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issue brief about women [[Women in entrepreneurship*SQUO*what's happening now (problems they're facing)*relevant policy (jobs act)*what's being done (tax credit in canada, crowd funding by women, what's the US doing)Entrepreneurship Lit Review]]

Over the past century, the United States has witnessed two concurrent large-scale social trends, both of which involving [[Women in Entrepreneurship|women in entrepreneurship]] that have had a significant impact on the country's economic growth: first. First, huge numbers of women have gone in large-scale numbers made their way into the official labor force. Around this time 50 years ago (February 1966), women's labor force participation rate was 39.6%, and secondbut in February 2016, 56.8% of women participated in the labor force [https://research.stlouisfed.org/fred2/series/LNS11300002]. This demonstrates substantial growth in women's entry to the country as a whole but particularly labor force. Second, women are achieving a higher degree of education than in years past. As labor market barriers to women have been lowered, the benefits of a college education have grown more for women than men, and females now outpace males in college enrollment. [http://www.pewresearch.org/fact-tank/2014/03/06/womens-college-enrollment-gains-leave-men-behind/] This has provided women with similar access to the same jobs as men. However, economists these trends have slowed from their early twenty-first century spikes; room for growth is smaller now than it was before. Economists predict that economic growth from these two trends is unlikely to be repeated to the same magnitude; room for growth is smaller than it was before and these trends have slowed from their spikes in the mid to late 1900's. With this, everyone is looking for the 21st Century modern-day economy-boosting equivalent to women entering 's entry to the labor force and higher educational attainment. Given the slowing rates of business creation, the long-term pessimismabout growth in the United States, and the rising share of women among educated workers, it seems clear that the future of American entrepreneurship and economic growth is in the hands of women. Encouraging women to enter into fields of entrepreneurship, particularly high-growth entrepreneurship, might be the United States' silver bullet economists seek.  This issue brief aims to examine the role of women in entrepreneurship today by examining their jobs (or lack thereof) in entrepreneurship related fields, and examine the effectiveness of current policy related to women in entrepreneurship.

===Our research=== We examined all leaders in companies from 1980-2016 who have the titles of either chariman, CEO, CFO, COO, CIO, CTO, board member, President, Vice President, Founder, and Director. Of company members with those titles, only 29.8% were women. Of those women leaders, 22% were CEOs, 14% chairwomen, 27% CFOs, 26% COOs, 31% CIOs, 12% CTOs, 25% board members, 20% presidents, 34% vice presidents, 23% founders, and 39% directors. (from tables, PercentWomenXCompany, where X is job title) Generally, the percentage of women in "leadership roles" in companies has trended upwards since 1980. (from companywomentot table) However, the number of women CEOs over the past two decades has not dramatically increased or decreased, aside from a dramatic upward spike in women CEOs during 2015. (from PercentWomenCEOCompanybyyear table) Grouped by state, Michigan has highest percentage of women in leadership in its companies, coming in at 37.5%. Texas has 26.6%. Wyoming has a whopping 0%. (from womenstates) These data show that of the women listed as "Company Executives", only a very small percentage have positions of power. However, this number has grown since 1980, which demonstrates a slow but positive growth of women in executive positions in general. ===Info from external sources=== Overall, women-owned businesses account for slightly less than 1/3 of all businesses in the United States, but at . At first glance the statistics portray a positive picture for the field's growth: the number of women-owned firms has grown 68 percent since 2007, compared to only 47 percent for all businesses. [http://www.theatlantic.com/business/archive/2015/04/women-are-owning-more-and-more-small-businesses/390642/]. However, these women owned businesses are typically only run by the woman herself; the Kauffman Foundation reports that among employer firms, women-owned businesses account for only 16% of the total, and their shares of revenue and employees are in the single digits. [http://www.kauffman.org/~/media/kauffman_org/research%20reports%20and%20covers/2014/11/sources_of_economic_hope_womens_entrepreneurship.pdf]

Numbers aside, Americans hold a negative view of The few women in entrepreneurial leadership rolesalso have to deal with negative societal perceptions of their jobs. According to data from a 2015 Pew Research Center survey, 43% of Americans believe that the U.S. is not prepared to hire women for top-tier executive positions. A relatively smaller, but still significant, number of Americans (23%) believe that women don’t have the time to hold an executive position, given their “family responsibilities”. [http://www.citylab.com/work/2015/09/where-can-female-entrepreneurs-find-the-most-success/406987/]

