Research Summary
What Drives Fast-Growing, Women-Owned Firms?
WASHINGTON, DC - A new study just launched by the National Foundation for Women Business Owners (NFWBO) will examine the motivations and visions of growth-oriented women- and men-owned enterprises. Earlier research by NFWBO found that women-owned firms with 100 employees or more were growing in number at six times the national average.
August 24, 2000
Stephanie Peacock
NFWBO (202) 638-3060 ext.21
e-mail:
What Drives Fast-Growing, Women-Owned Firms? Ground-breaking study to examine the paths of growth-oriented firms
The results of the study, sponsored by FleetBoston Financial with additional support from the Kauffman Center for Entrepreneurial Leadership and the Edward Lowe Foundation, will be used to provide critical tools and information for women entrepreneurs. “By identifying the unique characteristics of growth-oriented women-owned firms, NFWBO will provide the knowledge to help more women lead their firm’s growth and expansion,” explained Nina McLemore, NFWBO Chair and President of Regent Capital.
Teresa L. Cavanagh, Director of FleetBoston’s Women Entrepreneurs’ Connection, said that the study “will provide important insights for women business owners who want to accelerate their own rate of growth.”
What Drives Fast-Growing, Women-Owned Firms? page 2
“This study of fast-growth companies - often described as ‘gazelles’ - will have a lasting and dramatic impact on business expansion opportunities for women entrepreneurs,” stated Trish Costello, Director of the Kauffman Center’s Initiatives on Private Equity and Women.
Mark Lange, Director of Programs, Edward Lowe Foundation, added that “the findings from this study will be of tremendous value to women business owners and business educators in determining significant factors that aid entrepreneurs in achieving successful growth.”
The NFWBO survey will examine a nationally-representative sample of growth-oriented women- and men-owned businesses as well as their slower-growing counterparts. The study results will be released in early 2001.
The National Foundation for Women Business Owners is the premier source of information on women business owners and their firms worldwide. Its mission is to support the growth of women business owners and their enterprises through conducting research and sharing information.
FleetBoston Financial is the eighth largest financial holding company in the United States. A $181 billion diversified financial services company, it offers a comprehensive array of innovative financial solutions to 20 million customers in more than 20 countries and territories. The Small Business Services group at Fleet currently serves over 400,000 customers. Within this group, the Women Entrepreneurs’ Connection is dedicated to the financing and investment needs of women business owners and entrepreneurs. Information on the Women Entrepreneurs’ Connection is available at www.fleet.com/smallbusiness, any Fleet branch office, or at 1-800 CALL FLEET.
The Kauffman Center for Entrepreneurial Leadership takes an innovative approach to accelerating entrepreneurship through educational programming and research. The Kauffman Center is the largest organization solely focused on entrepreneurial success at all levels - from elementary students to high-growth entrepreneurs. The Kauffman Center is funded by the Ewing Marion Kauffman Foundation.
The Edward Lowe Foundation is a not-for-profit organization dedicated to championing the entrepreneurial sprit by providing information, research, and education which support emerging-growth entrepreneurs. The Foundation provides services and peer-learning opportunities for entrepreneurs and those who serve them.
Citation
Center for Women’s Business Research. “What Drives Fast-Growing, Women-Owned Firms?.” Research Summary. August 24, 2000. Washington, DC.