Summer Teen Goals: Contributing to the Rise in Women Owned Businesses
Recently the resident teen went to a babysitting certification class. It was a new experience not just for her but for us too. In the world me and the hubby grew up in there was no such thing as a babysitting class. You watched mama, grandma and auntie really close when it came to learning how to take care of children. Periodically they’d call you in to assist: Watch your brother in the tub. Keep an eye on your brother and sister playing in the front yard. Pick your little sister and cousin up from the bus stop and fix them a lunch when you get home. Other times you watched mama, auntie or grandma change diapers, heat up bottles and become a human rocking chair to get a crying or fussy child to sleep. For emergencies you knew to call 911 or to go and get a trustworthy neighbor. Babysitting class 101 right at the house. Any babysitting was usually compensated not with money but with family ‘time share’. In exchange for time spent babysitting for auntie, she would pick you up from basketball practice afterschool on her way home from work. An arrangement made, I might add, usually without any input or consultation with the family teen babysitter. From that experience you learn the art of helping family, but not necessarily anything about using your skills and talents to make a dollar. Fortunately for the resident teen we are teaching her to do both. For some family members she still babysit on a time share basis. But now with her babysitting certification she can babysit others – like having her own business …in a sense. We are not trying to make our oldest start up the next care.com (though that would be nice). But we figure now is the time to teach her the importance of establishing a good name for herself by being a professional (deliver a great product), create flyers (marketing) and be prompt (good customer service). Encouraging our daughter now to be business savvy is especially important given the fact that: In 2007, White women had a median wealth of $45,400, compared to $100 and $120 respectively for African American and Latina women. Fortunately the future is looking bright if either one or both of my daughters decide to be an entrepreneur. According to the 2015 State of Women-Owned Businesses Report
- The number of women-owned firms in the U.S. continues to climb, and is now estimated to have surpassed 9.4 million enterprises—30 percent of all businesses in the country;
- Within the population of women-owned firms, a major driver of growth and diversity is multicultural enterprises.
- Multicultural women-owned firms account for one in three (33%) women-owned firms