“It is refreshing to see so many companies with women leaders doing so well in this economy,” commented Quantum Retail CEO Vicki Raport. “The whole team at Quantum is proud of the hard work we have put in to be able to be recognized amongst such a fantastic and deserving group.”
American Express OPEN and the Women Presidents’ Organization Name Top 50 Fastest-Growing Women-Owned/Led Companies
See Quantum Retail in the Top 10 Women-Led Companies in the Wall Street Journal
FORT LAUDERDALE, Fla. — American Express OPEN, the small business division of American Express, in partnership with Women Presidents’ Organization (WPO), today released the third ranking of the 50 fastest growing women-led companies in North America. The Top 50 generated a combined $2.3 billion in gross revenues (2009) and averaged 128 employees (2009).
“The Top 50 list exemplifies the vital role women business owners have on boosting the economy and enhancing job growth overall,” says Marsha Firestone, Ph. D., president and founder of the WPO. “We are pleased to partner with American Express OPEN to honor these powerful women and recognize their triumphs.”
“There are 10 million women-owned businesses in the US that employee over 13 million people and generate nearly $2 trillion in annual sales,” says Nancy Hood, Vice President at American Express OPEN. “We at OPEN are honored to support this group of women business leaders that thrived in a challenging economic climate.”
All eligible companies were ranked according to a sales growth formula that combines percentage and absolute growth. From this list, the 50 Fastest are selected. To be qualified for the ranking, businesses are required to be privately held, woman-owned/led companies in the U.S. or Canada and have reached revenue of at least $500,000 by the first week of 2005 and $2 million in 2009.
In order to help the Top 50 continue to seize even more business opportunities, each of the honored business owners will be offered a Business Platinum Card1 from American Express OPEN. The card will include 100,000 Membership Rewards® points, which may be used on capital investments including: the funding of employee recognition programs, business travel or the purchase of office equipment and supplies.
46 of the Top 50 women were polled to examine what makes them tick and uncover how they were able to grow their businesses at breakneck speed and in such a difficult economic environment. The survey touched on key themes including: overcoming business growth challenges, reexamining business strategies despite the current economic condition and prioritizing the important characteristics for being a successful woman leader.
The key findings include:
Reasons for success
- A commitment to high growth – 71% agreed or strongly agreed that their goal from the very beginning of their leadership of the company was to build a large company
- Inspiring leaders – 64% believe their “ability to motivate employees” is the most important characteristic for being a successful woman entrepreneur
- Surrounding yourself with a skilled team – 78% say “Hiring the right people” was the most important action that contributed to their company’s growth
- Adapting to a changing environment – The strategy most frequently chosen (64%) to meet the challenge of the current economy is to “enter new markets”. Sixty-one percent admitted current economic conditions caused them to change their business strategies
- Lower sales – 56% say their biggest challenge in our current economy is “existing customers reducing purchases.”
Positive Outlook
- Doubling their workforce – Nearly all (96%) plan on adding employees this year.
- Boosting the economy and their communities – Their ability to create much needed jobs is the greatest benefit of being a successful woman entrepreneur
All 50 companies were honored at a special event hosted by American Express OPEN at the WPO annual conference in Ft. Lauderdale on April 23, 2010.
Read at Miami Herald: http://www.miamiherald.com/2010/04/23/1594485_p3/trailblazing-women-business-owners.html#ixzz0lxQdwFf2
About the Women Presidents’ Organization and American Express OPEN
The Women Presidents’ Organization (WPO) is the premier peer advisory organization which internationally connects top women entrepreneurs at the multimillion-dollar level ($2 million in gross annual sales or $1 million for service-based business) for greater professional success. In monthly meetings across four continents, chapters composed of 20 accomplished women presidents from diverse industries and backgrounds invest time and energy in themselves and their businesses to drive their corporations to the next level. For more information, call 212-688-4114 or visit http://www.womenpresidentsorg.com. For more information on American Express OPEN, visit www.OPEN.com.
About Quantum Retail Technology, Inc.
The market is asking new questions. You need new answers. Q answers the new questions facing retailers today with solutions that enable them to profitably buy, move, and sell merchandise, solving the most complex and costly problems they face - quickly and permanently.
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