THE STATE OF WOMEN IN BUSINESS....Speech Transcript by Katerina Taylor

GOOD AFTERNOON. IT IS SO GOOD TO SEE SOME FAMILIAR FACES AND SOME NEW FACES. 
 
THANK YOU TO SHARA FOR BRINGING A WARM WELCOME FROM THE JUNIOR LEAGUE OF DEKALB AND TO ALL THE LADIES OF JUNIOR LEAGUE WHO ARE SHOWING HEIR UNSTOPPABLE SUPPORT.
 
THANK YOU TO MR SLYVESTER FORD AS IT WAS IMPORTANT TO ME THAT ALL WOMEN GET IN THE WORLD OF ENTREPRENEURSHIP. IF YOU DON’T HAVE A BUSINESS IDEA NO PROBLEM THERE ARE PLENTY OF WAYS TO BECOME YOUR OWN BOSS.
 
THANK YOU TO MY TWIN SISTER SHE IS TRULY MY INSPRITAION, AND THE “WHY” IN WHY I DO
MANY OF THE THINGS I DO. SHE IS THE PERSON THAT SAYS LETS VOLUNTEER OR GIVE BACK TO THE COMMUNITY, HER HEART IS BIG ENOUGH FOR BOTH OF US AND I AM EXTREMLY HONORED TO BE HER SISTER AND EXTREMBLY HUMBLED FOR HER TO BE WITH US TODAY.
 
MY SISTER HAS MADE ME A BETTER LEADER IN MANY WAYS SO PLEASE HELP ME TO THANK HER BY PURCHASING HER BOOK TODAY AND GETTING IT AUTOGRAPHED. 
DO WE HAVE ANY ELECTED OR APPOINTED OFFICIALS WITH US TODAY? PLEASE STAND AND BE RECOGNIZED.
 
THANK YOU TO ALL OF OUR SPONSORS  
I AM VERY EXCITED TO DELIVER THE STATE OF WOMEN IN BUSINESS AS THE STATE OF WOMEN
 
LADIES AND GENTLEMAN WE HAVE A LOT TO LEARN ABOUT THE WOLRD’S MOST FASINATING CREATION…WOMEN ENTREPRENUERS!!
 
FIRST I WANT TO START OFF WITH ONE STAT IN 5-10 YEARS ACCORDING TO THE ATLANTA REGIONAL COMMISSION 80% OF OUR WORKFORCE WILL WORK FOR A SMALL BUSINESS. LET’S BREAK DOWN WHAT A SMALL BUSINESS IS ACCORDING TO SIZE AND THE NUMBER OF
 
BUSINESSES REGISTERED IN GEORGIA. IN GEORGIA THERE ARE 795K BUSINESS REGSITERED AS OF JULY 1, 2018. OF THESE BUSINESSES 280K HAVE EMPLOYEES AS OF THE THIRD QUARTER IN 2017.

• 99.7% ARE CATEGORIZED AS SMALL (FEWER THAN 500 EMPLOYEES)
• 97.3% EMPLOYED FEWER THAN 100
• 94.1% EMPLOYED FEWER THAN 50
• 75.6% EMPLOYED FEWER THAN 10 

 
WOMEN ENTREPRENEUERS ARE CRITICAL TO GEORGIA’S ECOMONY, THIS COUNTRY’S ECONOMY AND GLOBALLY.  THESE NUMBERS EXPLAIN WHY WE NEED A SEAT AT THE TABLE AND WHY WE SHOULD BE GIVEN A CHANCE TO GROW A BUSINESS ANYWHERE WE CHOOSE.
       
SO BEFORE WE GET INTO THE HEAVY STUFF I WANT TO SHARE A JOKE I HEARD, AND I WILL ACKNOWLEDGE UP FRONT THAT IT COULD BE OFFENSIVE TO MY 2 BROTHERS AND ALL OTHER PEOPLE OF THE SAME GENDER.
 
3 GENERATIONS OF A FAMILY ARE WAITING IN A HOSPITAL TALKING WITH THEIR DOCTOR ABOUT A BRAIN TRANSPLANT FOR THEIR GRANDFTHER.  IT WAS INEVITABLE AND THE DOCTOR SAID THAT GRANDPA WOULD NEED ONE RIGHT AWAY. HOWEVER, BRAINS WERE THE MOST EXPENSIVE ORGAN TO FIND AND TRANSPLANT.  THE DOCTOR TELLS THE FAMILY FOR A MALE BRAIN IT WILL COST YOU $500K DOLLARS AND FOR A FEMALE BRAIN IT WILL COST ONLY HALF OF THAT.  THE FIRST AND SECOND GENERATION OF MEN IN THE FAMILY LOOKED AROUND AND NODDED IN AGREEMENT, THE YOUNGEST GENERATION WASN’T QUITE SURE WHAT TO MAKE OF IT, BUT AGREED IT MADE SENSE.  THE LADIES IN THE FAMILY ASKED WHY THE DIFFERENCE IN VALUE FOR A MALE BRAIN VERSUS A FEMALE BRAIN?. THE DOCTOR STATED THE FEMALE BRAIN IS ACTUALLY USED AND MALE BRAINS ARE NOT USED AS MUCH SO THEY ARE ALMOST LIKE NEW WHEN WE TRANSPLANT THEM.
 
