The Methodology: What We Did
The Accelerating the Growth of Businesses Owned by Women of Color study had two major research components. The first was a day-long Research Forum where women business owners of color who are accepted into the study met to learn from each other and experts. In order to be accepted, a woman of color entrepreneur had to submit an application and meet certain revenue and years-in-business criteria established at the beginning of the research study. The Research Forum uses Participatory Action Research (PAR), an interactive research method used when the purpose is two-fold — knowledge and action. PAR embraces reflection, thinking, talking, listening, and learning.
The Center for Women's Business Research held five Research Forums — in Atlanta, Chicago, Dallas, Philadelphia, and San Francisco — during 2007. A total of 138 women attended these forums. Participants focused on obstacles to business growth and strategies to overcome identified obstacles. They learned from each other in small groups, as well as from experts.
Two experts from Babson College, Dr. Donna Stoddard and Elizabeth Thornton, provided valuable content knowledge. Dr. Stoddard presented original case studies of women business owners of color which were prepared specifically for this research study. The day concluded with a panel of highly successful women business owners of color that shared from their experiences and answered questions from the participants. By the end of the Research Forum, each participant prepared a mini-action plan focused on one to three obstacles they had identified for themselves. These mini-plans were collected by the research team.
The second major component of Accelerating the Growth of Businesses Owned by Women of Color is the follow-up tracking and evaluation that occurs after a Research Forum. The individual information from the mini-action plans were entered into a database and the original plans returned to the participant. The research team followed the participants' progress at regular intervals over a 12-month period to determine success in overcoming each obstacle, as well as which strategies worked and which did not.
This type of continued interaction with the participants helps to keep the obstacles and strategies front of mind, as well as providing a better understanding of how long it may take for specific strategies to work. In addition, new information was gathered from the women during the 12-month follow-up period that provided supplementary and complementary knowledge about the women and their businesses. The women participated in a total of three online surveys, and approximately 50 percent were interviewed via telephone.
Funding the Research
A prestigious consortium of corporate and association sponsors provided funding for the research on Accelerating the Growth of Businesses Owned by Women of Color. (The * indicates supporters who have funded the project for all three years.) Corporate sponsors include: Sam’s Club*, Wachovia*, Wells Fargo*, OPEN from American Express, IBM*, AT&T*, Verizon*, UPS Capital*, Mastercard*, Time Warner, American Airlines*, Ernst & Young, United States Postal Service, PepsiCo, Principal Financial Groups, and eWomenNetwork.
Leading women business owner organizations and other nonprofi t organizations have recognized the importance of this research and also provided funding. They include: The National Association of Women Business Owners*, National Women’s Business Council*, Women Presidents’ Organization*, Women’s Business Enterprise National Council*, eWomenNetwork Foundation, and Level Playing Field Institute. Two other organizations, Women Impacting Public Policy and the Women’s Leadership Exchange are supporters. Enterprising Women was the media sponsor.
Greg Spragg, executive vice president merchandising, Sam’s Club and co-chair, supplier diversity, Wal-Mart Stores Inc., noted that Sam’s Club was founded with a goal of serving small businesses. “While much has changed and improved for small businesses in 25 years, minorities and women are this nation’s small business leaders of tomorrow — growing at faster rates than any other small business owner segment — yet, they still face recurring challenges that include access to capital, networking and financing. We are pleased that we could help play a role in the important work of the Center. We look forward to learning more about how Wal-Mart and Sam’s Club can be part of the solution to advance minority- and women-owned business.”
Selma Fox, senior vice president and director of women and minority-owned businesses for Wachovia Corporation, noted the importance of supporting research that can make a significant difference for women of color. “We are proud to support this study, which will help propel a broader understanding of the challenges and opportunities that women business owners who are African American, Latina, Asian, and other ethnicities face. The results of this study will enable us and others to become more supportive and forward thinking in how we help advance the growth and development of diverse-owned businesses.”
(These articles are reprinted from Vol. 9, No. 2 of Enterprising Women magazine. Copyright 2008, Enterprising Women Inc. Reproduction in whole or part is prohibited, except by express permission of the publisher. Would you like to comment on these articles? Send a note to our editors.)
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