The American public's generally negative perception of women in entrepreneurship presents itself institutionally as well. Even though female founders perform equal to or better than their male counterparts when raising money online, only 10 percent of startups which raised Series A last year had female founders. Today's venture capital environment clocks some 305 active funds over $100 million, collectively putting $114 billion to work. 90% of these funds never see a female founder. [http://www.inc.com/lisa-calhoun/30-surprising-facts-about-female-founders.html] Texas claims the worst record of supporting women seeking venture capital. Last year, 42 Texas startups got Series A rounds. Not , yet not a single startup had female founders. StructurallyIn terms of venture capital structure, ninety-four percent of decision makers at venture capital funds are male, and 90% of today's venture capital funds never see a female founder. Among chief executives of S.&P. 1500 firms, for each woman, there are four men named John, Robert, William or James. [http://www.nytimes.com/2015/03/03/upshot/fewer-women-run-big-companies-than-men-named-john.html?_r=2] But venture capital firms with women partners are more than twice as likely to invest in companies with a woman on the executive team and three times as likely to invest in companies with women CEOs.

Though at first glance women-owned business growth seems striking, the numbers are deceptive in that their shares of revenue and employees are in single digits. Furthermore, women who do go into entrepreneurship face societal disapproval of their actions, with a plurality of Americans believing not only that the country is not prepared to hire women to executive positions, but also that women are incapable of holding these positions due to their family responsibilities placing a time constraint on them. Further, women get start-up capital for their companies 2-3x 3 times as often from women-led VC funds, but only 6% of decision makers at VC funds are women. It's no wonder women are vastly underrepresented in this field.

Almost half-of female founders (48 percent) cite a lack of available mentors or advisers as holding them back. A third say lack of capital is a constraint.[http://www.inc.com/lisa-calhoun/30-surprising-facts-about-female-founders.html]

