conomy”Women-and Minority-Owned Businesses Adapt to New Economy” “Women-and Minority-Owned Businesses Adapt to New Economy” written by Yvette Armendariz was an article that I found in the archives of the Arizona Republic (October 6, 2002) via the internet. This article dealt with the readings from class over the past couple of weeks, especially dealing with women and Global Economy. As the title reads, women-owned businesses are adapting to the new economy, the economy after the New York September 11th attacks. This article is a year old, but I thought that it still had merit and was worth writing about.
In this article there are 4 companies mentioned. Two are owned by Caucasian women and the other two, by men of ethic backgrounds. The companies owned by the women, Anderson Security and Terri’s Consign and Design Furnishings are highly profitable yielding millions of dollars a year, 10 million, and 36 million respectably (in 2002).
Anderson Security is a security and insurance corporation created and built by a lady named Kim Anderson-Maggi. Her business profitability went through the roof after the attacks in New York 2 years ago and have only slightly slowed, but remain at a steady increase. Terri’s Consign and Design Furnishings is a great store I have actually shopped in.
There are over 16 stores nationwide. The owner, Terri Bowersock, is highly involved in the business and employs wonderful marketing strategies such as direct-mail programs to recent home buyers, and radio advertising. Terri created this store because she had a hobby of interior decorating and wanted to make a career out of it.
These women did something that most women do not have the courage to do – they started up a business, in which they had a desire to work hard and wanted to achieve something more then they received at other jobs. In a movie that we watched in class there was a lady, a teacher of needlework. This lady held classes that taught embroidery and sewing, in order to give the girls a skill. This trade school for women taught them essential techniques in order to make a living or add to their husbands incomes to increase their impoverish lives. These women, although they lived in a third world country, have the skill and gumption to go into business for themselves, and “be their own boss”. In the United States, more women have the ability and skills, but less actually do start-up a business. Statically, women own only 27% of businesses in the U.S.
In class we have discussed women as the less aggressive and more dependent sex, this could provide some insight as to why the percentage of women-owned businesses are so small. Overall, women need to market themselves to others and let a special skill or talent shine through that could be a profitable business venture.