Retail labels are full of signals designed to appeal to shoppers’ preferences and values: Organic, gluten-free, fair trade, or kosher. Soon, shoppers at Wal-Mart stores in the US will be able to look for a new one: A small, circular symbol indicating that the company behind the product is owned by women.
Entrepreneurship has hit a tipping point; it has become a real, fundamental economic force that’s reshaping the world.
Women-owned entities in the formal sector represent approximately 37% of enterprises globally. A recent survey by Global Entrepreneurship Monitor indicates that nearly 126 million women are either starting or running businesses and 98 million operating an established business (over three and a half years in operations). That is a whopping 224 million women impacting the global economy. Here are the graphical representations of the data on the burgeoning entrepreneurial spirit amongst women.
From fresh faces to billionaires, entrepreneurs make up 20% of 2014 Forbes Most Powerful Women list. One of Hong Kong’s recent best sellers is a book by Maseena Ziegler – “Ladies Who Launch in Hong Kong”. The book outlines the stories of 12 different female entrepreneurs in Hong Kong and sheds light on Hong Kong’s unique setting as a free market haven for aspiring women entrepreneurs.
While these super achievers are busy trailblazing in the world of business, a majority of them are falling far behind in planning for their retirement. After building and spending years running businesses they’re passionate about, many women entrepreneurs think they’ll never stop working. In addition to the financial rational for continuing to work, some of them believe their quality of life would diminish if they stopped doing the work they love. But even if they plan to never completely stop working, they should bear in mind that a backup plan is very important. And because every entrepreneur and every business is different, the right plan for each situation varies.
If you are an entrepreneur who has put off preparing for retirement and are afraid it may be too late, don’t panic. You can still make solid progress toward your financial goals if you make the effort now.
Gladstone Morgan’s MD, Dino Zavagno has an exceptional group of advisors who have decades of experience in providing financial assistance and tailored retirement solutions for Clients. Feel free to contact Mr. Zavagno at (852) 2868 5958 to schedule a meeting.
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