NOW WHETHER YOU GOT THE JOKE OR NOT OVER THE LAST 20 YEARS WE HAVE USED SO MUCH OF OUR BRAIN POWER THAT THE NUMBER OF WOMEN OWNED BUSINESSES INCREASED BY 114% COMPARED TO A 44% INCREASE AMONG ALL OTHER BUSINESSES. A GROWTH RATE 2.5 TIMES THE NATIONAL AVERAGE.
 
 
AS OF JANUARY 2017 THERE IS AN ESTIMATED 11.6 MILLION WOMEN-OWNED FIRMS IN THE UNITED STATES THAT EMPLOY 9 MILLION PEOPLE AND GENERATE 1.7 TRILLION DOLLARS IN REVENUES.  HOW IS THAT FOR USING OUR BRAINS?
 
BY THE WAY MANY OF THE STATS I AM QUOTING TODAY ARE SOURCED FROM AMERICAN EXPRESS OPEN, THE GEORGIA OFFICE OF ECONOMIC DEVELOPMENT AND THE GEORGIA SECRETARY OF STATE OFFICE.
 
SINCE 1997 AN AVERAGE OF 849 NET NEW WOMEN OWNED FIRMS OPENED EVERYDAY. DURING THE RECESSION BETWEEN 2007 AND 2012 THERE WERE 1143 WOMEN OWNED FIRMS ADDED TO THE ECONOMY. DISPELLING THE MYTH THAT WOMEN DON’T TAKE CHANCES AND CONFIRMING THAT WE ARE INDEED THE MOST RESOURCEFUL BEINGS IN THE UNIVERSE.
 
SO LET’S DIG JUST A LITTLE DEEPER, AND TALK ABOUT THE DEMOGRAPHICS OF THE WOMEN WHO ARE RUNNING THE WORLD AND THEIR BUSINESSES.
 
FOR THE PAST 20 YEARS WOMEN OF COLOR HAVE DECIDED TO TAKE FATE INTO THEIR OWN HANDS AND JUMP FEET FIRST INTO ENTREPRENEURSHIP.
 
EARLIER I MENTIONED WOMEN OWNED FIRMS GREW BY 114%, WELL FIRMS OWNED BY WOMEN OF COLOR GREW 4 TIMES AS MUCH AT A 467% RATE.
 
BY 2017 MINORITIES ACCOUNTED FOR 46% OF WOMEN OWNED FIRMS OR MORE THAN 5 MILLION FIRMS
THUS CREATING WORKFORCE DEVELOPMENT OPPORTUNITIES OF MORE THAN 2 MILLION JOBS AND 360.4 BILLION DOLLARS IN REVENUES.
 
AS OF 2017
 
AFRICAN AMERICAN FIRMS ACCOUNTED FOR 19% OF ALL WOMEN OWNED FIRMS OR 2.2 MILLION BUSINESSES WITH 398K EMPLOYEES AND 56 BILLION DOLLARS IN REVENUE.
 
LATINAS OWN 17% OF ALL WOMEN OWNED FIRMS OR 1.9 MILLION BUSINESSES, 600K EMPLOYEES AND $103 BILLION DOLLARS IN REVENUES
 
ASIAN AMERICANS OWN 9% OR ACOUNT FOR 1 MILLION FIRMS, AND ADDED JUST OVER 1 MILLION JOBS TO THE ECONOMY, GENERATING $188 BILLION DOLLARS IN REVENUES.
          
 
NATIVE AMERICANS AND ALASKAN NATIVES OWN 1.4% OR 161K OF ALL WOMEN LEAD FIRMS AND EMPLOYS 61K PEOPLE AND GENERATE 11 BILLION DOLLARS IN REVENUES, WHILE
 
 
 NATIVE HAWAIIANS AND PACIFIC ISLANDERS OWN 34K BUSINESSES EMPLOYEE 15K WORKERS AND GENERATE 2.4 BILLION IN REVENUES.
 
LADIES WE ARE PUTTING IN WORK, IN OUR FAMILIES, OUR HOMES, IN OUR COMMUNITIES AND IN OUR BUSINESSES
 
AND I AM SURE EACH OF YOUR HOMES ARE SPOTLESS, IF NOT THERE IS A WOMAN OWNED FIRM THAT CAN HELP YOU.
 
