Women's Businesses Spend $$$

The spending power of businesses owned by women continues to grow. According to estimates by the Center for Women's Business Research, "Annual expenditures by American women-owned businesses in just four areas—information technology, telecommunications, human resource services and shipping—amount to $103 billion." That is just in four key areas—imagine how the rest of that pie might look.

Companies today are continuing to recognize the buying power and influence of women. A recent article published in the Chicago Tribune on August 9th (free registration required) recounts how one businesswoman moved her banking to Wells Fargo because they had seminars and sessions focusing on helping women's businesses succeed. In other words, they added value! Other companies, such as American Express, annually invite women business owners to apply to "Make Mine a $Million Business," a program that selects 20 women business owners and helps them to develop and increase their annual revenue to a million dollars. (Filing deadline for fall 2006 is Sept. 29th.)

Women pay attention to these services, and they embrace and support those businesses that develop great working relationships with them. What's your piece of the pie?