The MHEDA Journal - Third Quarter, 2014 - (Page 22)

WOMEN IN MHEDA EXECUTIVES BUSINESS A Seat at the Table MHEDA Executives discuss the growth of women in business BY STEVE GUGLIELMO A s MHEDA celebrates its 60th anniversary in 2014, there have been extensive conversations about how the industry has changed. Indeed, when looking at the industry today, compared to 1954, it is virtually unrecognizable. The Internet, rise of electric trucks, automation and turnkey system integration have all contributed to the evolution of our industry. According to the Greek philosopher Heraclitus, "The only constant is change." The products and technology in our industry are constantly improving and evolving. All across Corporate America, we have seen truly monumental innovation across all industries. However, the industry and the entire business world have undergone an even more dramatic and historic change in the past 60 years: the rise of women in the workplace. "Sixty years ago, women were responsible for taking care of their families, not providing income for them," says Annette Springer, CEO of Springer Equipment Company. "Women have slowly moved from the secretarial pool to CFO, CEO and major shareholders in corporations." According to United States Census information, women in "management" positions in the 1950s hovered just over 10% of the workforce. By 2009, that 22 MHEDA | number had exploded to nearly 40%. In fact, according to a study entitled "The 2013 State of Women-Owned Businesses Report" commissioned by American Express OPEN, there are more than 8.6 MILLION women-owned businesses in the United States, generating more than $1.3 trillion in revenues and employing nearly 7.8-million people. Between 1997 and 2013, when the number of businesses in the United States increased by 41%, the number of women-owned firms increased by 59%, a rate 1.5 times the national average. However, though the numbers continue to steadily improve, the transportation and warehousing industry does lag behind the rest of Corporate America in terms of rate of growth for women-owned firms. Of industries contributing 2% or more to the business population, transportation and logistics ranked second worst by percentage of industry of women-owned firms at just 11%, beating out only the construction industry (7%.) The national average of industries is close to 29%, with healthcare and social assistance leading the way at 53% of firms in the sector being women-owned. And while the sheer number of women-owned firms may be low, the news is not all bad for the industry. The fastest growth in the number of women-owned firms over the past 11 years has been in education services (up 113%), administration and waste services (up 58%), health care and social assistance (up 45%) and transportation and warehousing (up 40%). Comparing the growth in the number of women-owned firms to that of all firms in each industry sector since 2002 finds that women-owned firms are exceeding overall sector growth rates in eight of the 13 most populous industries. Since 2002, women-owned firms match overall sector growth exactly in the transportation and warehousing industry. Transportation and warehousing is one of only two industries (construction being the other) where women-owned firms are keeping pace with male-owned firms in terms of percentage of firms generating in excess of $500,000 annually. Women Executives in MHEDA These numbers jibe with observations made by many women executives in MHEDA.

Table of Contents for the Digital Edition of The MHEDA Journal - Third Quarter, 2014

President’s Perspective
From the Desk of Liz Richards
Editor’s Note
Ask Your Board
A Seat at the Table
Women in Business Trends
Happy Anniversary!
MHEDA at 60
A Powerful Marketing Advantage
MHEDA University Calendar
Best of the Best
An Untapped Resource
16 Tools to Build Your Service Labor Business
Personal/professional Relationships With Customers
Calling All Emerging Leaders
Omni-Channel Retailing
Design of the Mheda Disc Report
Convention 2014 Recap
New Members
Spotlight on Association News
MHEDA Milestones
Index of Advertisers by Product Category

The MHEDA Journal - Third Quarter, 2014