A Note from Marguerita: Blue Ocean Global Wealth has decades of experience working with small business owners, especially women. We focus on helping you navigate transitions by not only providing sound financial advice, but a strong strategy to enable entrepreneurs to grow and change as their business does.
Of course, I can relate because I founded Blue Ocean Global Wealth because I wanted control of my future — finally, of course, but I also wanted to create a company that approached financial planning the way that I knew it would work best. When I worked at large financial organizations, often run by men, sometimes my perspective and opinions differed from my colleagues. While in these instances I knew their approach wasn’t necessarily wrong, I believed that they way I wanted to guide my clients would be more effective.
So I put my money where my mouth is and created my company.
I am not alone. According to the National Association of Women Business Owners, More than 11.6 million US firms are owned by women, employing 9.2 million people (8% of the total private workforce), and generating $1.7 trillion in sales as of 2017.
That means four out of every 10 businesses in America are now women-owned, and the number of female entrepreneurs of color is increasing at a rapid rate, according to analysis in the 2018 State of Women-Owned Businesses Report commissioned by American Express (NYSE:AXP).
In fact, women started an average of 1,821 new businesses a day in the United States between 2017 and 2018, a level of new business formation greater than the daily average during the pre-recession period from 2002 to 2007 (714), the recession and recovery period between 2007 and 2012 (1,143), and the post-recession period between 2012 and 2017 (952).
What does that mean for you? This expanding group of thought leaders now faces a set of diverse financial challenges. In my opinion, our sustained success is predicated upon balancing long-term financial planning with the daily rigors of running their own companies.
Stay tuned for articles and media appearances where I’ll talk more about how women can stay in control, come what may.
Questions on how I can help create a strategy for the financial future of your business? Click here to send me an email.