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Update Dallas | A central hub for market and real estate news affecting the Dallas region.

A central hub for market and real estate news affecting the Dallas region.



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The Robbie Report: Dallas Region Supports Women Entrepreneurs

June 19th, 2013 | by The Update
The-Robbie-Report-Dallas-Supports-Women-Entrepreneurs-Study-Says.jpg

If there’s a national list about strong business support and practices, it seems Dallas is always on it. This time, it’s a list about how cities encourage women entrepreneurs.

Dallas comes in at No. 3.

The “Best Cities for Female Founders” list, created by Forbes magazine, shows that Dallas boasts the follow statistics:

  • Women’s median annual earnings: $31,911
  • Total SBA-approved loans, 2011-2012: $11,941,500
  • Growth in women-owned firms 1997-2012: 47.8 percent
  • Number of women-owned firms, 2012: 188,200
  • Revenues by women-owned firms, 2012: $31,639,400

Forbes paired its list with the results of the first gender-focused, global entrepreneurship index based on the Global Entrepreneurship and Development Index (GEDI), produced with Dell.

The United States ranked No. 1.

The Gender-GEDI is the only global index to measure high-potential female entrepreneurship based on individual aspirations, business environments and entrepreneurial ecosystems. High-potential women entrepreneurs are defined as “innovative, market expanding and export oriented.”

Gender-GEDI is made up of 30 indicators and ranks 17 countries; Australia, Brazil, China, Egypt, France, Germany, India, Japan, Mexico, Morocco, Malaysia, Russia, South Africa, Turkey, Uganda, United Kingdom and the United States. Top ranking countries scored consistently well across a range of indices.

The U.S. scored high on indicators for good institutional foundations and a strong entrepreneurial environment. Other top-ranking countries include: Australia (No. 2), Germany (No. 3), France (No. 4) and Mexico (No. 5).

“Unleashing the power of female entrepreneurship can have a dramatic effect on a country’s economy. The research clearly supports the assertion that key things need to be fixed in order for female entrepreneurship to survive and flourish,” Karen Quintos, chief marketing officer and senior vice president Dell, said in a news release. “Increased access to knowledge, networks, capital and technology are critical if countries are to empower female entrepreneurship and create a culture of success.”

Highlights of the index:

  • Economic development is not enough: Being strong in key areas such as legal rights, education and access to finance do not automatically result in high-potential female entrepreneurship. In some countries, the business environment for success is right, but female entrepreneurship is still low.
  • Lack of knowledge holds back business growth: There is a trend among less educated females in developing countries to take advantage of entrepreneurial opportunities, but without education they lack the skills to move their businesses beyond the micro level.
  • Access to finance is crucial: Few women have bank accounts in low-performing countries; Egypt (7 percent), Uganda (15 percent), India (26 percent) and Morocco (27 percent). This compares to almost 100 percent access in the top-performing countries, other than Mexico (22 percent). However, even in countries where access to a bank account is high, venture capital funding is still low. For example, in the U.S. only 3-5 percent of venture financing goes to women-owned businesses.
  • Effective networking can open doors: Networking with other entrepreneurs and having access to the Internet helps create opportunities for female entrepreneurs. In particular, the Internet provides new ways of networking that eliminate temporal and geographic, as well as gendered social constraints, that can limit women’s access to information and resources.
  • Technology enables business growth: Technology is an essential component for fostering high-potential female entrepreneurship. While research and development does not guarantee successful growth, without systematic research activity, new product development and future growth will be inhibited. Turkey and Egypt scored very low in this area while Japan and the U.S. scored highly. Technology has also made it cheaper than ever to start a business and removes many of the social and physical barriers women must overcome to start their own businesses and connect with the resources they need. Entrepreneurs need scalable technology solutions that enable them to accelerate the growth of their business to succeed.
  • Not all rosy at the top: Despite ranking high on the index, even top-performing countries have room to improve before they can achieve parity across all areas and fully unlock the contribution female entrepreneurs can deliver. For example, France and the U.K. have much lower ratios of female to male startups (48:100 and 46:100 respectively) than the U.S. (71:100) and Australia (85:100) showing that a large gap of ‘underutilized entrepreneurship potential’ remains, and the U.S. and U.K. need to improve the number of women graduating with science degrees (41 percent and 37 percent respectively) in order to prepare a larger pool of tech savvy high-potential female entrepreneurs.
  • Room for optimism: A lower relative GDP doesn’t dictate the success of women entrepreneurs; some countries like Mexico (No. 5) ranked much higher than others with a similar economic and cultural profile, e.g. Brazil (No. 14), suggesting that improving access to resources and providing a favorable business environment can have a major impact.

GENDER-GEDI Rankings

  1. USA
  2. Australia
  3. Germany
  4. France
  5. Mexico
  6. UK
  7. South Africa
  8. China
  9. Malaysia
  10. Russia
  11. Turkey
  12. Japan
  13. Morocco
  14. Brazil
  15. Egypt
  16. India
  17. Uganda

Click here to read the full article from Forbes. Click here to learn more about the Dell Women’s Entrepreneur Network.

Briggs Freeman Sotheby’s International Realty is Dallas’ luxury real estate leader, with more than 190 agents in five offices located throughout the Metroplex and access to the global Sotheby’s network, including more than 11,000 agents in 600 offices worldwide. For more information on escapes and second homesranch and land, and luxury homes in the Dallas-Fort Worth region and beyond, go to briggsfreeman.com.

 

 

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