Latest news with #Women-Owned
Barnama
30-04-2025
- Business
- Barnama
Women Own 219,015 Businesses, Make Up 20.1 Pct Of Establishments In Economy In 2022
PUTRAJAYA, April 30 (Bernama) -- A total of 219,015 active women-owned establishments were recorded in Malaysia in 2022, representing 20.1 per cent of the total registered establishments in the country's economy, according to the Women-Owned Statistics based on the Economic Census 2023 released by the Department of Statistics Malaysia (DOSM) today. Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin said the number of women-owned establishments operating in 2022 shows an annual growth rate of 2.3 per cent as compared to the 2015 census, with 187,265 establishments. He said 93.6 per cent or 205,012 establishments were concentrated in the services sector, followed by the manufacturing sector with 8,469 establishments, and the construction sector with 3,869 establishments. 'Findings by subsector showed that more than 70 per cent of the women-owned establishments were involved in the wholesale and retail trade subsector with 45 per cent and the food and beverage subsector with 31.1 per cent,' he said in a statement. Selangor remained the top state with the highest number of women-owned establishments in 2022, contributing 15.9 per cent of the total, followed by Sabah (22,740 establishments), Kelantan with 21,079 establishments, Kuala Lumpur with 20,237 establishments, and Johor with 19,495 establishments. 'These five states accounted for more than half of the total women-owned establishments in Malaysia,' he said. Mohd Uzir said the value of gross output generated by women-owned establishments amounted to RM136.9 billion in 2022, contributing 3.6 per cent to the overall economic sector in Malaysia with the services sector generated the highest gross output value with RM83 billion or 60.7 per cent share while the wholesale and retail trade subsector was the catalyst which contributed 37.7 per cent or RM31.3 billion. 'In line with the increase of gross output, the total value added for women-owned establishments grew 6.5 per cent annually, increased by RM21.8 billion to record RM61.4 billion in 2022 from RM39.6 billion in 2015. 'The main contributor to the value added was the services sector, registering 72.2 per cent or RM44.4 billion with an annual growth rate of 5.7 per cent. Meanwhile, the manufacturing and agriculture sectors contributed RM10.5 billion and RM5 billion respectively,' he said.
Forbes
14-04-2025
- Business
- Forbes
Small business capital wIth coaching, and community support.
The acquisition of IFundWomen (IFW) by Honeycomb Credit, announced today, signals a transformative shift in small business financing—one that goes beyond capital to provide everything entrepreneurs need to succeed: coaching, community, and connection. At a time when traditional funding is increasingly out of reach, this merger combines two proven models that address not only access to money but also the technical support and peer networks critical for business success. Together, they are redefining what it means to fund a business—particularly for women and other underestimated entrepreneurs—by creating a more human-centered, sustainable, and empowering funding ecosystem. Honeycomb's acquisition of IFW is more than just combining two types of crowdfunding platforms—it's about creating a more complete path to funding for young and small businesses, backed by entrepreneurial support. Both companies understand that while capital is critical, it's not enough. Building a small business also takes know-how, guidance, and a community to lean on when making decisions. "The vision is to create the place on the internet where entrepreneurs come not just for the capital," explains Honeycomb's CEO and cofounder, George Cook. 'Coaching helps with technical assistance. Community is finding other entrepreneurs who have been on that journey before and not having to learn every lesson the hard way." IFW's success has been built on its emphasis on coaching, a philosophy shared by Honeycomb. Karen Cahn, founder and CEO of IFW, and board member and principal advisor at Honeycomb, explains, "Our differentiator has always been coaching. The entrepreneurs that invest in the coaching services raise exponentially more when they go to crowdfund." On IFW's Community Slack, entrepreneurs connect to bounce ideas around, share challenging moments, and cheer each other on. This combination of capital, coaching, and community is vital for entrepreneurs, as highlighted in the 2025 Wells Fargo Impact of Women-Owned Businesses* series. The research indicates that women-owned small businesses face particular challenges related to limited access to funding and a lack of access to experienced networks and mentors. The reports emphasize that capital alone is not enough—growth and sustainability also require coaching and community, especially for underestimated women entrepreneurs. Honeycomb also fosters a strong sense of community, recognizing the power of peer support. As Cook notes, "We've started to formalize some of that community already. We're thinking about how we take the best of both of these things and continue to build on them." This mirrors IFW's belief that while entrepreneurship can be lonely, community and peer connections offer essential encouragement, perspective, and resilience. IFW's brand partnerships create benefits for small businesses and established companies. It partners with brands like Visa and Caress that want to build stronger relationships with specific customer groups. Through these collaborations, entrepreneurs gain access to coaching and capital grants, while brands benefit from authentic connections with their target audiences and meaningful ways to elevate their brand. 'Thank you for the opportunity to express my gratitude for the Caress Grant and IFundWomen,' said Heather Davis, owner and pastry chef at Chic Sweets Bakery in Texas. 