| 40 years ago, it would have been rare to find | | | | higher return on equity than those with the lowest |
| women running, much less owning their own | | | | representation. |
| businesses in Australia. In fact, if we look at my | | | | |
| career choice, to be a Trade Commissioner for | | | | 34% higher return on investment |
| Australia, it would actually have been impossible! | | | | |
| | | | | There is no better business case for us to encourage |
| Fortunately times have changed, at least in Australia | | | | more women into business. |
| with women currently running about 1/3rd of | | | | |
| Australia's 1.9 million small businesses, and almost 50% | | | | But we are often our own worst enemies. Surveys, |
| of the home-based businesses (which is also one of | | | | prior to the global financial crisis, from people like the |
| the fastest growing sectors of the economy). And | | | | Women's Enterprise Task Force in the UK noted that |
| again, if we look at my career choice in the public | | | | women frequently cite a lack of confidence as |
| service, women hold around 36% of senior executive | | | | reasons for lower risk appetites, lower debt and |
| positions. | | | | slower, more consultative decision-making processes. |
| | | | | Well in the post GFC period, lower risk profiles, more |
| But we still have much to do when compared to | | | | collaborative working styles and lower debt all seem |
| some other countries like Norway, USA and the UK . | | | | like strengths to me, not weaknesses. |
| In the US surveys show that 89% of companies on | | | | |
| the S&P 500 have at least 1 woman on the | | | | Yet that lack of confidence thing is something only |
| board and 64% have more than one. In the UK the | | | | we, ourselves can address. It holds us back and holds |
| figures are closer to 77% of FTSE 100 companies | | | | back our economic future. We need to be aware of |
| having at least 1 woman. | | | | it and how it translates on our ability to do business. I |
| | | | | recently read a quote by Dr Rebecca Harding of the |
| Yet similar figures for Australia show only about 29% | | | | London School of Economics where she said: |
| of boards have at least one female (top 500 | | | | "Women cannot always sell their business ideas well |
| companies). And worse, for our top 200 listed | | | | to male investors. Women have a lower expectation |
| companies women represent 8% of Board members, | | | | of how their business is going to grow, even when |
| 6% of CEO's and only 2% of Chairpersons. | | | | they are very high powered. Women are far more |
| | | | | risk aware, frightened that things will go wrong and |
| This despite the fact that surveys abound that show | | | | frightened of flying too close to the sun". |
| a businesses financial performance is usually greater | | | | |
| with female management, than without. Specifically, | | | | I don't know if that ever rings true for you, but for |
| a Catalyst report used by Barclay's shows that | | | | me, in the times when I doubt myself I try to |
| companies with the highest female representation on | | | | remember the fact that I can make a difference - at |
| their senior management teams enjoyed a 34% | | | | least a 34% difference. |