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National Research Project to Accelerate Growth of Businesses Owned by Women of Color

The following information was released by the Center for Women's Research in Washington, DC:

Five cities were selected as sites for a national research study to identify obstacles to business growth faced by women business owners of color. Day-long research forums, conducted by the Center for Women's Business Research and Babson College, have been held in Philadelphia, Atlanta, and San Francisco. The objective is to identify the barriers and challenges that women of color face in the pursuit of business growth and to create individual, community, and ultimately, national action plans to overcome those barriers. The research will culminate in a 2008 national conference where public -and private- sector policy recommendations generated by the research will be announced.

The two remaining forums will be held in Dallas, Texas on September 20 and in Chicago, Illinois on January 24, 2008. Women-of-color entrepreneurs, who wish to grow their businesses to a higher level and help create local and national agendas that support businesses owned by women of color, must apply in advance to participate. Selection criteria include owning a business that is at least 50% women owned with annual revenues between $250,000 and $5 million. All types of industries are welcome. Women-of-color entrepreneurs who meet the research criteria and wish to participate should contact the Center for Women-s Business Research at www.womensbusinessresearch.org or at 202.638.3060 ext. 725.

"As of 2006, there are 2.4 million businesses owned by women of color. They are starting businesses at a faster rate than all businesses but their firms are not achieving the same level of success when measured by revenues and employment," said Sheila Brooks, national spokesperson for this initiative and President and CEO of SRB Productions, Inc. "These businesses have great untapped potential for economic and social impact which can only be realized by clearly identifying their challenges and then developing targeted programs and policies to remove those barriers. The research participants will share their stories, develop personal and business action plans, learn how to grow their businesses from the proven strategies of others, and contribute to setting new community and national agendas that support growth."

Accelerating the Growth and Success of Businesses Owned by Women of Color is funded by corporate and association sponsors. The lead 2007 corporate sponsor is Wachovia Bank. They are joined by a prestigious consortium of other 2007 corporate national sponsors, including Wal-Mart Stores/ Sam's Club, Inc.; UPS Capital; Wells Fargo & Company; American Airlines; eWomenNetwork; IBM; MasterCard; Principal Financial Group; Verizon; and city sponsor, AT&T.

Leading women business owner organizations and other non-profit organizations are also research sponsors. They are: eWomenNetwork Foundation; Level Playing Field Institute; the National Association of Women Business Owners (NAWBO); National Women's Business Council (NWBC); Women's Business Enterprise National Council (WBENC); and the Women Presidents' Organization (WPO).

"We are very pleased to participate in this research which will culminate in sharing the experiences and insight of women-of-color entrepreneurs with national policy makers," said Babson College associate professor Donna Stoddard. "We expect this research to create community and national agendas to foster the success of all women-of-color entrepreneurs."

Babson College is developing two case studies for this research initiative, which will exemplify the major areas of discussion.

Affiliate organizations that have joined the initiative to date include: America-China International Foundation; Association of Women's Business Centers; CARE; Center for Leadership and Civic Engagement of Spelman College; Georgia Women's Business Council; Women's Business Development Center of Philadelphia; and the Women's Leadership Exchange.

Corporate and association sponsorships for 2007 and 2008 are still available.

To learn more about this initiative, its sponsors, and its affiliates, go to the links that follow.

Center for Women's Business Research

The Center for Women's Business Research provides data-driven knowledge that advances the economic, social and political impact of women business owners and their enterprises. We do this by setting the national agenda; creating insight on the status and achievements of women business owners; altering perceptions about the economic viability and progress of women-owned enterprises; and driving awareness of the economic and social impact of this vital business sector. Find out more online at www.womensbusinessresearch.org.

Babson College

Babson College in Wellesley, Mass., is recognized internationally as a leader in entrepreneurial management education. Babson grants BS degrees through its innovative undergraduate program, and grants MBA and custom MS and MBA degrees through the F.W. Olin Graduate School of Business at Babson College. Babson Executive Education offers executive development programs to experienced managers worldwide. For information, visit www.babson.edu.

Center for Women's Leadership

The Center for Women's Leadership (CWL) is dedicated to the advancement of women in business. Through the Center's education and outreach activities as well as through its research, CWL enables the professional accomplishment of women and the success of organizations seeking to leverage their talent and market power. Our extensive research and faculty team make Babson the leading authority on global women's entrepreneurship and a premiere source for the insights and educational opportunities that women need to achieve their leadership goals.

2007 Sponsors