Essay on Breaking Through Harnessing the Economic Potential of Women Entrepreneurs

2021-07-29 13:44:38
4 pages
980 words
University/College: 
University of California, Santa Barbara
Type of paper: 
Essay
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Breaking through is a perfect illustration of how women entrepreneurs of all races, ages, and ethnicities are increasingly having a significant impact on New York City economy. Over the years New York City has been credited to be the town that is filled with substantial male-dominated owned firms. However, with the inception of rapid technology, the ownership of businesses is taking another tide with the female confidently leading their counterparts. In the past, many of the women who were in business were discriminated based on their gender, ethnicity, and race. Therefore, the opportunity being offered in New York City where there is equal treatment for the women entrepreneurs is a huge step.

The report notes that a decade ago women-owned private firms were at 32%, today the percentage has increased to 40%. This is a tremendous growth over the last ten years. Moreover, with more female-owned businesses coming up means, there are more job opportunities that are available to the employees. New York is a city that is believed to be full of potential with endless possibilities open. Therefore, the ability of the women to offer employment to the people is highly commendable. The new generation provides the women a unique opportunity for them to be business owners and also employers this eliminates the stereotypical in the business world where the men are given the final say especially in situations that involve essential decision making.

Additionally, the report notes that women entrepreneurs are increasing their presence across the sector. The women empowerment demonstrated by the women is fantastic. Women own private firms are now dealing with construction, transportation, real estate, warehousing, and manufacturing. These were sectors that were predominantly held by men, decades ago if a woman held a senior leadership position in one of the well-known companies; she could not be trusted she could deliver the assignments 100%. However, tables are turning; with the significant number of female-led firms in New York many investors are now seeing the women as competent in their work. What strikes me the most in this new venture is the way many women in this technical field are helping each other to achieve success. Many of the female CEO is working in unison to ensure they have established their presence in the market.

Additionally, New York has been credited for its effort to ensure it creates a favourable environment where the women are given an opportunity to thrive. Notably, there have been several bills passed one being Mayor Bill de Blasio last year whose aim was to expand the women entrepreneurs with a specific interest placed on the women who come from undeserving communities. The report in detail explores the opportunities and diversity that are in New York which will further give the women a better chance in the business. Furthermore, studies have indicated New York is the fastest growing city where women are given the opportunity to explore their full potential without any limitation. The power that has been credited to the women in New York if not exercised in caution may result in some men leaving the business community. Therefore, there is need to ensure there is balance in power given to the women while also at the same time not forgetting to empower the men. Failure to which I foresee the men leaving the business world.

New Tech City

New York City may not be as well established as the Silicon Valley, but evidently, over the last decade, things are turning around for New York. Between 2007 and 2011 it is noted, New York City has had a significant rise in the number of technology companies in the city. Moreover, technology today is not about building the new application but instead application of technology. New ventures have been developed in better advertising, fashion, media, finance and medical care. Moreover, I believe with the dramatic increase in the number of people who are using the internet, and mobile devices have played a significant role in the technology establishment today. Moreover, New York City is strategically located is causing many companies to sort out the city technology as they can access most of the information with ease.

The article has further noted many tech jobs have been created through technology. The New York City is observed to be thriving rapidly economically as a result of the significant number of businesses that have embraced technology and adequately made part of their daily business ventures. The report indicates the number of jobs that have increased in the last five years was by approximately 28.7%. During the same period with the rise in the private sector jobs in the country, they have been on the forefront to embrace technology in their firms and ensure all the employees are competent and capable of handling the assignments issued. The level of support the technology is getting primarily from the private sector seems to be stable enough to act as sustainable technology sector which potentially reflects growth. The technology industry is not like the dot-com era in the 1990s, but rather a period where there is evidence of substantial tech ecosystem in the city.

Sometime back few investors were willing to go in the tech industry. However, with the increased number of start-up tech companies that are achieving significant growth, more investors are attracted to the technology world, and this has resulted in more city digital companies. Additionally, with many of the companies embracing technology and being used in many sectors. Most company management is finding it necessary to have digital marketing in their business. Therefore, this is a booming sector for the investors. In summary, the technology advancement in New York is booming, and it is incredible many companies are embracing technology into their businesses. Therefore, resulting to a profitable venture in the future. Moreover, the technology is noted to employ many people in the sector it is an essential part of the countrys economy.

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