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Management

Hard From The Start: Which Industries Are Best For Female Entrepreneurs?

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Equality in society is something which is always improving. Rights have steadily been becoming increasingly universal as time has gone by, with more and more people being afforded the same level of living standards. Of course, though, there are still some areas which are severely lacking.

The gender pay gap has been highlighted in media very frequently over the last few years, and what we really want to know – is the wage gap between men and women shrinking?

Gender Pay Gap

The gender wage or pay gap is the average difference in pay between men and women. There are a couple of primary reasons for the gap.

Why the pay gap?

Women have chosen to work less hours, they may choose to work part-time so they can work around the school drop off and pick up times. They also take maternity leave and may extend it longer than the standard number of weeks of ‘paid maternity leave’.

There is also another reason, and it’s not voluntary, discrimination in the workplace and the value of a female worker versus a male worker doing the same job. The good news is the gap is shrinking and while it exists from the shop floor to the boardroom, women are fighting back.

Some industries are more male centric and they have been harder to win around with equal pay for equal work. The good news is there is upwards movement for women in all roles in and saying this, what about the most critical positions out there? How many female entrepreneurs make it to executive levels, and which industries are best for this half of the population?

Females In Executive Roles

In 2018, Fortune 500’s companies list only featured 23 female chief executives. Dropping 25% from the previous year, it seems as though the number of women in high levels of business is dropping, though this may not be the case. Sheryl Sandberg is an excellent example of a COO at one of the world’s largest companies; Facebook. Having been at the company for more than ten years, she is living evidence that it is possible for women to achieve positions which men have traditionally held.

To get a good idea of where women seem to do best in this field, it’s best to take a test sample. In this case, we’re going to be looking at an organization which works towards equality in a range of fields, one of which is business.

Where Are The Women Executives?

You can find Involve’s top 100 Female Executives at list link. While this list doesn’t cover all of the women in business, it offers a good range of different people.

We’ve taken each of the women on the list and put them into one of eight categories; technology, finance, retail, infrastructure, politics/activism, business, health, and manufacturing. You can find the results below.

As you can see, finance and business are the clear leaders when it comes to fields with female executives. Technology doesn’t happen too close behind, though, and it’s good to see that so many types of business make a showing. It makes sense that finance is so prevalent here.

Financial companies make up a vast amount of the world’s trade, and you don’t tend to get a small one, making them all need their executives. Some of the companies on the list are massive, while others were started by the lady in question. M62 Vincis’ Nicci Take is an excellent example of this and is someone who pushes for equality in business.

Which Field Is Best For Women?

It’s hard to say which field is best for women, especially when you break it down like this. If you look at success as working for a large company, someone like Michele Evans could be a good source of inspiration, as she heads the $21 billion giant known as Lockheed Martin. This company makes all sorts of machines, with a heavy focus on those with military applications. This isn’t the sort of work a lot of people would associate with a woman, as war is a heavily male-dominated industry, but this shows that the world is getting better at recognizing merit over gender.

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Management

3 reasons To Turn Down An IPO And Remain A Private Business

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Floating the company you founded on the stock market is the dream of many entrepreneurs. After all, what’s not to like? You can free yourself from the grind if you want, make lots of capital to reinvest, own shares that could be worth millions in the future, and potentially see your business go on to new heights.

But many great founders have resisted the temptation; entrepreneurs such as Johan H. Andresen founder of the Ferd Group, Andrew Nisbet founder of The Nisbet Trust and Fernando Simões, CEO of family-firm the JSL Group. All doubtless had the opportunity to go public, but for various reasons decided to keep their businesses privately owned.

Here are just three reasons to think twice about floating your business, however tempting it might seem.

You’re at the mercy of your shareholders

It might seem obvious but when you float you effectively lose control of your business and almost every big decision becomes subject to shareholder approval. This is a significant issue and most privately held companies understate the impact. It’s worth being very clear in your mind before you float that shareholders often have a very different view of how the company should develop in order to turn a profit.

Many companies that float have been turning a good profit for years but suddenly they have a whole new set of pressures to deliver short term. Most shareholders, certainly the smaller individual investors, want to see returns quickly, and they have considerable power to veto many strategic decisions that are designed for steady long-term growth.

This can undermine cash flow and reduce overall profits. As a private businesses, this is not such an issue. But when you have a bad year as a PLC everyone will know about it, which can lead to increased media scrutiny, and negative press. This is no small matter. As soon as you float, you become the public figurehead of your business, and many entrepreneurs have found themselves subject to unwanted attention.

You’re also at the mercy of shareholder activists, and if they feel like you’re making the wrong decisions, or even accidentally aligning your company with unethical suppliers, you can find that you’re subject to a takeover bid.

Costs and regulation increases exponentially

Floating is an incredibly expensive undertaking, costing up to something in the region of £300,000, or 25% of the cost of money raised in the IPO. It’s not an inconsiderable sum. Plus the paperwork is huge. One well-quoted executive of a company that listed its shares on the London Stock Exchange reckoned he had processed around 200,000 sheets of paper in the form of documents during the process.

Before you go public you’ll also need to undertake a whole raft of expensive procedures. These include in-depth due diligence reports, analysis of all your supplier contracts, disclosure of your financial forecasts and making public your directors’ pay.

But even if that’s doable, once you’re a public company you become subject to a huge amount of new regulation, which can trip you up at any point down the line. Your reporting functions will need to grow to accommodate statutory financial and governance reporting; every six months as well as ensuring any changes or events are reported on an ad hoc basis.