WHAT OTHER KIND OF BUSINESSES DO WE HAVE IN THE ROOM? TRAVEL, SELF DEFENSE, PRODUCTS, SERVICES?
 
THE POSSIBILITIES IN THIS ROOM ALONE ARE ENDLESS. DID YOU KNOW THAT 849 WOMEN ONWED BUSINESSES WERE OPENED EVERYDAY FOR THE LAST 20 YEARS
609 OF THOSE BUSINESSES LAUNCHED WERE BY WOMEN OF COLOR,
AND 240 BY NON MINORITY WOMEN,

SO WE NEED TO STOP AND LADIES GIVE YOURSELVES AROUND OF APPLUASE!!!!
   
 
I’VE ALWAYS BEEN A DECENT WRITER AND VERY CREATIVE, AND WHEN I WAS IN THE 3RD GRADE A CLASSMATE ASKED ME TO WRITE SOME STORIES FOR HIM AND HE’D PAY ME A DIME
 
A STORY.  WHEN IT CAME TIME TO PAY HE GAVE ME THREE PIECES OF BUBBLE GUM. I LOOKED UP AT MY CLASSMATE WHO WAS MUCH TALLER BUT WE WERE BOTH 8 AND I SAID “ I DON’T WANT NO DAMN BUBBLE GUM” IT WAS THEN I KNEW MY OWN POWER AND MY ABILITY TO
 
 
CREATE A PRODUCT OR SERVICE THAT HAD VALUE.  AND I WOULD NOT SELL MY SELF SHORT BECAUSE I WAS A GIRL.
 
LADIES WE ARE WORTH MORE THAN BUBBLE GUM!
 
WE’VE BEEN TOLD FOR A LONG TIME THAT OUR BRAINS ARE LESS VALUABLE AND SO OUR PAY REFLECTS THE INEQUITY WOMEN IN THE WORKFORCE FACE EACH AND EVERYDAY. BUT BECAUSE OUR BRAINS ARE AWESOMELY AMAZING WE’VE DECIDED TO CAPITALIZED ON THEM.
 
WE DIVED INTO ENTREPRENEURSHIP WITH THE FOCUS AND INTENSITY WE WERE ALL CREATED WITH.  FOR THOSE OF US WHO ARE SUPER INTENSE, I AM SURE THERE IS A WOMAN HERE THAT OWNS HER OWN YOGA STUDIO. SEE HER AFTER MY SPEECH!    
 
SPEAKING OF TYPES OF BUSINESSES WOMEN OPERATE….. WOMEN LEAD FIRMS DOMINATE 3 INDUSTRIES. SERVICE,… HEALTHCARE…… AND PROFESSIONAL SERVICES….. 2.8 MILLION BUSINESSES ARE HAIR, NAIL OR PET CARE BUSINESS. 1.8 MILLION ARE HEALTHCARE AND
 
SOCIAL ASSISTANCE WHILE 1.5 MILLION INCLUDE LEGAL, ACCOUNTANT, ARCHITECTURAL PUBLIC RELATIONS, AND MANAGEMENT CONSULTING FIRMS.
 
IN RECENT YEARS THERE HAS BEEN AN INCREASE OF WOMEN FIRMS ENTERING INTO THE FOLLOWING MARKETS: CONSTRUCTION, ARTS AND ENTERTAINMENT AND RECREATION, AND OTHER SERVICES.
 
DR MARILYN CARROLL IS HERE AND HAS BEEN A MENTOR OF MINE FOR MANY YEARS.  SHE BID ON A SECURITY CONTRACT AND DIDN’T OWN A SECURITY FIRM, BUT SHE WON THE BID AND HIRED SOMEONE TO DO THE WORK.  WE HAVE TO EXPAND OUR MINDS ABOUT THE THINGS WE ARE CAPABLE OF. WE ALSO HAVE TO LEVERAGE PARTNERSHIPS AND RECOGNIZE OPPORTUNITIES TO OUTSOURCE.     
 
THIS SIMPLY ILLUSTRATES TO US THAT WOMEN HAVE DECIDED THAT WE WON’T LIMIT OURSELVES TO WHAT IS POSSIBLE
 
BUT LADIES….  THERE IS STILL ROOM TO GROW AND EARN HIGHER REVENUES. 
 
THE AVERAGE REVENUE FOR A WOMEN OWNED FIRM IN MANAGEMENT CONSULTING IS 3 MILLION BUT ONLY .02% OF WOMEN ENGAGE IN THIS INDUSTRY
 
WOMEN FIRMS COULD MAKE 1.8 MILLION IN WHOLESALE TRADE BUT ONLY 1.4% OF WOMEN ARE IN THIS INDUSTRY
 
A WOMEN OWNED FIRM COULD MAKE 1 MILLION IN A MINING FIRM BUT ONLY 0.2% WOMEN ENGAGE THIS INDUSTRY
 
AND FINALLY A 900K PURSE IS ON THE TABLE FOR WOMEN IN MANUFACTURING BUT ONLY 1.2% WOMEN OWN BUSINESSES ARE IN THIS INDUSTRY.
 
