The world of business and boardrooms is no longer the boys’ club it used to be. Women have shouldered their way in for a seat at the table. However, it’s important to note, women don’t seek to shoulder men out of the way; they want only to work shoulder-to-shoulder with men as they make their own way. The U.S. Small Business Administration reports that women-owned business—WOB—is one of the fastest-growing segments of the small business community. And according to the National Federation of Independent Business, over half of all new small business jobs created in the next five years will come from businesses started by women. A 2018 article in Yes Magazine suggests women are finding success because they excel at networking and see business through the lens of connection rather than competition. The article further points out that women entrepreneurs are likely to form long-term bonds with employees, leading to longer tenure. In short, women are redefining the way business is done.
Women often redefine themselves as they redefine the way business is done. Owning a business, to begin with, can empower women and connect them to their community. Studies show that women tend to own businesses ten years later than men, often because they find themselves empty nesters after dedicating their lives to raising children. That was the story for Lou Panzarella, owner of the women’s boutique Spree at the Danville Livery, who found herself looking for a place to put her energy after her children left home. “Opening Spree definitely gave me a sense of purpose after my kids were raised,” Panzarella said. “My kids supplied the connection to my community, and I found myself losing that as I got older. Opening my business restored that connection. Now my customers will sometimes bring lunch when they come in.”
Owning a business also allows women to blow away stereotypes and gender expectations. Executive Coach Maya Hu-Chan says owning a business develops a sense of presence in women, a deportment that says, “listen to me” not “look at me.” Panzarella agrees. “My store gives me a sense of credibility. I never thought I would own my own business, have my own debt, my own responsibility,” she said. In the back of Panzarella’s store hangs a poster with one of her favorite aphorisms: She believed she could, so she did.
Perhaps most importantly, women who own businesses can develop flexibility in their schedule and create a sense of control over their lives. In a recent article for Forbes, writer Caroline Castrillion reports that women remain primary caregivers and cites a study in Sage Journal that indicates the primary reason women start a business is to accommodate work to their family’s needs. Tal Sendrovitz, a single mother who owns Tal’s Patissiere in the Danville Livery, says this is absolutely true. “If I had stayed in the corporate world I would be locked into strict hours and a commute. My own business allows me to work at home behind the scenes and to always pick the kids up from school. I started my business when my little one was 5 and someone had to be there for the kids. That had to be me.”
There are many stories that speak to the power of women-owned businesses. The Danville Livery boasts 34 women entrepreneurs, each one forging her own way to contribute to the center’s personality and the community’s vitality. Collectively these strong-minded women are fondly known as The Ladies of the Livery; individually each has a vibrant and interesting story to tell. If you would like to read some of these powerful stories, you can visit ladiesofthelivery.com.
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