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THE MASTER PLAN 

March 1999 

Lead Underwriters 3
 

Underwriters 8
 

Sumtnit '98 Partners 10
 

Executive Committee 11
 

Leadership Council 12
 

National Women's Business Council 14
 

Executive Summary 16
 

An Overview 22
 

Agenda 26
 

The Vision 30
 

The Quest 32
 

Financing Business Growth 33
 

Market Opportunities 34
 

Training 35
 

Leadership and Advocacy 36
 

State Economic Networks 37
 

The Path 38
 

Next Steps 41
 

Afterword 42
 

Special Thanks 43
 

2 
BankofAmerica

Bank of America 

Bank of America is committed to helping 

empower women fInancially so they can take 

control of their own futures and become more 

sophisticated about fInances and investments. 

The bank established a Women's Financial 

Initiative in 1997 to provide educational 

seminars to assist women with fmancial 

planning and money 

management; help women 

entrepreneurs gain greater 

access to investment and 

business banking products 

and services; and build 

links with organizations 

that promote the economic 

education and development 

of women. 

With women-owned 

businesses generating trillions of dollars in 

revenue and now employing one out of every 

four U.S. workers, the new Bank of America is 

forming national partnerships with womenowned businesses and supporting educational 

partnerships that will advance women-owned 

businesses throughout its coast-to-coast 

franchise. 

Lead Underwriters include:
 

Bank of America, Bell Atlantic, DaimlerChrysler, KPMG, and New York Life
 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

3 
Bell Atlantic 

Bell Atlantic has a strong commitment to 

diversity. That commitment extends to our 

supplier relationships. Supplier Diversity is also 

critical to Bell Atlantic's success in a competitive 

marketplace. It builds customer loyalty, 

stimulates economic growth, and taps into the 

innovation and entrepreneurship we need to 

compete for new growth in the market. By 

including 

Minority-, 

Women-, 

Vietnam Era 

Vets- & Disabledowned Business 

Enterprises 

(MWBEs) in our 

supplier chain, we accomplish two goals at once. 

We position our business for success - and we 

contribute to the economic prosperity of the 

communities we serve. 

Lead Underwriters include: 

lc8W&l;';t* 

Summlt 

1 •· 998

THE MASTER PLAN 

March 1999 

4 

Bank of America, Bell Atlantic, DaimlerChrysler, KPMG, and New York Life 
The DaimlerChrysler 

Corporation Fund 

The DaimlerChrysler Corporation Fund is 

supportive of the Women's Economic Summit's 

work and we are pleased to be a Lead 

Underwriter for the presentation of the Summit 

'98 Master Plan. 

DAIMLERCHRYSLER
 

Lead Underwriters include:
 

Bank of America, Bell Atlantic, DaimlerChrysler, KPMG, and New York Life
 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

5 
KPMG 

KPMG is pleased to be a presentation 

sponsor for the Women's Economic Summit 

Master Plan. Both the Summit and Plan are 

important tools in the effort to increase the 

visibility of the women's business community, 

and strengthen the size and revenue of womenowned businesses. 

For KPMG, 

this effort has a 

number of even 

more profound 

elements. 

Consider: 

o WomenlC8~&~;~*

Summlt 

1 •· 998

list of the Top 50 women-owned and operated 

businesses are KPMG clients. 

Our commitment to women's business issues 

is important to the success of our firm. In 

1998, we were named, for the fourth 

consecutive year, one of the "100 Best 

Companies for Working Mothers" by Working 

Mother magazine. KPMG enthusiastically 

endorses the leadership and professional 

development of its own female professionals, 

who now represent just under half of our 

current U.S. workforce of more than 24,000 

employees. 

