Women Entrepreneurs Emerging

Last week, I attended the "Women in Business" cruise off the coast (type www.kvinnoriforen.se into Google Translate for a translation) and was surrounded by 300 driven entrepreneurs from all over Sweden.  For 24 hours, we attended workshops, swapped ideas and business cards, and just had fun.  Swedes have the image of being very reserved, but this crowd was enthusiastic, outgoing, curious and eager to discuss things.  It reminded me of being in San Francisco.

Sweden's industrial production has fallen off the cliff so the country needs entrepreneurs to create the next wave of small business enterprises (SMEs).  Many existing SMEs are suppliers to Volvo, Saab and other manufacturers so they're going down with the auto industry.  Who will replace them?

Many of the women run service businesses -- Web design, marketing, consulting, healthcare, counseling, and other non-manufacturing businesses -- out of their homes.  Many supplement their husbands' lost or declining income.  Others are single.  Some are expanding into office complexes, but the question is whether they can scale up. A big opportunity is leveraging social networks, both online and offline, to find new customers, suppliers and partners.  This is beginning to happen as there are more women's networking groups and portals in Sweden.

Sweden is not unique.  Women worldwide have been running home ventures for centuries, but are now becoming a major force since the world is undergoing a major restructuring.  Exports are being replaced by domestic growth. The United Nations has advocated giving microloans to women as the fastest way to promote economic growth.  The current credit crunch makes it more important to find alternative financing mechanisms.  Lending circles and cellphones are some financing sources.  I think this area is ripe for innovation.  Perhaps women enterpreneurs will be the next financial giants.