When I hear the quote “A rising tide lifts all the boats”, most often associated various economic policy, I think of when benefits provided to a few may lead to conditions that are beneficial to all. This may or may not be the reality of the situation (that is an argument best left to economists, politicians, and Facebook friends) but in the broad image of the phrase we can easily see the visual. The tide raising all boats…large and small. Black, White and Brown. This image is how I think of women supporting woman lead businesses. Helping one woman is usually more than helping just that one woman…but the vast network of women around her.
Take myself. I’m a woman. I’m a business owner….one of the 31% of women owned small businesses in the United States. I’m also a CERTIFIED FINANCIAL PLANNER™ …one of the 4.3% of female CFP Professionals according to the CFP® Board’s most recent numbers. When someone hires me, they are supporting a very rare boat but one that can make large impacts due to the scope of my work. The tide can raise my boat and I’ll raise the others around me as I choose vendors to work with, retailers to shop with and investment companies to partner with.
How does this apply to personal finance you ask? Well…let me share with you a few more fun facts:
- According to Catalyst Inc., while woman make up almost half of the total workforce at 46.8%, only 29.3% of Chief Executives are women. Those are the decision makers, ladies.
- Fortune Magazine reported that in 2021, the number of women running businesses on the Fortune 500 list hit an all-time record: 41. That’s out of 500, ladies!!
- Fortune went on to report for the same year, and for the first time ever, two Black women are running Fortune 500 companies. Out of 500. Really…that’s it?
In the world of investing, we mostly talk about publicly traded companies. The ones we can purchase stock in. When is the last time you took stock of who was at the helm of your favorite company?
See you next month,
Kimberly Enders CFP® CWS©
CERTIFIED FINANCIAL PLANNER™
Enders Wealth Management
37800 Van Dyke Ave, Suite 125
Sterling Heights MI 48312
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