'If not for you, my business wouldn't be operating today.' By integrating IFW's coaching and community-building expertise with Honeycomb's funding platform, the acquisition aims to create a more supportive and effective ecosystem for young businesses and businesses seeking smaller financing than a traditional bank might lend. In today's turbulent economic climate, access to capital can be critical for small businesses to survive and thrive. With banks raising their lending criteria, it's becoming tougher for entrepreneurs to get approved. IFundWomen and Honeycomb Credit offer alternative ways to raise capital when traditional financing options may be harder to obtain. The financial climate is unpredictable and tightening—marked by rising interest rates and declining loan approval. Understanding rewards and investment crowdfunding options, like Honeycomb and IFW do, is more critical than ever. Honeycomb is a FINRA- and SEC-compliant Reg CF platform providing community investment crowdfunding, enabling businesses to raise capital from their customer base, local investors, and community members. Honeycomb's approach unlocks essential funds and cultivates a robust support network. "We didn't have to convince strangers," says Simon Huntley, CEO of Harvie and a Honeycomb borrower who raised over $480,000. "We invited our own community to invest. These are people who already believe in the independent food economy, so the alignment was there from day one. It felt less like fundraising and more like fueling the movement". Honeycomb offers mostly debt-based funding, with some revenue-sharing or equity structures available. IFW rounds out the funding landscape by offering grants and rewards-based crowdfunding. This funding continuum helps women entrepreneurs, who often face systemic barriers in accessing traditional capital. Women entrepreneurs have demonstrated a strong aptitude for crowdfunding, effectively mobilizing their communities through compelling narratives and building trust with potential backers. A majority of Honeycomb's fundraisers are women entrepreneurs. They represent nearly double (64%, according to the company) the share of all fundraisers compared to all Reg CF platforms (34%, according to Kingscrowd). As Cahn, founder and CEO of IFW, explains, "Our differentiator has always been coaching. The entrepreneurs that invest in our coaching services raise exponentially more when they go to crowdfund". The acquisition of IFW by Honeycomb Credit represents a decisive step towards creating a more accessible and effective funding ecosystem. Bringing together a diverse range of community-backed capital options for small businesses alongside robust coaching and a strong sense of community, these two companies demonstrate the significant impact of pairing financial resources with comprehensive support for entrepreneurs on a larger scale. This approach addresses the immediate need for funding and fosters small businesses' long-term growth and resilience, driving a fairer and more resilient economy.
Yahoo
04-03-2025
- Business
- Yahoo
House bill eliminating DEI funding in Missouri debated by Senate committee
State Rep. Ben Baker is a Republican from Neosho (Annelise Hanshaw/Missouri Independent). The Senate Committee on Government Efficiency heard a bill Monday that would ban state funding for diversity, equity and inclusion initiatives. Sponsored by state Rep. Ben Baker, a Republican from Neosho, the bill would also bar state departments from mandating a DEI program in contracts with private organizations. 'The bottom line is we as a state should not be allowing propaganda to creep into the workplace that pushes preferential and unfair treatment of our state workers,' Baker said. Last month, Gov. Mike Kehoe signed an executive order that forbids funding for DEI programs within state departments under the purview of the governor. Baker's bill prohibits the use of any state funding for DEI. Following the signing of Kehoe's executive order, a letter was sent to state employees explaining the executive order. In the letter, the governor clarified that the order would not affect several key organizations like the Minority-Owned and the Women-Owned Business programs, which provide opportunities for companies that are majority controlled by either women or minority individuals to bid on state contracts. Another carve out listed in the governor's letter was the Model Employer Initiative which seeks to increase the participation of disabled Missourians in the workforce. The letter also makes it clear that recognition of Black History Month, Asian/Pacific American Heritage Month, and Martin Luther King Jr. Day are not prohibited in the order. Baker said that his bill would have the same carveouts as the governor's bill and that this would be further clarified in the language of his bill. He argued during the hearing that no money should be allocated towards DEI programs. According to the bill's fiscal note, no state department would see increased or decreased revenue as a result of this bill. Baker said that there has been growing support for the removal of DEI, citing executive orders from both Kehoe and President Donald Trump. He also said the governor is in support of passing his bill. Baker also noted increased research opposed to DEI programs, citing a study conducted by the Aristotle Foundation for Public Policy, a think tank based in Canada. This claim was challenged by Sen. Patty Lewis, a Kansas City Democrat. 'It's not just the research,' Baker said. 'There's also anecdotal stories where I have met people in our state government agencies that have had major issues with what is being done with DEI.' Sharon Jones, a representative from the NAACP, spoke against the bill. Jones claimed that the language of the bill was too broad and could affect seemingly innocuous training sessions. 'This is a sledgehammer trying to aim at a very, very specific issue,' Jones said. Mary Byrne, a policy expert with The Heartland Institute and co-founder of the Missouri Coalition Against Common Core, spoke in favor of the bill. Byrne claimed that aspects of DEI programs have their roots in Marxism. 'The ideas of these matrixes are aligned to the tenants of critical race theory,' Byrne said, 'a theory promoting race conflict as a proxy for Marxist economic class conflict to foster social revolution.' This story originally appeared in the Columbia Missourian. It can be republished in print or online.
