Atlanta has been selected as one of the five cities that are sites for a national research study to identify obstacles to business growth faced by women business owners of color. The day-long research forum, held May 30th, will be conducted by the Center for Women's Business Research and Babson College. The objective is to identify the barriers and challenges that women of color face in the pursuit of business growth and to create individual, community, and ultimately, national action plans to overcome those barriers. The research will culminate in a 2008 national conference where public- and private-sector policy recommendations generated by the research will be announced.
Women-of-color entrepreneurs, who wish to grow their businesses to a higher level and help create local and national agendas that support businesses owned by women of color, must apply in advance to participate. Selection criteria include owning a business that is at least 50% women owned with annual revenues between $250,000 and $5 million. All types of industries are welcome. Women-of-color entrepreneurs who meet the research criteria and wish to participate should contact the Center for Women’s Business Research at www.womensbusinessresearch.org or at 202.638.3060 ext. 710.
The Atlanta research forum will be held on May 30th at the Westin Peachtree Atlanta from 9am to 5pm, followed by a reception attended by participants and executives from the corporations and organizations that are sponsoring the initiative.
“As of 2006, there are 2.4 million businesses owned by women of color. They are starting businesses at a faster rate than all businesses but their firms are not achieving the same level of success when measured by revenues and employment,” said Sheila Brooks, national spokesperson for this initiative and President and CEO of SRB Productions, Inc. “These businesses have great untapped potential for economic and social impact which can only be realized by clearly identifying their challenges and then developing targeted programs and policies to remove those barriers. The research participants will share their stories, develop personal and business action plans, learn how to grow their businesses from the proven strategies of others, and contribute to setting new community and national agendas that support growth.”
Accelerating the Growth and Success of Businesses Owned by Women of Color is funded by corporate and association sponsors. The lead 2007 corporate sponsor is Wachovia Bank. They are joined by a prestigious consortium of other 2007 corporate national sponsors, including Wal-Mart Stores/ Sam’s Club, Inc.; UPS Capital; Wells Fargo & Company; American Airlines; eWomenNetwork; IBM; MasterCard; Principal Financial Group; and Verizon. Time-Warner is a city sponsor for the Atlanta forum.
“Metro-Atlanta is a market of boundless opportunity for businesses owned by women of color,” said Chanda Moran, an Atlanta Wachovia Business Banking director who will be making remarks to the research participants at the event. “Wachovia is proud to sponsor this research because it puts tremendously powerful and useful information right in the hands of our clients. That’s the kind of shared success we strive for our clients to experience when they do business with Wachovia.”
Leading women business owner organizations and other non-profit organizations are also research sponsors. They are: eWomenNetwork Foundation; Level Playing Field Institute; the National Association of Women Business Owners (NAWBO); National Women’s Business Council (NWBC); Women’s Business Enterprise National Council (WBENC); and the Women Presidents’ Organization (WPO).
“We are very pleased to participate in this research which will culminate in sharing the experiences and insight of women-of-color entrepreneurs with national policy makers,” said Babson College associate professor Donna Stoddard. “We expect this research to create community and national agendas to foster the success of all women-of-color entrepreneurs.”
The core of the project is five research forums bringing women of color entrepreneurs together to identify key issues. In chronological order, the remaining research sessions planned for 2007 will take place in Atlanta, GA; San Francisco, CA; and Dallas, TX. The final forum will be held in January 2008 in Chicago, IL. The first forum was held in Philadelphia, PA in February. Babson College is developing two case studies for this research initiative, which will exemplify the major areas of discussion.
Affiliate organizations that have joined the initiative to date include: America-China International Foundation; Association of Women’s Business Centers; Center for Leadership and Civic Engagement, Spelman College; the Women’s Business Development Centers of Philadelphia and Chicago and the Georgia Women’s Business Council.
Corporate and association sponsorships for 2007 are still available.
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Editor’s Note: The following is a sampling of the comments of the participants in the first forum held in Philadelphia:
“I have been raving about the forum to anyone who will listen since I returned. As a woman of color, I felt heard, validated and inspired. “Lena West, Founder & CEO, xynoMedia Technology
“I have attended a few ‘women’s business owners’ seminars, meetings, etc. and this was the most valuable one to me…So, thank you again for recognizing the need for this study.” Conni Evans, President, ANCON
“As an African American woman and business owner, I found the conference truly enjoyable as well as intellectually stimulating. It was so great to hear women speak about their challenges and others advise on possible solutions.” Jacquannette Lewis, Chief Operating Officer, Global Advertising 1st, Inc.
Center for Women’s Business Research
The Center for Women’s Business Research provides data-driven knowledge that advances the economic, social and political impact of women business owners and their enterprises. We do this by setting the national agenda; creating insight on the status and achievements of women business owners; altering perceptions about the economic viability and progress of women-owned enterprises; and driving awareness of the economic and social impact of this vital business sector. Find out more online at www.womensbusinessresearch.org.
Babson College
The Center for Women's Leadership (CWL) is dedicated to the advancement of women in business. Through the Center's education and outreach activities as well as through its research, CWL enables the professional accomplishment of women and the success of organizations seeking to leverage their talent and market power. Our extensive research and faculty team make Babson the leading authority on global women's entrepreneurship and a premiere source for the insights and educational opportunities that women need to achieve their leadership goals.
2007 Sponsors
Wachovia
Sam’s Club/Wal-Mart Stores, Inc.
Wells Fargo & Company
UPS Capital
American Airlines
eWomenNetwork
IBM
MasterCard
Principal Financial Group
Time-Warner
Verizon
eWomenNetwork Foundation
Level Playing Field Institute
National Association of Women Business Owners (NAWBO)
National Women’s Business Council (NWBC)
Women’s Business Enterprise National Council (WBENC)
Women Presidents’ Organization (WPO)
2007 Affiliates
America-China International Foundation
Association of Women Business Centers
Center for Leadership and Civic Engagement
Georgia Women’s Business Council
Women’s Business Development Center of Chicago
Women’s Business Development Center of Philadelphia