The Obama administration recognized the importance of expanding the role that women-owned businesses play in the national economy. Some of his initiatives include increasing access to capital, incentivizing small business growth and hiring, encouraging women owned business competition for government contracts, and enhancing long term survival of women owned businesses. Two primary pieces of legislation have bolstered the limited growth that the United States has seen in the field of women entrepreneurs, The Small Business Jobs Act of 2010 and the Women’s Equity in Contracting Act. Both of these seek to help businesses headed up by women win more government contracts.  The president has worked on increasing small business access to capital through the Recovery Act and the Small Business Jobs Act. Through this act, the president has reformed SBA lending practices and built on existing infrastructure. SBA loans are 3-5x more likely to go to women and minorities than traditional business loans. Over 12,000 SBA Recovery loans have gone to women-owned small businesses, totaling more than $3 billion. [http://www.dol.gov/wb/media/Obama%20Administration's%20Support%20for%20Women%20Entrepreneurs%20%282%29.pdf] The president has also increased tax cuts with the aim of helping small businesses invest in their firms and create jobs. Specific to women, the SBA opened several new Women's Business Centers in 2009 and 2010, bringing their total to 114.  Jessica Milli, senior research associate at the Institute of Women’s Policy Research, said things like the Jobs Act and SBA's programs for women "really aim to put women-owned businesses...at a competitive advantage. (They) restrict competition, which has really helped to boost revenues and help more businesses get into the industry.” But such policies can’t, and haven't, solved all the challenges inherent to being a female entrepreneur. Even with targeted legislation, women business owners still face a significant wage gap and continually have smaller amounts of start-up capital than their male peers. ==Conclusion==As women's prevalence in the United States workforce has increased, the United States has experienced an economic boom. However, women's numbers are still small in entrepreneurial fields, and even more microscopic in leadership positions in those fields. Current policy fails because it doesn't properly address women's lack of access to capital and mentorship. Moving forward, the United States must seek strategies to incentivize more women to enter the entrepreneurial workforce. =The Research= *SQL info can also be found on researcher@128.42.44.181 in the Women folder. Called "women.sql". ==creating basic tables==DROP TABLE companyreal;CREATE TABLE companyreal( datefounded date, companyname varchar(100), prefix varchar(5), firstname varchar(100), lastname varchar(100), jobtitle varchar(100), companystate varchar(100), companycity varchar(100), industrygroup varchar(100), amtinvestedthous float, rounds int); \COPY companyreal FROM 'womencompanieslast-normal.txt' WITH DELIMITER AS E'\t' HEADER NULL AS '' CSV--129536 DROP TABLE fundreal;CREATE TABLE fundreal( datefounded date, fundname varchar(100), prefix varchar(5), firstname varchar(100), lastname varchar(100), jobtitle varchar(100), fundstate varchar(100), fundcity varchar(100), fundtargetsizemil float, firmname varchar(100)); \COPY fundreal FROM 'womenfundslast-normal.txt' WITH DELIMITER AS E'\t' HEADER NULL AS '' CSV--156005  ==adding variable where if person is woman, adds value of 1 to their name==DROP TABLE manwomanfund;CREATE TABLE manwomanfund ASSELECT prefix, lastname, datefounded, jobtitle, fundname, fundcity, fundstate,removeinitial(firstname) as firstname,CASE WHEN prefix='Ms' THEN 1::intWHEN prefix='Mr' THEN 0::intELSE Null::int END AS womanman FROM fundreal;--156005 DROP TABLE manwomancompany;CREATE TABLE manwomancompany ASSELECT prefix, lastname, datefounded, jobtitle, companyname, companycity, companystate, industrygroup,removeinitial(firstname) as firstname, amtinvestedthous, rounds,CASE WHEN prefix='Ms' THEN 1::intWHEN prefix='Mr' THEN 0::intELSE Null::int END AS womanman FROM companyreal;--129536 ==for people without a prefix, trying to assign gender variable to them based on list of common names== DROP TABLE manwomanfund2;CREATE TABLE manwomanfund2 ASSELECT datefounded, prefix, firstname, lastname, fundname, jobtitle, womanman AS origwomanman, mf,fundcity, fundstate,CASE WHEN womanman IS NULL AND mf IS NOT NULL THEN mf WHEN womanman IS NOT NULL THEN womanmanELSE NULL::int END AS womanman FROM manwomanfund LEFT JOIN commonnamesclean ON firstname = nameWHERE firstname IS NOT NULL;--152819 DROP TABLE manwomancompany2;CREATE TABLE manwomancompany2 ASSELECT datefounded, prefix, firstname, lastname, companyname, jobtitle, womanman AS origwomanman, mf,companycity, companystate, industrygroup, rounds, amtinvestedthous,CASE WHEN womanman IS NULL AND mf IS NOT NULL THEN mf WHEN womanman IS NOT NULL THEN womanmanELSE NULL::int END AS womanman FROM manwomancompany LEFT JOIN commonnamesclean ON lower(firstname) = lower(name)WHERE firstname IS NOT NULL;--123278 --%, state, city, round no ==me playing around, these tables not relevant== DROP TABLE fundWomenCEOs;CREATE TABLE fundwomentot ASSELECT EXTRACT(YEAR FROM datefounded), AVG(womanman) AS PercentWomen FROM manwomanfund2 GROUP BY EXTRACT(YEAR FROM datefounded);--37 DROP TABLE companyWomen;CREATE TABLE companywomentot ASSELECT EXTRACT(YEAR FROM datefounded), AVG(womanman) AS PercentWomen FROM manwomancompany2 GROUP BY EXTRACT(YEAR FROM datefounded);--36 DROP TABLE womencompanystate;CREATE TABLE womencompanystate ASSELECT companystate, AVG(womanman) AS WomenPerStateFROM manwomancompany2 GROUP BY companystate;--51 DROP TABLE womenfundstate;CREATE TABLE womencfundstate ASSELECT fundstate, AVG(womanman) AS WomenPerStateFROM manwomanfund2 GROUP BY fundstate;--51 DROP TABLE womencompanycity;CREATE TABLE womencompanycity ASSELECT companycity, AVG(womanman) AS WomenPerCityFROM manwomancompany2 GROUP BY companycity; ==assigning variable to titles== DROP TABLE titles01;CREATE TABLE titles01( title varchar(100), chairman int, CEO int, CFO int, COO int, CIO int, CTO int, boardmember int, president int, vicepresident int, founder int, director int);

The president has worked on increasing access to capital through the Recovery Act and the Small Business Jobs Act\COPY titles01 FROM 'impotitleslast. Through this act, the president has reformed SBA lending practices and built on existing infrastructure. SBA loans are 3-5x more likely to go to women and minorities than traditional business loans. [http://www.dol.gov/wb/media/Obama%20Administrationtxt' WITH DELIMITER AS E'\t' HEADER NULL AS ''s%20Support%20for%20Women%20Entrepreneurs%20%282%29.pdf] Over 12,000 SBA Recovery loans have gone to women-owned small businesses, totaling more than $3 billion. CSV

“Things like that really aim to put ==tables for percent of women-owned businesses and minority-owned businesses at in a competitive advantage,” says Jessica Milli, a senior research associate at the Institute of Women’s Policy Research given job title==DROP TABLE PercentWomenCompany;CREATE TABLE PercentWomenCompany ASSELECT sum(mf)/count(IWPRmf). “It restricts competition, which has really helped to boost revenues and help more businesses get into the industry.” But such policies can’t, and haven't, solved all the challenges inherent to being a female business owner. Women business owners still face a significant wage gap and continually have smaller amounts of startFROM ManWomanCompany3;--up capital than their male peers.29812

