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In 1978, when Women Business Owners
(WBO) was founded, women-owned businesses totaled
just 1,000 in the Puget Sound area and 5 percent of
all businesses nation-wide. Today, 28 percent of businesses
are women-owned. The 70,000 women-owned businesses
in the Seattle-Bellevue-Everett area employ 100,000
people and bring in $13 billion in annual sales. The
number of women-owned employer firms grew at three
times the average rate of their male counterparts.
Nationally, these numbers translate to 6.2 million
firms employing 9.2 million workers and generating
$1.2 trillion in revenues.
The tremendous progress women entrepreneurs
have made positively affects the economy not just
in numbers. These highly educated and skillful entrepreneurs
are excellent employers and exemplary corporate citizens.
They employ a more diverse work force, are more likely
to offer flextime, tuition reimbursement and profit
sharing, and are more inclusive in their decision
making than their male counterparts. More importantly,
women business owners and executives are generous
philanthropists: 70 percent volunteer at least once
a month and 31 percent contribute $5,000 or more to
charities annually.
 With
this historical backdrop, the meaning of the Nellie
Cashman Woman Business Owner of the Year Award is
more significant than ever. Women entrepreneurs pursue
consistent, managed growth. They are spirited and
persistent when called upon to deal with adversity.
They value integrity and giving back to the community.
These are the criteria used in the intensive nominating
and judging process making the Nellie the most prestigious
award of its kind in this area. These are also the
same attributes exhibited by Nellie Cashman, the legendary
entrepreneur of the 1800s.
WBO breaks new ground this year in presenting
the Nellie Summit, which will proceed the Nellie Award
dinner. Keynoting the Summit is Cheryl Scott, who
has made an incredible impact as the CEO of Group
Health. Joining her on the panel are former Nellie
honorees Susan Bittner, Rosemary Brester, and Diane
Symms. They will share their stories and field questions
from the audience.
Looking ahead, women entrepreneurship
will continue to gain in momentum and influence. The
powerful voice of these women who are always willing
to share their ideas and wealth is built from the
collective strengths of the spirited and entrepreneurial
individuals.
Eva Chiu is president of WBO,
the presenter of the Nellie Award and a professional
organization of women entrepreneurs in the Puget Sound
area. She is also the president of her own Web consulting
firm, InfoAdvantage LLC. Contact her at echiu@infoadvantage.com.
Reprinted with permission
from Puget Sound Business Journal. Published 2004.
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