AZHCC, AZ News

Women-Owned businesses in Arizona focus of new report
Date:  2/28/2013
ArticleType:  Press Release

PRESS RELEASE
February 28, 2013
For Immediate Release

Contact:
Monica Villalobos
626.394.0204
The Arizona Hispanic Chamber of Commerce

Women-Owned businesses in Arizona focus of new report

Detailed post-recession survey of women-owned
business enterprises featured at the second annual
"Power of the Purse" luncheon in Phoenix on
International Women's Day, March 8th

PHOENIX, AZ- 02/28/13 - A major study of Women-Owned businesses in Arizona including pre- and post- recession analysis will be released Friday, March 8, at a downtown luncheon hosted by the Arizona Hispanic Chamber of Commerce (AZHCC) and the Women's Business Enterprise Council (WBEC) - West.

The 2013 Women-Owned Business Enterprise Report is the second in a series of studies commissioned by the AZHCC and Phoenix MBDA Business Center examining small business entrepreneurship in four categories: Hispanic, minorities, families and women. The 2012 Minority Business Enterprise Report was released last fall. Upcoming research will include Hispanic- and family-owned companies scheduled to be released in the summer and fall respectively.

"When Women-Owned and minority-owned businesses do well, our entire economy does well," said AZHCC President and CEO Gonzalo A. de la Melena, Jr. "Our goal with this study and the others we've authored is to gather research that provides decision-makers with the data and analysis they need to make informed choices about Arizona's economic destiny."

The luncheon's keynote speaker is Amber Cox, President and COO of the Phoenix Mercury basketball team. Amber was selected by the Phoenix Business Journal for its Forty-Under-40 Class of 2012. Iris Hermosillo of ABC 15 will emcee the luncheon at the Hyatt Downtown. The luncheon was organized by the Latina Business Enterprises, an outreach group of the Arizona Hispanic Chamber.

The data for the Arizona Business Research Series was gathered by WestGroup Research. The report is designed to serve as a resource for businesses, organizations, educators, government agencies and individuals who want to help Arizona women- and minority-owned small businesses succeed.

De la Melena said, "the reports, funded by Arizona Public Service (APS), offer insights into the challenges, strategies, characteristics and resources of several increasingly important segments of Arizona businesses."

"Given the state of Arizona's rapidly improving economic recovery, it's critically important that we understand how women-owned businesses survived the recession and how they feel about our state's future prospects," said Pamela Williamson, President & CEO of the Women's Business Enterprises Council-West, a co-host of the March 8th luncheon.

In 2012, the U.S. was home to "more than 8.3 million Women-Owned businesses...generating nearly $1.3 trillion in revenue and employing nearly 7.7 million people", according to a recent study commissioned by American Express. During the past 15 years, the number of Women-Owned businesses has grown more than 54 percent and revenues are up more than 58 percent. Latina entrepreneurs, meanwhile, are the fastest-growing single segment of small business enterprises overall in the United States.

The WBE Report documents a wide range of characteristics of Women-Owned businesses, but readers also get to hear directly from companies about how they survived the most severe economic slump since the 1930s.

Among the study's most notable findings: a strong majority of the women who own small businesses in the state believe their "financial situation" will improve in the coming year.

Other findings include:
• Women-Owned businesses' greatest needs were help with marketing their business (mentioned by 30%) and finding capital (14%).
• Most WBEs are self-funded and rely on personal loans or profits from the business to finance expansion.
• Two-fifths of the companies were sole proprietorships.
• Median revenue in 2011 was $155,910
• Median age of the company was 16 years old.
• Customer bases include both retail (54%) andbusinesses (56%)
• Half of the companies conducted business nationally (46%)
• One-fifth conducted business internationally (21%)

The "Power of the Purse" event also includes a mini-expo, 10:30 a.m.-11:30 a.m., and the 11:30 a.m.-1:00 p.m. luncheon. Admission is $30 for non-members, $20 for members, and $10 for students. Everyone who registers and attends the conference will receive a free copy of the WBE Report.
To register, visit www.azhcc.com. For more information, contact Christina Arellano at [602] 294.6085 or ChristinaA@azhcc.com

For an advance media copy of the report for press purposes, contact Monica Villalobos at [626] 641.0204 or MonicaV@azhcc.com

About AZHCC
Founded in 1948, the Arizona Hispanic Chamber of Commerce is the premier advocate for more than 60,000 Hispanic-owned small businesses and more than 2 million Hispanic consumers statewide. Led by CEO and President Gonzalo A. de la Melena Jr., the non-profit organization provides products and services in the area of market intelligence and capacity building, advocacy and education for the benefit and success of its members, corporate partners, and to actively promote the economic growth and vitality of Arizona. The Arizona Hispanic Chamber's annual signature events include the Black & White Ball and Business Awards; the publication of DATOS: Focus on the Hispanic Market and annual luncheon; the Arizona Minority Business Enterprise Summit; and El Torneo Golf Tournament-along with more than 60 other workshops, seminars, public forums and business networking activities. The Chamber also operates the Arizona's only federally funded Minority Business Development Agency Center, which provides access to contracts and capital for those mid-sized companies among the state's 100,000+ Minority Business Enterprises in search of growth and investment opportunities. A vital link to the growing power and influence of Hispanic business owners and consumers, the Arizona Hispanic Chamber is dedicated to promoting the health and prosperity of the state and national economy as part of an increasingly diverse global marketplace.

###

ARTICLE