In terms of leadership, the number of female 

partners within our firm has grown 69% since 

1994 - highest among the Big 5 professional owned businesses 

strengthen the economy by creating jobs, 

building industries and producing exciting new 

opportunities generating some $3 trillion in 

economic activity for the U.S. economy. 

o Women-owned businesses contribute to 

the vital currency of ideas and knowledge that 

power economic activity, investment, and new 

product and service development. 

o Women-owned businesses help alleviate 

the shortage in skilled professionals that now 

exists across a range of industry sectors, 

including professional services, by training and 

developing leaders at organizational levels. 

KPMG's client base includes numerous 

businesses that are owned and managed by 

women, across a broad spectrum of industries. 

In particular, we're proud of the fact that 22% 

(11 companies) on Working Woman magazine's 

Lead Underwriters include:
 

Bank of America, Bell Atlantic, DaimlerChrysler, KPMG, and New York Life
 

services firms. Today, women comprise 11 

percent of the partner ranks - also highest 

among professional services firms and greater 

than the 10.6% of female executives in the 

Fortune 500. 

Our firm actively contributes professional 

time and financial support to organizations such 

as WBENC, Catalyst, the Business Women's 

Network, Ms. Foundation for Women, the 

American Society of Women Accountants, the 

American Women's Society of CPAs, the 

International Women's Forum and the 

Executive Women's Alliance - organizations that 

are dedicated to the advancement of women's 

leadership in the professions and business. 

At KPMG we know that if we are to realize 

our goals and vision for the future, we must 

build on our continuing commitment to the 

women's business community. It's a reciprocal 

relationship that we value highly. 

THE MASTER PLAN 

March 1999 

6 
New York Life 

New York Life is proud to be a Lead 

Underwriter for the Women's Economic 

Summit Master Plan. Women have contributed 

a great deal to our success over the past 154 

years as agents, and as managers, officers, board 

members and employees in our offices across 

the country and around the world. 

We have a long history of 

women's advocacy: In 1894, New 

York Life was the first company to 

charge women the same premium 

rates as men. Susan B. Anthony 

was a New York Life client, and 

twice assigned her policy as 

collateral first to her sister to secure 

a loan, and later to the University of 

Rochester to ensure the rights of 

women to study there. 

New York Life and the Summit 

Master Plan are a natural fit. As New York Life 

agents, women run their own businesses, and 

can earn an excellent income while helping 

others and serving their communities. In 

management roles, women can inspire and lead 

others to greatness. And, as New York Life 

clients, women have available to them a wide 

variety of products and services needed to 

support a business, to build an estate, and to 

provide for their families. 

Sponsoring the Master Plan is another way 

New York Life demonstrates its core beliefs in 

strength, integrity and humanity - and its belief 

in women and the future of women's business. 

Lead Underwriters include: 

Bank of America, Bell Atlantic, DaimlerChrysler, KPMG, and New York Life 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

7 
Ameritech is honored to support the Summit 

'98 Master Plan. In these 

times of global markets and 

.Ameritech ~~

---------

fundamrntal change, h;, 

unperattve that we endorse 

women's determination to 

bring their innovation, spirit and value to the 

Dell Computer Corporation is proud to 

support women-owned businesses, and honored 

to be an underwriter for the Women's 

Economic Summit Master Plan. 

Dell is the world's leading 

l direct computer systems 

company. Our success is 

based on our ability to 

manage our diverse 

customer needs and our direct connections with 

customers, co-workers and our communities. 

For these reasons, it is important for Dell to 

promote diversity both inside and outside our 

company, and that requires actively supporting 

and seeking women-owned businesses as 

vendors, suppliers and subcontractors. 

Our company is already making great strides 

in this area, and we have increased our spending 

with women-owned businesses by 345% over 

WOMEN'S 

1 

ummlt ·~998 

marketplace. Ameritech is proud to participate 

in the creation of this strategy to help women 

succeed in business, enrich their communities, 

improve their lives and, at the same time, 

nourish our nation's economic vitality. We all 

share in the benefits of such a visionary 

endeavor. 

the last two years. 

