A businesswoman is any woman who holds a high position in business or firm. The phrase businesswoman refers to a woman who is good at handling the economic issue and participates in leadership roles in business. Companies who allow women on their board of directors generate more value to their firms as their market vision is broadened. Such companies have improved corporate reputation, enhanced board dynamics, and inspire other female stakeholders. In their research, the Catalyst Census of Women found out that, out of the 500-fortune list, only 15 % of the board seats are taken up by the female.
The majority of businesswomen are discouraged from holding corporate positions or taking part in business activities by a set of myths fixed by the society. The myths suggest that women are not suited to any business not to mention holding a leadership role in a company. Consequently, the myths have justified the lack of progress in women by keeping them “in their place”. The worse of it all is that their lack of progress is blamed on the women rather that the gender discrimination.
Women-owned business in third world countries is micro, medium or small. Often, the few business owned by the women do not mature, consequently increases poverty and discrimination. Understanding the problems and barriers facing businesswomen and providing solutions is the ultimate step to leverage the economic power in such countries.
Women-owned business in developed countries, particularly in the United States has doubled in the last two years. Currently, women own 31% of the corporate firms in the United States. The US credits affirmative action with the creation of an active generation of women in business ownership and leadership.
Susan McGalla is an American based businesswoman and an executive consultant. She was born in East Liverpool. She is known for being the CEO of Wet Seal Inc. and the President of American Eagle Outfit. Currently, she is on the HFF Inc. boards; HFF Inc. is a publicly traded company, which offers real estate commercial services. Mrs. McGalla was a trustee of the Pittsburgh University.
In closing, the number of women in business is increasing globally. However, they continue to face more and more barriers that stunt the growth of their careers in business. In response to this problem, World Bank has opened a clearinghouse for research and programs to empower women in business.