EMSDC Honors Women’s History Month
The month of March is a time to honor the contributions and achievements of women, both past and present, as well as their entrepreneurial spirit. As an affiliate of the National Minority Supplier Development Council (NMSDC), the Eastern Minority Supplier Development Council (EMSDC) advocates for “access to the American Dream for MBEs” throughout Pennsylvania, Southern New Jersey, and Delaware. This includes women-owned and led MBEs (Asian, Black, Hispanic, and Native American) that face their own unique hurdles toward upward mobility, and prevail nonetheless.
Economic Prosperity
Despite challenges like access to capital, childcare, sexism, and systemic inequities, there are nearly 13 million women-owned small businesses in the United States, according to the 2023 Women’s Small Business Ownership and Entrepreneurship Report by the Senate Committee on Small Business and Entrepreneurship. Many are also MBEs. “These businesses generate nearly $1.8 trillion in revenue and employ almost 10 million people,” per the report, and as such, access to economic opportunity for women “is essential to a nation’s economic prosperity and productivity.”
Economic Empowerment
Speaking on the economic impact of women-owned business, Forbes contributor, Rhett Buttle noted on October 30, 2023 that, “Women are turning to entrepreneurship at higher rates than ever before, as many women recognize that business ownership offers greater financial stability, flexibility, and opportunities for professional growth.” Additionally, “it’s crucial that there continue to be efforts in the public and private sectors towards advancing women’s economic empowerment.” This includes federal support, certification, and increased opportunities for growth and development.
Making History Today
Here is a small sample of the many remarkable, diverse women who are leading the charge, living the American dream, and making the business word a more inclusive space:
Heather Fleming: A Navajo woman, Heather Fleming “started Change Labs in 2019 to empower Native American-owned businesses,” according to a December 2023 interview with NPR. Serving as Executive Director, she “engages partners in and around the Navajo Nation to incubate, finance, and train new and prospective entrepreneurs in an effort to diversify local economies and promote innovation,” per Stanford/Native American Cultural Center.
Janice Bryant Howroyd: In 2022, Investopedia called Janice Bryant Howroyd “one of the most successful business people—of any race or gender—in America today,” noting that her employment firm, the ActOne Group, “was the first Black female-led company to bring in more than $1 billion in annual revenue.” Her net worth is 600 million.
Thai Lee: Number 5 on the 2023 list of “America’s Richest Self-Made Women,” published by Forbes, Thai Lee has a net worth of over 5 billion. “The first Korean woman to graduate from Harvard Business School,” she now serves as CEO of IT provider, SHI International.
Daniella Pierson: A 2022 report by NBC News called Daniella Pierson “the youngest Latina self-made millionaire” in the US. “Her female-focused newsletter, The Newsette, and mental health startup Wondermind — where she is a co-founder alongside actor Selena Gomez — make up the $220 million of her net worth,” per NBC News.
Jayshree Ullal: Also on the Forbes list, British-American Jayshree Ullal is President and CEO of Arista Networks, a computer networking firm with a revenue of nearly $4.4 billion. She has over 30 years of experience in engineering and a personal net-worth of nearly 2 billion, according to a July 2023 feature by The Times of India.
To learn more about our mission at the EMSDC and how to get involved, visit us at emsdc.org or contact us today.
The mission of the Eastern Minority Supplier Development Council (EMSDC) is to stimulate and support economic development with minority-owned businesses throughout Pennsylvania, Southern New Jersey, and Delaware, in an effort to initiate growth and opportunity through Supplier Diversity channels. As an affiliate of the National Minority Supplier Development Council (NMSDC), we certify and connect MBEs with member corporations that are committed to supplier development and want to purchase their products, services, and solutions.