Data Shows Slow Growth for Women Owned Businesses
A new study has shown that St. Louis is lagging behind other major metropolitan areas in the number of businesses owned by women.
In fact, according to an analysis of United States Census data carried out by American Express Open, St Louis is last amongst the 25 areas scrutinized.
According to the State of Women Owned Businesses Report, the number of start-ups created by women increased by nearly a third across the country in the decade leading up to 2012. However, the rate of growth reported for St. Louis stood at just 8 per cent.
Jennifer Ehlen, previously a director at the St. Louis University Center for Entrepreneurship and current vice president at Thompson Street Capital Partners, spoke to STLToday.com, commenting:
“I think St. Louis is simply a couple of years behind in recognizing the innovations of women entrepreneurs and their impact on the community.”
Julie Weeks, a researcher at American Express, cited a fluctuating population as one of the reasons why St. Louis saw slower growth:
“When a population of a state is growing, it means more people moving in, and therefore more customers if you are starting a business,
“It feeds on itself. Business just can't be as good when the population flattens out.”
Ms Ehlen also stated that St. Louis should take its cue from other major metropolitan centers that have established organisations to help women get their business of the ground, helping them with business plans, accounting, and advice on promotional duties such as business card printing and brochure printing.
In fact, according to an analysis of United States Census data carried out by American Express Open, St Louis is last amongst the 25 areas scrutinized.
According to the State of Women Owned Businesses Report, the number of start-ups created by women increased by nearly a third across the country in the decade leading up to 2012. However, the rate of growth reported for St. Louis stood at just 8 per cent.
Jennifer Ehlen, previously a director at the St. Louis University Center for Entrepreneurship and current vice president at Thompson Street Capital Partners, spoke to STLToday.com, commenting:
“I think St. Louis is simply a couple of years behind in recognizing the innovations of women entrepreneurs and their impact on the community.”
Julie Weeks, a researcher at American Express, cited a fluctuating population as one of the reasons why St. Louis saw slower growth:
“When a population of a state is growing, it means more people moving in, and therefore more customers if you are starting a business,
“It feeds on itself. Business just can't be as good when the population flattens out.”
Ms Ehlen also stated that St. Louis should take its cue from other major metropolitan centers that have established organisations to help women get their business of the ground, helping them with business plans, accounting, and advice on promotional duties such as business card printing and brochure printing.