June 2024

The Power of the Entreprenurial Spirit

By Inessa Ruffman, JonesTrading

2024 STA WIF Chair

Whether you're the Founder and CEO of a Fortune 500 company or you had a lemonade stand as a child, the entreprenurial spirit is a key component for many women in leadership positions. The term entrepreneur comes from the French entreprendre, meaning "undertake." This certainly speaks to women throughout the financial industry and those in leadership positions - the confidence to trust your ability and undertake a challenge or new opportunity is an excellent way to grow as a professional, particularly in male-dominated industries.

A recent report shows that the number of women-owned businesses continues to rise: 39% of women business owners have established new franchise locations in 2024, and women are now 17% more likely to own a franchise compared to previous years, a field that was primarily dominated by male business owners. That's the beauty of the entreprenurial spirit - it can manifest itself in different ways. For some, it could mean starting a business from scratch or owning a franchise, while for others, it could be presenting a unique idea to your team and leading the effort to see it come to life.

Today, some of the largest companies in the world listed on major exchanges are led by women, including household names like Hershey, UPS, and more. And while the number of women at the helm of Fortune 500 companies remains at just 10.4%, we're constantly seeing efforts to see those numbers grow and allow women to embrace their own entreprenurial spirit. If you have an idea, see how you can bring it to life and take action - you never know what it might lead to, and what you might learn in the process. Sometimes a lemonade stand can go a long way.

Save the Date!

9th Annual STA Women in Finance Symposium

Luncheon/Presentation/Networking

Wednesday, Sept. 18

11:30 a.m. - 1:00 p.m.

Location and Speakers TBD

Sponsored by

STA Women in Finance's "Changing the Face of Financial Services" interview series is back! We're thrilled to continue these profiles and share insights and accomplishments from women in our industry.

Check out the first installment of 2024, featuring Lesley Kelly, Head Trader and Partner at Venrock Healthcare Capital Partners. Lesley shared her inspiring career path as a U.S. Army veteran, why she felt inspired to enter the financial industry, and much more.

Articles of Interest

Women Are Poised to Reshape Financial Markets —As Investors and Financial Decision-Makers

World Economic Forum

It’s time we reflect on the role women play in shaping financial markets — both as investors and as employees in the institutions that keep those markets running. On both fronts, there is ample opportunity to deliver both societal progress and economic empowerment. Worryingly, women do not create wealth at the same rates as men. According to the OECD, women receive 26% less income from the pension system than men. Critically important for many women around the world is improving their inclusion in financial markets as investors and closing this gender investing gap. Read here

Supporting Women in the Workplace Is ‘Imperative’: KPMG CEO

Yahoo! Finance

More executive women are optimistic about their future paths to the C-suite, according to KPMG. KPMG U.S. CEO Paul Knopp joins Wealth! to discuss the company's Women's Leadership Summit and the importance of elevating women in the workplace. Read here



Women and Banking: 50 Years of Progress

Bankrate

The many areas in which women have made strides during the past five decades include personal finance and banking. Today, more than half of all women are in the workforce, and women can’t legally be denied credit based on gender. However, in 1970, only 43 percent of women were in the labor force, and women could be turned away by lenders if they didn’t have a male co-signer. Read here

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