Learning about Female-Owned Businesses from “1,000 Stories”
The Center for Women’s Entrepreneurial Leadership (CWEL) at Babson College has launched a campaign to learn more and subsequently teach others about women entrepreneurs. An extension of the CWEL’s Story Exchange program, “1,000 Stories” is a global campaign that includes a survey, which will help understand the challenges, goals, and needs of female entrepreneurs.
“This initiative will allow women around the world to learn the stories, challenges and best practices of other women entrepreneurs so that others can benefit from their successes and gain inspiration,” said Candida Brush, chair of the Entrepreneurship Division at Babson College, in a statement about the new project.
According to American Express OPEN, there are 8.3 million female-owned firms in the US, an increase of 50 percent from five years ago. Through these companies, $1.3 trillion in revenue is generated and 7.7 million people are employed. However, according to the Kaufman Foundation, when searching for first-year financing, female entrepreneurs in the US generally receive about 80 percent less capital than male business owners.
Women are encouraged to visit the “1,000 Stories” website, participate in the survey, and share their stories. The results will be published in a final report with recommendations, best practices, and more.
Below is a video that shares some women’s stories and explains more about the project.