More Women Are Enjoying Being Their Own Bosses – New York Times
April 13, 2006 by Mary Wynne-Wynter
There are 3 points I'd like to emphasize about this story (NYT$):
- SoLo (a business of one person) is a sensible and efficient model
- SoLo's build their business upon existing foundations: skills, experience, talent, desires
- You will finance your SoLo business yourself, and its worth it
More Women Are Enjoying Being Their Own Bosses - New York Times:
More Women Are Enjoying Being Their Own Bosses
Douglas Healey for The New York Times
The center estimates that about 5.4 million firms fall into the category of women-owned businesses with no employees, and they generate an estimated $167 billion in sales annually. Most run their businesses from home, and many are refugees from the corporate world.
"Work is changing," said Gwen Richtermeyer, director for research at the Center for Women's Business Research. "Women are becoming more independent and sorting out 'How do I do what I need to do to make living?' "
By not having employees, small-business owners are able to avoid headaches and extra costs associated with maintaining a payroll and health insurance. Still, keeping a small business alive can be challenging. Finding financing is rarely easy; many entrepreneurs rely on credit cards, family, friends and savings.
According to statistics provided by the Small Business Administration's office of advocacy, the one-year survival rate for start-up businesses is 81 percent, the two-year rate 66 percent and the four-year rate 44 percent.