USA TODAY: This is the best city for women to start businesses

By: Rhonda Abrams

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If you’re a woman, New York City is the best place in the world to start a business.

That’s what Dell — in collaboration with the research company IHS and with participation from the Technology and Entrepreneurship Center at Harvard — found out when  it commissioned research on the best cities for female entrepreneurs to start and scale a high-growth business.

In fact, the United States had four cities in the world’s top 25: New York (No. 1), San Francisco Bay Area (No. 2), Washington, D.C. (No. 7), Seattle (No. 10) and Austin (No. 12). Rounding out the top 10 were London (No. 3), Stockholm (No. 4), Singapore (No. 5), Toronto (No. 6), Sydney (No. 8) and Paris (No. 9).

In conjunction with the 2016 Global Entrepreneurship Summit (GES), Dell released the results of its in-depth research analyzing communities around the world based on factors most conducive for high-potential women entrepreneurs (HPWE). The 2016 GES is the seventh worldwide convocation on entrepreneurship, this year being held in the heart of Silicon Valley at Stanford University, June 22-24. President Obama will address the Summit on Friday.

In launching the Dell Women Entrepreneur Cities Index (WE Cities), Dell is attempting to measure a city’s ability to attract and support high-potential women entrepreneurs, defined by Dell as those with the capability to grow businesses generating $1 million or more in annual revenue.

Read more here.

Why New York City Is Better For Women Entrepreneurs Than San Francisco

A new report reveals what it takes to level the playing field for women entrepreneurs around the world.

By: Lisa Rabasca Roepe

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New York City ranks first overall among the top 25 cities for women entrepreneurs, ahead of San Francisco, Seattle, and Austin, according to the Dell Women Entrepreneur Cities Index (WE Cities), released at the White House’s Global Entrepreneurship Summit.

The report measures a city’s ability to attract and support high-potential women entrepreneurs who want to grow their business. Research for the report began with an April 2016 symposium chaired by David Ricketts, a fellow at the Technology and Entrepreneurship Center at Harvard. The symposium brought together 40 global thought leaders, women entrepreneurs, academics, and media to discuss whether access to markets, capital, talent, and technology are the four major factors affecting the ability for women-owned businesses to grow, Ricketts says. During the symposium, he says, the group decided to add a fifth factor—culture—which measures the prevalence of mentors, networks, and role models as well as public polices that enable women to assume leadership positions and achieve success.

Based on the research symposium, IHS, an economic forecasting and consulting firm, developed the metrics that produced the final rankings.

Read more here.

FORBES: Film Inspires Female Founders To Dream Big

By Geri Stengel

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Did you know that, despite ALL the growth in the overall numbers of women entrepreneurs, the rate of women’s entrepreneurship is half the rate of men, according to the Kauffman Foundation, which researches entrepreneurship? (See below for infographic.) “This is due to a variety of factors, including entrepreneurship being perceived as a male-dominated field, lack of financial capital and mentorship, and work-life balance challenges,” emailed Emily Fetsch, research assistant at Kauffman and coauthor of Labor After Labor.

It is also because you can’t be what you can’t see. “Economies with initiatives that increase visibility and access to role models are likely to encourage women entrepreneurs to start and grow businesses,” according to GEM Special Report: Women’s Entrepreneurship 2015. So I’m delighted that Dream, Girl, a documentary about five entrepreneurs, will be premiering on June 9 in New York City at the Paris Theater and live-streamed to Australia and San Francisco. Films like this are worth their weight in gold. It shows women running innovative and growth-oriented companies. The film is both inspirational and practical, providing advice that women can put to use in both their personal and business lives.

Click here to read full article.

Bloomberg: Boys’ Club Image Overturned by Rise of Women Currency Traders

Peg Reed knew she was called “Miss Bitch” on the desk when she was trading currencies on 1980s Wall Street. While running foreign-exchange desks in New York at the same time, Charlotte DeBenedictis was paid less than the men working for her.

Today, these pioneers say that even as their successors climb to the highest echelons in the male-dominated world of currency trading, toughness is still at a premium.

“You had to have a thick skin to work on Wall Street,” said Reed, who traded foreign exchange for Bank of America Corp., Credit Agricole SA, AIG Trading Ltd. and Standard Chartered Plc for two decades. “It wasn’t for the faint of heart and you couldn’t take things personally. But it was a very exciting world, and as you grow into senior positions, women have to show that strength.”