THESE INDUSTRIES ARE OPEN WE JUST NEED TO KICK IN THE DOOR! ITS ALSO A GREAT OPPORTUNITY TO PARTNER WITH ANOTHER DYNAMIC WOMAN.   
 
WE HAVE PROGRESSED IN AREAS THAT OUR GRANDMOTHERS AND GREAT GRAND- MOTHERS MIGHT NOT HAVE IMAGINED POSSIBLE, BUT WE… DID IMAGINE.  OUT OF NECESSITY, INNOVATION, OR JUST PLAIN OLD HUSTLE… WOMEN HAVE IMPACTED THE WORLD’S ECONOMY THROUGH ENTREPRENEURSHIP.
 
I HAVE ONE LAST STORY I WANT TO SHARE. WHEN I FIRST BECAME THE INTERIM PRESIDENT OF THE CHAMBER, I HAD NEVER HAD TO SOLEY ADDRESS A BOARD OF DIRECTORS THAT WAS NOT A NON-PROFIT. MY FIRST MEETING I TOTALLY BOMBED! THE NEXT MEETING I BOUGHT A NEW DRESS AND WAS UP EARLY TO BE READY THIS TIME, BUT WHEN I LOOKED IN THE MIRROR
 
SOMETHING WAS STILL MISSING. I HAD A BRAND NEW TUBE OF RED LIPSTICK, AND BEFORE THEN I HAD NEVER WORN RED LIPSTICK, BUT IT TURNED OUT TO BE THE AMOUR I NEEDED. I WALKED IN THAT BOARDROOM AS IF I HAD ARRIVED AND SOMEHOW THAT RED LIP COLOR BOOSTED MY CONFIDENCE.  IT WAS 3 YEARS LATER I DECIDED TO START CEO LIPSTICK.  I HAVE A COLOR FOR EVERY SITUATION AN EXCEUTIVE FINDS HERSELF IN. I HAVE 16 COLORS FROM BOARDROOM READY RED, TO POWER PLAY PURPLE, THE VIEW FROM UP HERE, CORNER OFFICE, 14 HOUR DAY, MADAM PRESIDENT AND COLORS LIKE SHE SAID SO SHE DID. FOR YEARS ITS BEEN MY ARMOUR AND NOW I WANT TO SHARE IT WITH THE WORLD.
NOW I THINKING OF OTHER THINGS THAT MAKE ME HAPPY HOW I CAN JOIN WOMEN ALL OVER THE WORLD IN BEING ENTREPRENUERS.
I ENCOURAGE MY STAFF TO BE EMPLOYPRENUERS, WORK A J O B AND FOR YOURSELF! RACHEA IS A GRAPHIC ARTIST AND WEBSITE DESIGNER, EMILY MAKES CUSTOM DOGGIE BOWTIES, KIM’S HUSBAND RAISED BEES SO IM HOPING A NEW LOCAL HONEY COMPANY WILL BE VREATED SOON.                    
DON’T WAIT UNTIL THINGS ARE PERFECT, DO IT NOW.
 
THERE IS SO MUCH MORE I WANT TO UNPACK HERE BUT FOR THE SAKE OF TIME I WILL ASK YOU TO GO TO MY WEBSITE AT WWW.KATERINATAYLOR.COM OR FOLLOW ME ON TWITTER @KATCONSULTS TO SEE A FULL TRANSCRIPT OF MY SPEECH.   
 
 
 FINALLY AS I END TODAY I LEAVE YOU WITH THIS CHALLENGE. AS OF NOVEMBER 2017 GEORGIA RANKED #5 FOR GREATEST NUMBER OF WOMEN OWNED BUSINESSES ACROSS THE COUNTRY.
 
 
THERE IS A WOMAN SOMEWHERE USING HER BRAIN TO FIGURE OUT HOW TO DOMINATE A NEW OR EXSISITING INDUSTRY. WILL YOU HELP HER ….WILL YOU SUPPORT HER ….
 
WILL YOU BE INTENTIONAL ABOUT SPENDING YOUR MONEY WITH HER.
 
 IT IS UP TO US TO HELP AND ENSURE THAT WOMEN OWNED BUSINESSES STAY IN BUSINESS.
 
I WISH YOU ALL MUCH SUCCESS IN YOUR BUSINESSES AND I LOOK FORWARD TO SUPPORTING YOUR BUSINESSES. 

see event photos here:  https://viewmyimages.smugmug.com/VISIONS-HD/Corporate-Clients/DEKALB-CHAMBER-OF-COMMERCE/Women-in-Business-Luncheon