Young Women Entrepreneurs

Posted by: John Tozzi on July 11

Ever have to write a business plan, take it to New York, and present it four times in one week, including to folks from Goldman Sachs? That’s what 20 teenage girls are doing next week at an entrepreneurship camp run by the nonprofit Girls Inc. and sponsored by the Goldman Sachs Foundation.

For the third year running, young women ages 15 to 18 worked in teams of five to develop detailed business plans, complete with market research, cost estimates, financial statements, and marketing plans. The top four teams were selected from 13 groups competing to go to the free camp. Over the next seven days, they’ll meet with women business owners in New York, get training and mentoring, and refine their business models.

“It’s just putting them on that path just thinking about entrepreneurship and thinking about what goes into it,” Girls Inc.’s Cheryl Messer told me.

The four teams come from Connecticut, Florida, Massachusetts, and Texas. Their business ideas include digital yearbooks; an interactive venue for parents and young kids to play and learn together; green accessories made from recycled supplies; and an eco-friendly salon with organic products.

The goal isn’t to get the young women to actually launch these businesses, but rather to get them to think about entrepreneurship as a career. Women owned less than 30 percent of all U.S. businesses in 2006, according to the Center for Women’s Business Research, and while the number of women-owned companies is growing faster than the total number of firms, sales and employment growth is much slower than the total. The preparation offered by Girls Inc. (and other groups) can only help even that score.

Reader Comments

Lindsey Pollak

July 11, 2008 03:02 PM

Thanks for writing about this program, John. Most women entrepreneurs I know often say that their only regret is not starting a business sooner. I'm glad that Girls Inc. is helping more teenagers learn about this career option. I'm involved with a similar program, Make Our Daughters a Million, sponsored by Count Me In for Women's Economic Independence - www.makemineamillion.org

Does the Girls Inc. program have a website?

Thanks for a great post,
Lindsey Pollak
www.lindseypollak.com/blog

Epaph

July 13, 2008 01:30 AM

Sounds like it might be effective, but why only one big company and so few participants? Is there a similar program for young men in same age-group I can look into?

Carol Frohlinger

July 14, 2008 04:57 PM

One thing I never did while raising my daughter was to help her to decide whether she was an entrepreneur.

Programs like this one will help raise awareness that starting a business can be a very good choice - particularly for women!

Carol Frohlinger
http://thethinpinkline.com/blog
www.thethinpinkline.

James

July 18, 2008 05:40 PM

This is fantastic for these young girls. Placing young people in that sort of environment is very stimulating and can really influence future success. Also getting the right mentors is extremely important, especially if you are a young, inexperienced entrepreneur... look at this here... www.readtheanswer.com/index.php?RTA=web2

Kris

July 29, 2008 08:57 AM

The fact that Girls Inc. can coach young women in aspects of business planning and entrepreneurship is impressive indeed! I wish my daughter's had had this opportunity!! Keep up the good work!

Ruthie

August 5, 2008 06:56 PM

This is an excellent opportunity for girls who might not normally identify with the term 'entrepreneur', to start doing so - earlier the better!!

Ruthie Collins
Women's Enterprise Ambassador (UK)
The Hip Girl's Guide to Being an Entrepreneur
www.hipgirlentrepreneurs.blogspot.com

Find a mentor

August 11, 2008 10:00 AM

It's great to hear that there are more women becoming entrepreneurs everyday. Which is why I'd like to suggest a great website! Http://www.herfuture.com is a site geared towards helping women entrepreneurs emerge through mentorship and guidance from successful business women. If you are a female entrepreneur looking for guidance or to become a mentor and help other women, definitely check out the website.

Michelle Dunn

August 12, 2008 05:50 AM

This is a great program! What better way to help women feel empowered, smart, confident and strong. Every girl should know that being an entrepreneur is an option for them and this program is really helping them to see that and to learn how and what to do if that is the path they want to take. Girls are scared to take these steps and I believe this program helps them face that fear and take leaps they never would have.

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What's it like to run your own company today? Entrepreneurs face multiple hurdles new and old, from raising capital and managing employees to keeping up with technology and competing in a global marketplace. The writers and editors from the Small Business team, Amy Barrett, Amy S. Choi, Nick Leiber, Stacy Perman, Jeremy Quittner, John Tozzi, and Kimberly Weisul, discuss the news, trends, and ideas that matter to small business owners.

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