While we are very proud of this growth, 

moving forward, we know there are numerous 

opportunities for us to expand our alliances and 

relationships. By partnering with the Women's 

Economic Summit, Dell will be in a better 

position to understand the issues and challenges 

facing women-owned businesses. We firmly 

believe that diversity is a business strength and 

an integral part of Dell's commitment to 

enhancing our customer's experiences. Through 

diversity and teamwork come new ideas, 

approaches and products. 

To learn more about vendor, supplier, and 

subcontracting opportunities at Dell, visit 

http://www.dell.com/dell/sbo.htm. or contact 

our Small Business Liaison Officer at: Dell 

Computer Corporation, One Dell Way, Round 

Rock, TX 78682. E-mail: SBLO@dell.com 

THE MASTER PLAN 

March 1999 

8 
GE Financial Assurance (GEFA), a dynamic business owners. Our research concluded that 

integrated family of investment and insurance this is a loyal market looking to develop 

companies, supports the Women's Economic relationships with a one-stop fInancial solutions 

Summit and its efforts to develop the women provider. GEFA plans to provide both the 

entrepreneurs market. GEFA's participation in education and 

organizations supporting women entrepreneurs comprehensive 

clearly indicates its desire to be a solutions fmancial solutions this GE Financial Assurance Companies 

provider of choice for fInancial services. market needs to ensure We br;ng good tMngs to life. 

Recognizing the increasing economic its fInancial health and future growth. As an 

contribution of women-owned businesses underwriter for the Master Plan of the 

GEFA plans to be a leader in helping these Women's Economic Summit we have the 

businesses grow. GEFA has been researching opportunity to better understand our customers 

this market for over a year and as a result has needs and develop the solutions to meet those 

committed funding to start up a new needs. 

distribution channel specifIcally for women 

The partnerships that build JCPenney's core 

businesses include not only our associates and 

our customers, but also our 

suppliers. We support the growth 

and development of women- JeDenneylll>
 owned businesses by facilitating r I 

access to our key decision-makers 

through our Supplier Diversity Development 

Program. JCPenney supports the endeavors of 

the Women's Economic Summit '98 and the 

release of its Master Plan Initiatives. 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

9 
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THE MASTER PLAN 

March 1999 

1 

Summit '98 Contributors 

Dynamac Corporation, JCPenney, Wal*Mart 

10 
Honorary Co-Chairs 

The Honorable AI Gore, Vice President of 

the United States 

The Honorable Newt Gingrich, Former 

Speaker ,US. House of Representatives 

Hosts 

Kay Koplovitz, Chair, National Women's 

Business Council 

Charles O. Heller, Director, Michael D. 

Dingman Center for Entrepreneurship 

F. Duane Ackerman, President and CEO,
 

BellSouth Corporation
 

The Honorable Aida Alvarez, Administrator,
 

C.S. Small Business Administration
 

Vanessa Bohrer, MassMutual-The Blue Chip
 

Company
 

Susan Williams DeFife, President and CEO,
 

\VomenCONNECT.com
 

Elizabeth T. Dingman, Patron
 

The Honorable Jennifer Dunn, US. House
 

of Representatives
 

David I. Fuente, Chairman and CEO,
 

Office Depot, Inc.
 

Charles K. Gifford, CEO, BankBoston
 

Gerald Greenwald, Chairman and CEO,
 

United Airlines, Inc.
 

Ambassador Swanee Hunt, Harvard
 

University
 

The Honorable Nancy Johnson, US. House
 

of Representatives
 

The Honorable John Kerry, U.S. Senate
 

The Honorable Barbara Mikulski, U.S.
 

Senate
 

The Honorable Eleanor Holmes Norton, 

U.S. House of Representatives 

Jolene Sykes, Publisher, Fortune Magazine 

Lorraine Thelan, Senior Partner/Director, 

Ketchum Public Relations 

The Honorable Nydia Velazquez, U.S. House 

of Representatives 

Joan Waricha and Jane Stine, Chairman and 

Co-Chairman, Parachute Properties 

Dr. Janet Yellen, Chair, Council of Economic 

Advisors 

Former NWBC Chairs 

MaryAnn Campbell, President, Money Magic 

Susan Engleiter, Former Administrator, U.S. 

