The Encore: PwC – Next Generation Survey 2016, The Female Perspective

Views of Female NextGen Family Business Leaders

In our survey, we dug deeper to look at the perspective from female NextGens—many of whom plan to take over the business one day.

The gender gap issue in businesses continues to make headlines and we wanted to understand how do the female NextGen in family businesses feel about the prospect of leadership? The good news here is that 30% of the women we interviewed have a seat on the board, which is noticeably higher than the global average for public companies. Likewise, over half the women we spoke to disagreed that their gender would be a barrier to them running the family business, and nearly the same number said that their firm recognizes the value of having women in key positions.

While female NextGens are optimistic the gender gap is closing in their businesses, there is clearly work that needs to be done. One striking example is the noted difference in the leadership roles males and females are undertaking in their firm. Male NextGens tend to be involved in professionalising the firm whereas their female counterparts are more focused on professionalising the family in areas of corporate governance.

Click here to read the chapter from Pwc’s Global NextGen Survey.

 

Phys.Org: What Men Would Do To Fix The Workplace Equality Gap

By Jill Armstrong

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It is still true that far more men than women have leading roles in manyorganisations. If you ask women to explain this, as many researchers have, they point to workplace culture as a prime culprit.

Many readers will be familiar with the kinds of experiences that frustrate women’s career progress; things like being interrupted or talked over in meetings. But that is old news. Less well known are more subtle trends such as the tendency of men to be promoted on their potential to take on a new role, while women need experience of the role to get the job. This is often called “ability bias” and often happens simply because men’s networks are stronger. Men tend to gravitate to other men in the informal chats that happen in corridors, coffee shops and after five-a-side football games.

These conversations are where connections are made that open the door to opportunities. Men can also kill careers with misplaced “kindness”. In their concern not to upset a woman, men often give less direct and less useful feedback than they do to men. Over time, the consequence of these behaviours for women is that they feel they do not fit in, that they are not being promoted on merit and, as a result, ambition and confidence can melt away.

Men: the missing ingredient

Lack of gender parity is influenced just as much by what men are doing as what women are doing. And yet male voices have been quiet, or not listened to, while initiatives focus on things like mentoring female employees to be more assertive – in effect “fixing the women” to fit in with how things are done.

The better news for women is that many men support gender parity at the top of organisations. The business case is well accepted and, for men in early or mid career in particular, gender parity is a moral issue too. Men tell us that it’s not right that their daughters, female partners and friends should have a different experience of the workplace from the men they work alongside.

So its surprising that very little research has been done to find out what men think of the problems with workplace culture that women report, or to discover what men think can be done about it. This is why Murray Edwards College started the Collaborating with Men research project, working with 40 men in early career, middle management and senior leadership roles in both small businesses and large organisations – and in both the public and private sector.

If individuals are not prepared to change something themselves, then no amount of company policy is going to make a tangible difference. However, given that most men haven’t done much thinking about how their behaviour may negatively affect women’s careers, it follows that it’s not obvious what they can do to help. So the first thing we did was to share a summary of the research from women’s perspective. Many of the participants then discussed this research with their female colleagues. The effect was to make unconscious behaviours visible and to prompt many men to suggest practical changes which could help redress the balance. Let’s pick out some highlights here:

Click here to read more.

 

Forbes: Jobs & The Promise Of Women Entrepreneurs

By: Moira Vetter

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Can female entrepreneurs be the stimulus we need for jobs?

People—and investors—are ready to put their money where more exponential returns, are possible.

Female entrepreneurs seem to be bucking some of the stagnant growth trends, starting up a greater number of businesses. According to the National Women’s Business Council in 2012, women-owned businesses increased 26.8% from 2007. If women can master the issue of scale, a lot of people stand to win big.

Advocacy groups focused on women’s business owners

If you are a female entrepreneur, you should know the associations that keep trying to read your tea leaves or tell your story. Many of the studies I reference are done with multiple partners who are combining research with networking, conferences and programs to help female business owners access capital.

Click here for more.

The next generation of women business owners is ready to get started

A few weeks ago I spoke to a group of students at Georgia Tech’s Institute for Leadership and Entrepreneurship. I was blown away by the number of female students in the crowd—nearly half the group—but not surprised when during Q&A I was asked for advice specifically for female entrepreneurs.

Given the constant emphasis on women in business and data that suggests they make great “business starters” and that their influence drives better financial performance, maybe they shouldn’t forget it. They should leverage the growing interest and energy around women-owned business for immediate advantage.

 

AVIS: Give Yourself A Fighting Chance, Wear Your Seatbelt

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Give yourself a fighting chance! Wear your seatbelt every time, as a Driver AND Passenger.

