Women-Owned Businesses Increasing

BYU NewsNet:

Kelly Anderson decided she wanted to do more with her free time. The BYU alumnus looked into starting a retail business thought it would be beneficial to network with other women entrepreneurs. After many experiences networking over the Internet, Anderson started startupprincess.com, a women’s entrepreneur networking site. This is just one example of the many women owned business in Utah County.

The growth of majority women-owned firms grew at nearly two times the rate of all U.S. firms, increasing 42.3 percent between 1997 and 2006. The revenue of women-owned firms also increased faster, at 4.4 percent compared to the -1 percent growth rate of revenues in all U.S. firms, according to a Center for Women’s Business Research study.

“There is a demand for women entrepreneurs,” Anderson said. “I think it’s because over the Internet it’s becoming increasing easy to start businesses from home that are profitable.”

Kim Scoville, part-time faculty teaching entrepreneurship classes, said that women-owned businesses do business differently than men.

“I think women are often working odd hours,” Scoville said. “They’re with their families, getting dinner ready, running errands, etc. A lot of times they are working between 10 and 12 p.m. or early in the morning.”

Women often like working with other women, Scoville said.

“It’s more likely for women to do business over the phone and trust each other, because their experiences are similar,” Scoville said. “It’s becoming more common that women are comfortable with other women because they understand each other’s crazy lifestyles.”

Women in Utah County are finding that owning businesses is hard, but they are learning to rise above the challenge.

Sarah Wright, a mother of two and the founder Sarah Jane Studios, an illustrative design company, which opened just over two months ago, is learning how to balance family and a job while working from home.

“I had no idea what to expect when I went into this, and I am still catching my breath,” Wright said. “My time and space is very limited. I work when my babies are napping, and then after they go to bed. I am learning to close the door to my job and be a mom when my kids are awake. This is the biggest challenge, but I’m learning.”

Anderson’s business, startupprincess.com offers women the chance to network with other women entrepreneurs and draw from their knowledge and experience.

Photo from Startup Princess.

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