New program aims to close gender gap in business

A new entrepreneurial program in Callaway County will focus on shrinking the gender gap in business, according to its director.

"There's still a gap in business ownership between the number of businesses owned by men compared to businesses owned by women," said Jamie Friedrichs, director of the Missouri Women's Business Center. "I was just reading a new study from the Kaufman Foundation talking about the gap; men are between two and three times more likely to own a business."

However, owning more businesses doesn't translate to better business acumen, Friedrichs said.

"The gap between men and women in business production is narrowing," she said. "Women are becoming more successful. It shows women are truly fit for running businesses."

Friedrichs said the new program, which opened earlier this month, is possible because of a grant.

"We are a new program with Central Missouri Community Action," she said. "They got involved doing economic development about six years ago creating a micro enterprise program seeing entrepreneurship as a path out of poverty."

Before signing on with the Missouri Women's Business Center, Friedrichs worked for another nonprofit in Columbia. She said the opportunity to join this new project was too good to pass up.

"I worked for over 13 years for a Columbia-based nonprofit called Woodhaven," she said. "While with them, I completed my master's degree and got interested in management. When I read about the Missouri Women's Business Center in the newspaper, I thought this was a great idea."

After being hired, Friedrichs said she went right to work establishing the foundation for the program.

"I started in May," she said. "The reaction over the summer has been great. We do have a couple of Callaway County clients, and we're looking for more. We started getting the Columbia office established because it's the main hub - Fulton is the second location. The chamber has been helpful in providing this space."

Opening up a branch in Fulton was a no-brainer for the organization, Friedrichs said.

"Moving into Callaway County was always on the radar," she said. "Knowing about the changes happening here, it's clear it was a really good fit."

The center helps women who hope to start a new business or improve an existing one, Friedrichs said.

"We have four strategies for helping women in business: counseling, education, networking and micro loans," she said. "Here, we can talk about all of that stuff in a judgment-free environment where you don't feel intimidated or like someone is going to make you feel stupid."

The center also offers business counseling and seminars. The counseling is tailored to each individual business woman, Friedrichs added.

"The counseling is based on what the business owner needs at the moment," she said. "We are working with people in every stage of the business. What's nice about our program is we are willing to meet the business owner where she is."

One of the biggest hurdles in starting a business is financing, Friedrichs said. The Women's Business Center will also be able to help potential business owners clear that hurdle.

"We provide assistance to get financing," she said. "If they can't get it, we can help them get a micro loan. Startup capital is a big need, too."

Friedrichs said she has three pieces of advice for any woman considering starting a business.

"Do it, plan it and get a team," she said. "If it's your dream to start a business, figure out a way to make it happen. The second point, which is way more important, is to plan it. The more you can think about it in advance, the more successful you're likely to be."

The third point, Friedrichs said, is where the Missouri Women's Business Center can be helpful.

"Don't try to go at it alone," she said. "One of the hardest things about business is it can feel really lonely. People want to be helpful, and reaching out to them and not trying to be solo is the advice we give."