Rules of the Road:

  1. Always wear your seatbelt.
  2. Always shut your door before driving.
  3. Always adjust your mirrors and seat before driving.
  4. Always obey all traffic laws including using signals before changing lanes or turning.
  5. Always drive at or below the posted speed limit and as conditions permit.
  6. Never drive a company vehicle in an unsafe, negligent or reckless manner
  7. Never drive with your hands, feet, or any other body part outside of the car.
  8. Never use your cell phone while driving.
  9. Avoid backing your car as much as possible.
  10. Keep your car radio off or at a low level that does not distract others or impairs your ability to hear other cars or people.

 

Visit avis.com/wpo to save up to 25% off your rental on your next business trip.

 

*WPO would like to thank Avis Budget Group for providing this week’s sponsor content. 

Inc: Why It’s So Difficult for Black Women Entrepreneurs to Get Funded

BY KIMBERLY WEISUL
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There are many barriers that prevent business owned by black women from making as much as those owned by black men, and a new report from the National Women’s Business Council, prepared by Walker’s Legacy, highlights the most pertinent. But even among the handful highlighted by the report–including a lack of mentors, discrimination, and a lack of adequate networks–one in particular stands out: access to capital.

Overall, black women are uncommonly entrepreneurial, and it’s women of color, in general, who have been powering the growth in new businesses. Black women own 58.9 percent of all black-owned businesses, and among the demographic groups listed by U.S. Census’ Survey of Business Owners, blacks are the only ethnic group within which women own more businesses than men.

But businesses owned by black women, just like those owned by women of other races, bring in less money than those of men in their same demographic group, and businesses owned by blacks have lower revenues than those owned by whites. The average black-owned business has revenues of $58,119; the average white-owned business has revenues of $552,079. The average business owned by a black woman has revenues of $69,101, while the average business owned by a white woman brings in nearly three times as much — $189,037.

The difficulty in getting money to fund those businesses begins early — long before potential venture capitalists, or even bankers, would get involved. The median net worth for a black family in 2011 was only about $7,111, according to the report, compared to $111,146 for a white, non-Hispanic family and $8,348 for a Hispanic household. The report describes this as “a lack of generational wealth and limited present and historic assets.” The report says it would take the average black family 288 years to amass the same wealth as the average white household.

Click here to read more.

Associated Press: Get Started – More Women Investing In Small Businesses

By Joyce M. Rosenberg

INVESTING IN, AND BY, WOMEN

The number of women who invest in small businesses is growing, and so is the number of companies led by women that receive funding.

Those findings were released Monday by the Kauffman Foundation, which does research on entrepreneurship. The foundation analyzed studies on investors done by universities and other institutions.

The percentage of women who are angel investors has increased from about 5 percent in 2004 to about 25 percent last year, Kauffman said, citing research from the Center for Venture Research at the University of New Hampshire. Angel investors are people or groups who invest in very young or very small companies.

Studies of venture capital firms show they’re doing more investing in companies founded by women or that have women executives, Kauffman said. It cited a study by professors at Babson College that showed more than 15 percent of companies receiving venture capital between 2011 and 2013 had women executives. That’s up from less than 5 percent in the 1990s and 2000s.

Another study, by business information company Crunchbase, found that 18 percent of companies with women founders got their first funding in 2014, nearly twice the percentage from 2009.

GETTING READY FOR WINTER

The Small Business Administration plans an online seminar about preparing a business for severe winter weather. Topics will include how to stay open despite heavy rains and snow, and how to protect employees, customers and property. It will be held Tuesday at 2 p.m. Eastern time. Learn more and register at http://bit.ly/2eoazvz

HOW TO HELP A BUSINESS GROW

Small business owners can get tips on how to start and expand a business in an online seminar sponsored by SCORE, which offers free counseling for small companies. It will be held Thursday, Nov. 10 at 1 p.m. Eastern time. Learn more and register at http://bit.ly/2dDwKtX .

 

The Encore: IBM – What Is CAMSS?

What is CAMSS?

CAMSS is an acronym that was coined to represent the technology solutions that are top of mind today.

Cloud, Analytics, Mobile, Social, and Security

These categories have been the key technology focus areas for the past few years and are predicted to remain in the forefront for some years to come. Leaders in business are well into implementing them. For instance, 45 of the top 50 Fortune 500 companies are using the IBM Cloud. IBM has solutions in all of these categories for medium and even small businesses.

How to learn more about CAMSS

Using the following links, you can read an overview of each area or watch a video, find white papers or learn how others are using a solution through case studies and news reports. There are several offerings under each category, many of which have free trial offers.

Cloud http://www.ibm.com/cloud-computing/

Analytics https://www.ibm.com/analytics/us/en/

Mobile http://www.ibm.com/mobilefirst/us/en/mobile-solutions/

Social Business http://www.ibm.com/social-business/us/en/solutions.html

Security http://www-03.ibm.com/security/

If you need help navigating any of the sites, please contact Kathy Pavlik at kpavlik@us.ibm.com.