Women Bridge Wage GapWith Self-Employment

While women have made progress in closing the wage gap, a new study finds that the advances are not as strong as national data suggests.

The study, conducted by the Institute for Women’s Policy Research and cited in a recent issue of Business Week, finds that when the average earnings of women throughout their career are examined, the average pay is about 44 percent of what a man in the same job earns.

“This continued wage gap is a big reason why women-owned businesses are growing at a significant rate, and why franchising is becoming an increasingly viable option for female entrepreneurs,” said Newtown resident Tim Stubbs of The Entrepreneur’s Source, a national business ownership consulting franchise.

Small Business Administration reports show that 9.1 million women-owned business enterprises employ 27.5 million people and contribute $3.6 billion to the US economy.

“A recent study by the Center for Women’s Research finds that women today are starting their own businesses up to twice the rate of men. Those are powerful statistics,” Mr Stubbs said. “It’s not surprising that women are turning away from the corporate world, where inequality persists, instead opting for a bright future as an entrepreneur.”

Mr Stubbs said that because franchising is broad-based, it gives the growing number of female entrepreneurs more possibilities to find the right business fit, while allowing greater flexibility to juggle work and family. In addition, franchisors have become more focused on targeting women as business owners, and have begun developing businesses to generate women’s interests.

The Entrepreneur Source is part of an international network of self-employment coaches who work with individuals and companies looking for opportunities for business ownership and expansion. For more information call Tim Stubbs at 364-9000 or visit the website www.thesource.com/Tstubbs or call the company’s Southbury facility at 800-289-0086.