In the wake of the trading scandals that rocked the foreign-exchange industry in recent years, the new vanguard of female leadership includes Claudia Jury, who was appointed co-head of foreign exchange and emerging markets at JPMorgan Chase & Co. two years ago; Catherine Flax at BNP Paribas SA and Camilla Sutton at Bank of Nova Scotia, who were both promoted last year. They’re chipping away at Wall Street’s bros’ club — in the 21st century jargon of a gender-bias lawsuit filed in New York this month.

“There are quite a lot of senior women and an even larger number of juniors coming up,” BNP’s Flax said in an e-mailed response to questions.

As more women reach management level, they’re increasingly using that influence to address the gender imbalance. Flax says BNP Paribas has promoted women to lead electronic markets in both London and New York. JPMorgan’s Jury hosts panel discussions to recruit female students and sits on the executive committee of the Corporate & Investment Bank’s Women’s Network.

“When I look above me, there are women but they’re few and far between,” said Sutton, Toronto-based head of global foreign exchange at Scotiabank, Canada’s third-largest lender. “My bosses and the people who’ve led the businesses have typically been men. Hopefully we’re changing that.”

Click here to read full story.

Wall Street Journal: The Price Women Leaders Pay for Assertiveness—and How to Minimize It

 

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Wells Fargo To Be Exclusive Sponsor Of Women Presidents’ Organization Platinum Groups

The Women Presidents’ Organization (WPO) has announced Wells Fargo & Company is the exclusive corporate sponsor of the organization’s Platinum Group members who generate a minimum annual gross revenue of over $10 million and average annual revenues of $42 million. The partnership is focused on stimulating business opportunities to drive second-stage businesses to the next level.  The new Wells Fargo program will also connect successful women entrepreneurs with Wells Fargo procurement professionals. There are six WPO Platinum Groups with a total of 105 members globally.  Each group has a maximum of 20 members representing noncompetitive industries.

The growing power of women’s businesses and its profound impact on the economy has not received the attention it deserves. Women-owned/led middle market companies generate combined revenues of more than $743 billion and were collectively responsible for more than 6.4 million jobs in 2014.

“Wells Fargo is committed to developing and engaging women and diverse-owned suppliers to provide them with equal opportunities to compete for business through our Corporate Supplier Diversity program,” said Regina Heyward, Senior Vice President and head of Supplier Diversity for Wells Fargo. “Our support of WPO’s Platinum Groups reflects Wells Fargo’s strategy to build capacity and economic empowerment through diverse supplier development,” she said.

“A long-time supporter and corporate sponsor of the Women Presidents’ Organization, Wells Fargo recognizes the significant impact that accomplished women entrepreneurs have had leading successful second-stage businesses, and the influence they will continue to have on achieving economic security,” said Dr. Marsha Firestone, WPO President and Founder.

As the leading lender to women and diverse-owned businesses, Wells Fargo will offer a new dimension in educational programming provided for Platinum Group members in the Women Presidents’ Organization. As the ultimate affiliation for successful women entrepreneurs worldwide, the WPO mission is to accelerate business growth, enhance competitiveness and promote economic security for multi-million dollar women-led companies through confidential and collaborative peer learning groups.

 

 

Why UPS Believes 3D Printing Will Shake Up the Supply Chain

“3D printing has been around since the 1980s, but today there’s really an explosion going on,” says Alan Amling, Vice President of Marketing at United Parcel Services (UPS) Global Logistics & Distribution. “Every week you see something new about it in the press.”

Amling was addressing the recent 2016 SAP Aerospace & Defense Innovation Days event in Dallas, and the audience of industry insiders definitely agreed with him.

3D printing is a hot topic these days, and it’s easy to understand why. For starters, the technology seems to spark incredible creativity. Just consider the very clever people who have used it to bring classical painting to the blind or create prosthetic shells for injured turtles.

But as Amling explains, 3D printing is also going mainstream. And as it does, the technology is likely to revolutionize traditional manufacturing and redefine our notion of supply chain logistics.

Click here to read more.

 

*WPO would like to thank UPS for providing this week’s sponsor blog content.