Lessons from the 50 fastest-growing women owned/led companies:
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Most women started their business with their own funds, 22% with funds from friends and family, 6% with a bank loan, 6% with a line of credit, 4% with a credit card and 8% with private investors/angels. There are differences between fastest-growing male- and female-run businesses. An analysis of the 2014 Inc. 5000 List foundcommissioned by the National Women’s Business Council. Men were also more likely than women to tap networks of close friends and business acquaintances .
The average age of women-owner/leader is 50. Venture capitalists may use youth as an investment criterion, but women on the Fastest Growing List prove that age has its advantage. Older entrepreneurs have greater access to human capital and social capital and financial capital. Being a women-owned certified business has opened doors at large manufacturers and industrials for Mary Hensley and Julie Hashagen of Enspire Energy, #2 on the list. Enspire is only one of a handful of diverse suppliers in the field. Cindy Lee of LYNC Logistics concurs, being a certified women-owned business has been a great business development tool.
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