You are no longer running a private family business

One of the key reasons why firms do not float is that many founders think very long term, and are drawn to the idea of creating a legacy. In fact, the majority of private business owners are happy to keep things in the family.

According to the Institute for Family Business, as it stands today 85% of all the private sector firms in the UK are family owned and operated, and they account for 50% of private-sector employment in the country. In the US, the figures are similar: there are more than 5.5 million family businesses and they employ more than 63% of the workforce.

These numbers speak for themselves. Most business owners are happy with the state of play, they don’t want to float their companies and they don’t want to lose the ability to create a multi-generational business that they can pass down through the family.

So at the same time as you consider the obvious positives surrounding taking your business public, and there are many, don’t forget to factor in what you’ll lose too.

A warm thank you to Sharon Fishburne for this contribution.

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Management

What A CEO Learns from An Executive Coach

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A CEO’s task is flexible. They are often the voice of investors, both internal and foreign, liaising with leadership, the committee of directors, and the audience. They are also accountable for the company’s long-term approach and product principles for staff.

Newly assigned CEOs require proper guidance for them to do their job correctly. A startup CEO coaching course provides the needed assistance for a CEO to develop and form positive decisions.

Values You Can Gain from A Coach

With a startup CEO coaching course, you’ll be able to gain crucial benefits and lessons that will help you become an active CEO for the company. Here are some of the learning you can get after a successful coaching session:

  • Receptivity Is Vital. It is essential in listening to others’ opinions about you. Fellow CEOs and business managers can give you recommendations based on their knowledge. It is critical to accept their feedback in decision-making. Demonstration of excellent hearing abilities and a real interest in others encourages your picture externally. It also increases your knowledge of how a company works every day and leads to stronger company choices.
  • Stay Motivated. A successful CEO must have the capacity to achieve an objective with passion and to instill this same approach in others. To get the full results from your company implies to get the maximum help from your people.A company-driven and engaged co-workers will operate easier and will want to move the company ahead. Determine how you and your team can produce meaningful actions.
  • Show Adaptability With Continuous Changes. Advances in your company or enterprise can cause a drastic effect on your approach, goals, and decision-making. It is a reliable instrument to acknowledge these changes and alter course if needed. A CEO must also stand in a position where they can adjust their performance to the needs of the company. It doesn’t matter whether it’s for an international or a startup company.
  • Have A Clear Vision. A CEO must have a definite path to guide the company. Ambition and optimism are good things, and the head of a company must have faith in those goals. Being capable of inspiring others to purchase into your dream is a significant management instrument.
  • Gain Trust with Honesty. Inspiring confidence and respect is a sign of an efficient CEO and an essential element of being a reliable leader. Investors must have confidence in your capacity and trust to delegate to those with whom you operate. A trustworthy CEO must have the time to concentrate on the broad outline – CEOs who gain trust benefits from the positive working atmosphere they created.

A Coach Helps You Attain Your Goals

Reaching your objectives is the ultimate step towards sufficient coaching involvement. An excellent trainer can assist you in understanding your objectives, aspirations, and what you can do to accomplish them. Your coach isn’t dependent upon you for success, unlike your family or your staff.

They are honest about how you do and provide unbiased opinions. Finally, and most significantly, your coach can educate you about new methods to think and operate as an excellent CEO. At the end of their coaching, you will develop abilities to help you achieve your objectives.

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Management

Things to consider when finding an office space for rent Dallas

Dallas

The high demand for office spaces in Dallas, Texas has become very difficult for one to identify a space that is suitable for their organization. If you have a small employee count, you can share your office spaces among various other companies to cut on the costs.

When looking for an office space for rent Dallas, you should always make sure that you consider:

  • The geographical location of the office. The location should be strategic to make sure that your clients, suppliers, and employees can access it easily.
  • The building that you rent your office space from should be designed in such a manner that it is able to attract clients for you, depending on the type of business that you carry out.
  • The price of the rent should be well within your budget, which makes it easy for you to afford the place without running down your business or compromising on quality.
  • The premises should be designed in such a manner that there is a receptionist that will be able to direct your clients, suppliers, and investors to the office space. You don’t want your clients to show up to your office feeling confused about what to do next.
  • The building in which you decide to rent out your office space should be able to provide 24- hour security as this makes sure that you feel secure while running your business.
  • The building should also provide maintenance services that make certain that your office premises are tidy and well kept. Without this, your clients and employees would have to deal with an untidy office and that could lower productivity.
  • You should keep in mind the number of staff that you want your office to accommodate. The space should be sufficient enough to accommodate your entire team.
  • There should be enough parking spaces that will make sure that your visitors are not stranded.

When getting an office space for rent Dallas, there are various methods in which you can pay for it: through hourly rates, daily rates, monthly rates, or even yearly rates. The office spaces are available for rent and lease, depending on your preferences and needs. The Office Finders guarantee that you get the office space you want at the right time and at an affordable cost.

The office spaces are available for companies or individuals who need conference rooms, co-working with another team on a particular project, meeting room, private office, cubicles, training rooms, presentation rooms, personal workspace, temporary space, document review, project space, satellite office, desk space, and board room.

Office Finder makes it easy for you to negotiate the rental agreements and for you to get a suitable office location for your company. All you have to do is approve the spaces that are available and make it easy for you to compare so many office spaces before you settle on one.

Some of the rental office spaces Dallas include:

  • Dallas – CBD office market
  • Dallas – North office market
  • Dallas – LBJ freeway office market
  • Dallas – Uptown office market
  • Dallas – Preston Center office market
  • Dallas – West End office market
  • Dallas – Stemmons freeway office market
  • Dallas – Victory center office market
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