The Fastest-Growing Sector of American Entrepreneurship: Women

Over the past 50 years women have gone from owning 4.6% of all businesses to 40%, according to the American Express 2018 Report on the State of Women-Owned Businesses.  We may own a lot of businesses but we still struggle to get a loan when we need one.  Take Lisa Michele Chretien, CEO of Laguna Beach-based EventMover, a transportation logistics company that moves corporate assets for trade and auto shows, domestically and internationally.

Lisa needed a line of credit to grow her $3.5 million in annual revenue business, was looking for a loan of about three-quarters of a million dollars in credit, but instead, hit a wall.  She went to 25 lenders in Orange County and every single one said no.

See what she did and how she overcame a roadblock, one that persists for the fastest-growing sector of American entrepreneurship:  women.

Hint:  She finally got her line of credit, but only after her accountant approached a lender he had done business with for years.  As she tells it:  "I felt like I had traveled back in time, before 1988 and the passage of the Women’s Business Ownership Act — when women were required to have a male relative sign a business loan."

Make Time in Your Schedule for Fun

Corcoran Group founder Barbara Corcoran has seen many a business rise and fall. Her own success story is one of scrappiness and eternal drive.

Since selling her eponymous business for $66 million back in 2001, the bestselling author and speaker has made helping other entrepreneurs achieve their dreams her mission, both as a Shark [the Shark Tank show] and with her own firm, Forefront Venture Partners. She also still has a foot in the world of real estate, connecting homeowners with the best agents.

Entrepreneur Magazine staff writer Nina Zipkin had the opportunity to ask Barbara 20 questions -- from how she starts her day, to what's the best advice she ever took, to how to make time for fun in your schedule.

What Does An Entrepreneur at the Helm of a Successful Startup Look Like?

Hold on to your hats ladies!  Even though the wind isn't blowing, you will be blown away happily by the following notion.

Women who’ve embarked on new careers in their 40s, 50s and 60s are among some of the most successful entrepreneurs!

Yes, you read that right.  If you are thinking that you are too old to start a business, guess again.

Just the facts:

“Eighteen-hundred and 21 of you [women entrepreneurs] a day in the United States are building companies,” said Brooks (52.9 years young :-), referring to a 2018 study of business women commissioned by American Express.

She [Brooks] goes on to say:

"It [later stage entrepreneurship] just means that our life experiences have given us more depth, so not only can we be more successful at this age but we can also share with those who need to hear more perspective.”

Read on, power up and get going!

Access to Capital for Women and Entrepreneurs Is Important for Innovation, Economic Growth and Job Creation

22 female entrepreneurs from across the U.S. met in Washington D.C. last week at the Women’s Entrepreneurship Roundtable, hosted by the newly created bipartisan U.S. Senate Caucus on Entrepreneurship, Center for American Entrepreneurship.

"As a female entrepreneur [Tina Tran Neville], I find this extremely disheartening.  My startup, an online English language platform called Lana Learn, seeks to connect with the 2 billion people learning English globally, but with limited access to capital I cannot grow my company to meet demand."

Here's what else Neville had to say after attending the meeting:

While we have long way to go to support access to capital for women and entrepreneurs in general, I did walk away encouraged. I am encouraged by the creation of the U.S. Senate Caucus on Entrepreneurship and the engagement of the senators, staffers, and entrepreneurs in attendance. I am also encouraged by the work that the various organizations did to make the Women’s Entrepreneurship Roundtable a reality: The Center for American Entrepreneurship, The Kauffman Foundation, and startup ecosystems around the country like Create33.

Read more about why 22 female entrepreneurs met in Washington D.C.

"While we have long way to go to support access to capital for women and entrepreneurs in general, I did walk away encouraged." – Tina Tran Neville