Small Business Administration 

Pat Saiki, Former Administrator, U.S. Small 

Business Administration 

Lillian Vernon, CEO, Lillian Vernon 

Corporation 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

11 
Marsha Firestone, Ph.D. 

Executive Director 

Linda Darragh 

Association of Women's 

Business Centers 

Rona Feit 

Rona F. Feit & Associates 

Edie Fraser 

Business Women's Network 

Ambassador Linda Tarr-Whelan 

and Anne Mosie 

Center for Policy Alternatives 

Rudy Lamone and Rosel Halle 

Michael D. Dingman Center 

for Entrepreneurship 

Mary Flood 

National Association of Women 

Business Owners 

Sharon Hadary, Ph.D. 

National Foundation for Women 

Business Owners 

Elaine Demery 

State Economic Networks 

Lindsey Johnson Suddarth 

Women Incorporated 

Mary McGann 

womenCONNECT.com 

Hedy Ratner 

Women's Business 

Development Council 

Susan Bari 

Women's Business Enterprise 

National Council 

WOMEN'S 

ummlt ·~998 

THE MASTER PLAN


March 1999 

1 

12 
THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

13 
CHAIR 

Kay Koplovitz 

Founder 

USA Networks 

The Individuals 

Dr. Sandra 

Christenson 

President 

Heartland Paper 

Company 

Michelle Esswein 

President 

Unique Design 

Products 

Aurora Flores 

President and 

Creative Director 

Aurora 

Communications 

Antoinette Ford 

President and CEO 

Telspan International, 

Inc. 

THE MASTER PLAN 

March 1999 

14 
Millie HernandezBecker 

President and CEO 

Westchester Air, Inc. 

Joanna Lau 

President 

LAU Technologies 

Sharon Madison Polk 

CEO 

Madison Madison 

International, Inc. 

Organizations 

Carolyn Stradley 

Founder and President
 

C&S Paving
 

Agnes Noonan 

Designee
 

ASSOCIATION
 

OF WOMEN'S
 

BUSINESS
 

CENTERS
 

Gail Shaffer 

Executive Director 

BUSINESS AND 

PROFESSIONAL 

WOMEN/USA 

Elisa Sanchez 

Executive Director

MANA, A 

National Latina 

Organization 

Phyllis Hill Slater

Past President 

NATIONAL 

ASSOCIATION 

OF WOMEN 

BUSINESS 

OWNERS 

Dr. Jane Smith 

President and CEO

NATIONAL 

COUNCIL OF 

NEGRO WOMEN, 

INC. 

Lindsey Johnson 

Suddarth 

CEO 

WOMEN 

INCORPORATED 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

15 
•
 

iif
 Summlt 

1 9 9 8 

THE MASTER PL

"7\T 1 "0 economlC . power b' ase lS 

beyond the reach ofwomen in this 

country. We must challenge 

ourselves to think big." 

- Kay Koplovitz, Chair, National Women's 

Business Council; founder and former 

chairman, USA Networks 

T HE WOMEN'S ECONOMIC 

Summit '98 represents a milestone in 

the evolution of the women's economic 

development movement. For the first time in 

our history, the women's business community 

has emerged as a powerful constituency bearing 

a unified mission: to build a stronger, healthier 

economy for all Americans by accelerating the 

growth and stability of women's business 

enterprises. 

Summit '98's Master Plan presents a blueprint 

for this future, in which the vision and priorities 

of women 

business 

owners drive 

policies and 

programs that 

enhance their 

ability to access 

the capital, 

know-how, 

leadership and 

opportunities 

that all 

successful 

enterprises 

require. 

