Yes, We're Woman-Owned (with Certification to Prove It!)
by Jacquelyn Farnsworth
Who runs the world? More countries have women leaders than ever, and women may have more behind-the-scenes control than we know. We're making progress in the business world as well, but we still have a ways to go. Like Lizzo says, "Boss up and change your life."
Spinster Sisters Co. is woman-owned and woman-run, but when you look at the business world overall, female CEO's are few and far between. Just 5.2% of CEO’s and 21.2% of board members from companies in the S&P 500 are women [1].
A female CEO makes us a proud outlier among all businesses; plus, our employees agree that working at a women-run business like Sisters has its benefits! Founder Kelly Perkins has been at the helm of Spinster Sisters Co. from the very beginning, and has employed and promoted women into leading roles in every aspect of the company.
"We are proud to count Spinster Sisters Co. as one of the 15,500 certified WBEs in the U.S."
Pamela S. Williamson, Ph.D., President/CEO, Women's Business Enterprise Council – West
Don't just take our word for it: the Women Business Enterprise National Council (WBENC) has just certified Spinster Sisters Co. as women-owned and women-run. To be certified women-owned, a business must be 51% owned, controlled, operated, and managed by women; a standard that we meet and exceed!
Why does it matter if a business is woman-owned? If you look back to 1972, only 4.6% percent of businesses were women-owned, according to the WBENC. Today, that number is 40% and expected to grow [2]. It's a promising figure, and reason to celebrate! Unfortunately, these women-owned businesses account for no more than 4.3% of revenues in the economy as a whole [3].
Here's where it gets interesting: the 1.7% of women-owned businesses that exceed $1 million in yearly revenue become economic powerhouses. We outperform all businesses in our share of overall employment and growth [3], making women-owned business one of the most promising sectors in creating a stronger and healthier economy. That gives us an idea for your next song, Beyoncé...
Who's going to run a better world? Girls!
1) Catalyst, Pyramid: Women in S&P 500 Companies (August 13, 2019).
2) WBENC, Behind the Numbers: The State of Women-Owned Businesses in 2018 (October 10, 2018).
3) American Express, 2018 State of Women Owned Businesses Report
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