The Boston Business Journal (BBJ) and the National Women’s Business Council report that women-led businesses account for approximately 7.7 million jobs nationwide and slightly more than $1.2 trillion in annual revenue, contributing roughly 12 percent of U.S. gross domestic product.
Annually, the BBJ recognizes the local women-led companies that contribute to the regional economy and provide the engine for growth and prosperity that enhances the lives of New Englanders. On Thursday, December 6, in partnership with The Commonwealth Institute (TCI), the BBJ celebrated and profiled “100 incredibly talented female executives and their companies who together set the standards for entrepreneurial success.”
Nearly 500 local business leaders attended the celebratory event. Susan Labandibar, founder of Tech Networks of Boston, which was named a Top 100 Woman-led Business, attended the event. Roxbury Technology Corporation, a Tech Networks client, and its CEO Elizabeth Williams were also recognized.
New research from Dow Jones entitled “Women at the Wheel,” reports that businesses with women senior executives “have a greater chance of either going public, operating profitably or being sold for more money.” Furthermore, “for start-ups with five or more female senior executives, 61% were successful.” For venture-backed companies, “a company’s odds of success increase with female executives at the VP and director levels. With every 10% increase in female executives at the VP level, the odds of success increase by 6%; for every 10% increase in female executives at the director level the odds of success increase by 3.3%.”