==SQUO facts==DROP TABLE PercentWomenCOOCompany;CREATE TABLE PercentWomenCOOCompany AS*Texas claims the worst record of supporting women seeking venture capital. Last year, 42 Texas startups got Series A rounds. Zero of them had female founders. [http:SELECT sum(mf)//www.inc.com/lisa-calhoun/30-surprising-facts-about-female-founders.html]count(mf) FROM ManWomanCompany3 WHERE coo = 1;*The cities in the United States where the combined economic clout of female founders is growing fastest are San Antonio; Portland, Oregon; Houston; Atlanta; and Riverside, California. [http://www.inc.com/lisa-calhoun/30-surprising-facts-about-female-founders.html]*Facts about female founders and raising capital26353

15. No matter which crowdfunding platform they choose, female founders perform equal to or better than their male counterparts when raising money onlineDROP TABLE PercentWomenCIOCompany;CREATE TABLE PercentWomenCIOCompany ASSELECT sum(mf)/count(mf) FROM ManWomanCompany3 WHERE cio = 1;--.31707

16. Offline, it's a different story. Only 10 percent of startups which raised Series A last year had female founders. Today's venture capital environment clocks some 305 active funds over $100 million. These funds collectively put $114 billion to work. Ninety percent of it never sees a female founderDROP TABLE PercentWomenCTOCompany;CREATE TABLE PercentWomenCTOCompany ASSELECT sum(mf)/count(mf) FROM ManWomanCompany3 WHERE cto = 1;--.12588

17. That said, venture capital firms with women partners are more than twice as likely to invest in companies with a woman on the executive teamDROP TABLE PercentWomenboardmemberCompany;CREATE TABLE PercentWomenboardmemberCompany ASSELECT sum(mf)/count(mf) FROM ManWomanCompany3 WHERE boardmember = 1;--.2545

18. Venture firms with a woman partner are more than three times as likely to invest in companies with women CEOsDROP TABLE PercentWomenPresidentCompany;CREATE TABLE PercentWomenPresidentCompany ASSELECT sum(mf)/count(mf) FROM ManWomanCompany3 WHERE president = 1;--.19646

19. NinetyDROP TABLE PercentWomenVPCompany;CREATE TABLE PercentWomenVPCompany ASSELECT sum(mf)/count(mf) FROM ManWomanCompany3 WHERE vicepresident = 1;--four percent of decision makers at venture capital funds are male.3468

20. Even so, there is more venture for women, and the women's entrepreneurial ecosystem is gaining traction, as angel investor Kelly Hoey points out in IncDROP TABLE PercentWomenfounderCompany;CREATE TABLE PercentWomenfounderCompany ASSELECT sum(mf)/count(mf) FROM ManWomanCompany3 WHERE founder = 1;--. 2394

29. Almost half-==table for finding percentage of female founders (48 percent) cite a lack of available mentors or advisers as holding them back.women in companies by state==

[http://www.nytimes.com/2015/03/03/upshot/fewer-women-run-big-companies-than-men-named-john.html?_r=2]*most companies understand that an all-male board looks bad, and so most of them appoint at least one woman, although only a minority bother to appoint more than one. Far fewer of these large firms — currently one in 25 — are run by a woman serving as C.E.O.*Among chief executives of S.&P. 1500 firms, for each woman, there are four men named John, Robert, William or James.=Example output data==

[http://fortune.com/2015/06/29/black Year CEOs Founders Start-ups Partners FundExecs ------------------------------------------------------------women-entrepreneurs/]*The number of businesses owned by African American women grew 322 1980 2% 2% 4% 1% 2% since 1997, making black females the fastest growing group of entrepreneurs in the U.S.*“We attribute the growth in women-owned firms to the lack of fair pay, fair promotion, and family-friendly policies found in corporate America,” she said 1981 . “Women of color, when you look at the statistics, are impacted more significantly by all of the negative factors that women face. It’s not surprising that they have chosen to invest in themselves.”

[http*Table on money raised?*Data on likelihood of follow-on round ==still to do://www.theatlantic.com/business/archive/2015/04/women-are-owning-more-and-more-==#this data still discounts a (small-businesses/390642/]) percentage of data (doctors who didn't have a common name)*The progress #have data organized, now we need to figure out how to extract it in meaningful terms for minority women has been particularly swift, with business ownership skyrocketing by 265 percent since 1997, the report says. And minorities now make up one in three female-owned businesses, up from only one in six less than two decades ago.