Fidelity Bank to Salute Women Business Owners During National Business Women’s Week
NEW ORLEANS — As the number of women-owned businesses continues to increase in New Orleans, and throughout the country, Fidelity Bank and the Business and Professional Women’s Foundation (BPWF) announced in a press release that the annual National Business Women’s Week (NBWW) will be held from October 14 through 18.
Since 1928, BPWF has designated the third week in October as National Business Women’s Week — a time to honor the contributions and achievements of women in America’s workforce. The first NBWW began with a nationally-broadcast speech by Lean Madesin Phillips, the president of the National Federation of Business and Professional Women’s Clubs (NFBPWC). President Herbert Hoover was the first American president to issue a letter recognizing NBWW and the contributions and achievements of working women.
National Business Women’s Week provides an opportunity to recognize and highlight the progress women have made as professionals, business owners and entrepreneurs.
According to the latest State of Women-Owned Business Report commissioned by American Express, the number of women-owned businesses in the United States increased by 3,100% between 1972 and 2018, rising from 402,000 (4.6% of all firms) in 1972 to 12.3 million (40% of all firms) in 2018. Employment surged from 230,000 to 9.2 million, growing 40-fold. Revenues rose from $8.1 billion (representing 0.3% of all firms’ revenue) in 1972 to $1.8 trillion (4.3% of total firms’ revenue) in 2018.
The number of women-owned businesses doubled in Louisiana from 1997 to 2017 with more than 144,600 businesses in the Bayou State owned by females, according to the 2017 State of Women-Owned Business Report. In New Orleans, 3.2% of businesses were women-owned according to the same report. According to the National Zippia Career Experts 2019 national rankings, Louisiana is the 31st best state in the country for women-owned businesses.
“In less than 50 years, women-owned businesses have gone up in Louisiana and the U.S.” said Tammy O’Shea, senior vice president and chief marketing officer of Fidelity Bank. “Fidelity Bank’s mission is to be here for good and we do that though supporting women in business including our P.O.W.E.R. programs that’s specifically designed to grow and nurture women-owned businesses.”
Fidelity’s P.O.W.E.R. ® (Potential of Women Entrepreneurs Realized) program, launched in New Orleans in 2017, is designed to help spur revenue growth of its women-owned business customers. Fidelity is one of few banks in the country offering a business program tailored specifically for women business owners. In just two years P.O.W.E.R. New Orleans has grown to nearly 700 local businesswomen.
“Women business owners are changing the landscape of communities throughout New Orleans, and we’re proud to support them in reaching their own potential by providing a platform that provides educational tools and offers opportunities to connect and network with other business-minded women,” said Liz Broekman, AVP director of P.O.W.E.R. at Fidelity Bank. “Fidelity Bank’s P.O.W.E.R. program is combined with customized products and services, at the same time giving these customers access to all of the technology, choice and convenience that Fidelity provides.”