Aug. 13, 2004: “Spotlight on Our
Economy” Monthly Column for The
Palladium-Times
By L. Michael Treadwell, CEcD, Executive Director of Operation
Oswego County
Resources Available for Women Business
Owners
According to the Center for Women’s
Business Research in Washington, D.C., there are currently an estimated
10.6 million private businesses in the United States that are owned
(50 percent or more) by women, which account for nearly half of
all privately-held firms. These businesses generate $2.46 trillion
in sales and employ 19 million people nationwide.
In addition:
- Between 1997 and 2004, the estimated
growth rate in the number of women-owned firms was nearly twice
that of all firms and employment expanded at twice the rate of
all firms;
- Women-owned businesses will spend an estimated
$546 billion annually on salaries and benefits;
- Privately-held, women-owned firms are
just as likely as all privately-held firms to have employees;
- Annual expenditures by women-owned enterprises
for information technology, telecommunications, human resources
services, and shipping alone are estimated to be $103 billion;
and
- Between 1997 and 2004, privately-held,
women-owned firms diversified into all industries with the fastest
growth in construction, transportation, communications, agriculture
and public utilities.
Also according to the Center for Women’s
Business Research, there are an estimated 682,105 privately-held,
women-owned private businesses in New York State, which account
for 40 percent of all privately-held firms in the state. In fact,
New York ranks fourth nationally in the number of women-owned businesses
in 2004.
From restaurants and gift shops to manufacturing,
medical, law and real estate offices, businesses owned and operated
by women are also a strong force in Oswego County. According to
the U.S. Census, out of 6,832 entrepreneurial businesses in Oswego
County, 2,673 (39 percent) are owned by women--comparable to the
number of women-owned businesses on a statewide level.
Several resources are available to women
seeking to expand or start a new business in Oswego County including
SUNY Oswego’s Small Business Development Center (SBDC), the
Oswego County Micro-Enterprise Training Program, the Women’s
Network for Entrepreneurial Training (WNET), New York State's Division
of Minority and Women-owned Business Development (MWBD), the SBA
504 loan program administered by Operation Oswego County (OOC) and
the County of Oswego Industrial Development Agency’s (IDA)
revolving loan program.
The SBDC, a service of the
Center for Business and Community Development now located in Rich
Hall, SUNY Oswego's School of Business facility, provides a wide
range of management and technical assistance such as business plan
development, exploring funding options, business expansion, marketing
and training, workshops and seminars.
OOC works cooperatively with the SBDC and
the cities of Oswego and Fulton to provide a Micro-Enterprise
Training Program which is designed to guide the entrepreneur
through all aspects of starting and managing a small business. Step-by-step
classroom instruction is presented by area business professionals
on topics including business planning and financing, accounting
and tax issues, marketing, and business insurance. Graduates of
the program are eligible to apply for a Micro-Enterprise loan to
expand or start their business in Oswego County from the IDA’s
Micro-Enterprise Revolving Loan Fund. For more information about
the Micro Enterprise Training Program, visit www.oswegocounty.org/micro.html.
WNET is part of a nationwide
roundtable for women business owners sponsored by the SBA. Through
networking, presentations and information sharing, WNET provides
professional development and personal growth for women business
owners. The program is coordinated locally by Cornell Cooperative
Extension of Oswego County with assistance from BeautiControl, Fulton/Oswego/BaldwinsvilleDailyNews.com,
Oliver Paine Greenhouses, OOC, Oswego Community Development Office,
Oswego County Chamber of Commerce, SBDC and the SBA. Upcoming WNET
programs will be held on Thursdays, Sept. 2, Oct. 7, Nov. 4 and
Dec. 2. Contact Cornell Cooperative Extension of Oswego County’s
Small Business Program at 963-7286, extension 501, for more information
or to register.
MWBD certifies minority
and women-owned business enterprises and publishes a directory of
certified firms to market small businesses to public and private
sector organizations. MWBD also provides technical and financial
assistance for established minority and women-owned businesses.
OOC is authorized to finance projects using
the SBA 504 loan program which is designed to promote
economic development growth and job creation in small businesses
and make the overall financing structure for a new business or project
more attractive and affordable. The program offers accessible, fixed
rate, long term financing for land, buildings and equipment. Businesses
eligible for SBA 504 loans are independently-owned, for-profit businesses
that are ready to expand and create jobs. For a small business to
be eligible, it must have a net worth less than $6 million and annual
after-tax profit of less than $2 million.
Last week, Sure-Lock Industries, LLC of Red
Creek announced that it will relocate its hardwood flooring business
to a 60,000 square foot building within the Oswego Warehousing compound
on East Seneca Street in the city of Oswego. The $1.4 million project
is expected to create 16 jobs initially and eight additional jobs
within the first year. In addition to funding from the IDA, other
partners who will help finance the new manufacturer include the
City of Oswego Community Development Office; a New York State Senate
grant secured by Sen. James Wright, 48th District, Watertown; HSBC;
Niagara Mohawk; and the Central New York Regional Planning and Development
Board. The project will be located in the Oswego Empire Zone.
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