As we march into Women's History Month, it's fitting to reflect on their impact on our nation's past, present and future.
During WW2, the female workforce grew by 6.5 million. In 1944, 37 percent of all adult women in America were employed and at the height of the war, more than 19 million women were in the workforce.
Indeed, the 1940's wartime necessities transformed the woman's role in the workforce, at home and in the community. Women nurtured family, educated children, provided community support AND worked in factories, helping America keep up with wartime demands for industry production of weapons, planes, ships and uniforms for soldiers.
Sound familiar? Today we are faced with a similar situation as our nation's economy fights to reset itself and yield sustainable gains for industry, institutional investors and shareholders. We are at war -- in need of a skilled, qualified workforce and yet we are short on jobs and consumer confidence. We are in the midst of a
Mortgage foreclosure crisis that many analysts expect will reach its peak in 2010 due to high unemployment and a rising number of underwater mortgages1.
So what will women do?
Women have the energy, core values, wisdom, and knowledge to transform today's economy just as during WW2 when they served to actively engaged in winning the war. Women fuel the economy as employees, educators, civic leaders, consumers, breadwinners and entrepreneurs.
For the first time the Center for Women's Business Research has used a methodology for measuring the impact of the more than 8 million businesses in the US owned 51% more by women. It tells us that women-owned firms have an economic impact of $3 trillion annually that translates into the creation and/or maintenance of more than 23 million jobs - 16 percent of all U.S. jobs!
These jobs not only sustain the individual worker, bu also contribute to the economic security of their families, the economic vitality of their communities and the nation.
If U.S.-based women-owned businesses were their own country, they would have the 5th largest GDP in the world, trailing closely behind Germany, and ahead of countries including France, United Kingdom and Italy.
As a women entrepreneur, your task (if you decide to accept it) is to visit http://www.centerforwomensbusinessresearch.org to learn more about your power, influence and contribution to the nation's economy. Understand your challenges and the opportunities that wait you as you grow your business. Also, look for more practical tools and tips in this column in the coming months. Until next time, be encourged, excited and proactive!