Summit 198: The Mission 

In 1998, women's business represented 

over 36% of all U.S. small firms, employed one 

out of every four American workers and 

generated more than $3 trillion in revenues. Still, 

women-owned firms account for only 18% of 

all small-business gross receipts, and they are 

dramatically underrepresented in the nation's 

two most lucrative markets: corporate 

purchasing and government contracting. The 

Summit '98 Master Plan seeks to change these 

realities by presenting a blueprint for action to 

bring women-owned businesses to the "next 

level," where their revenues match their 

numbers and they fulfill their promise as 

architects of the 21st century economy. 

The Vision 

More than any other arena today, business 

ownership allows women to thrive, both 

financially, and as leaders and decision makers. 

Entrepreneurial women have broken through 

the barriers and the glass ceilings to prove time 

and again that women's achievements have no 

boundaries. Indeed, business ownership is the 

one economic endeavor that can be a "great 

equalizer" for women as innovators, job creators 

and wealth builders. 

Propelled by the sheer force and vibrancy of 

enterprises built, owned and run by womenand a Congress and an Administration that 

value the contributions of women to the U.S. 

economy - we have arrived at a critical point in 

our history, where the collective voice of 

women in business is at last being heard. 

AN 

March 1999 

16 
The Women's Economic Summit '98 is the 

expression of women's unified economic voice. 

It represents an historic collaboration of diverse 

leaders in the women's business community. 

They are committed to creating an even brighter 

future for women, who hold the key to our 

nation's future prosperity. 

In 1996, the first Women's Economic Summit 

was held at Northwestern University's Kellogg 

Graduate School of Management. There, for 

the first time, government officials, corporate 

executives, policy makers, advocates and 

entrepreneurs sat down together to explore new 

avenues for achieving women's economic 

security. 

Summit '96 heralded the beginning of a 

national movement to support the growth and 

development of women-owned businesses, and 

raise their level of economic performance and 

leadership. Summit '96's resulting eight-point 

consensus agenda articulated the needs and 

priorities of entrepreneurial women, and 

recognized their integral role in the continued 

growth of the overall economy. 

Participants took home this agenda to their 

own communities to begin building a national, 

women-led entrepreneurship constituency. 

Aiding them was the emergence of the Internet, 

which opened up new lines of communication 

and set the stage for the next Summit forum. 

In early 1998, leaders in the women's business 

community returned to the table with a clear 

focus and sense of mission: to determine a 

comprehensive plan of action to accelerate the 

growth of the nation's 8.5 million womenowned businesses. The plan would center 

around Summit '96's four key areas of concern 

to women business owners: financing business 

growth, market opportunities, training, and 

leadership and advocacy. 

A Leadership Council was assembled to direct 

the four "core initiatives" and collaborate on a 

plan of action for each. The plans would be 

modeled on the classic business plan format, 

complete with concrete objectives and timelines. 

The Leadership Council actively sought wider 

public involvement in the process. Through its 

partner, womenCONNECT.com, the 

Leadership Council hosted several online public 

forums and message boards. Led by business 

and government experts, the forums covered 

topics such as contracting and procurement, 

financing and training programs, and coalition 

building. Thousands of people visited the 

website during 1998 and many provided insights 

and recommendations that were included in the 

draft action plans. 

, , Just as a business has to look at its customer base, 

an organization has to look at its customer base. If you 

want to get a different kind of customer, you might have to 

market differently. If I am a national organization, and I want 

Hispanic-owned businesses and African American-owned 

businesses to be a part of my organization, I might have 

different brochures for different businesses. In business, 

one size does not fit all." 

-Summit participant 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

17 
The in-person Summit forum drew more than 

550 diverse leaders in the women's business 

community to the Dingman Center. They 

included individual entrepreneurs, corporate 

executives, government officials and academics, 

as well as representatives from numerous 

women's business organizations. Participants 

spent two days collaborating in workshops and 

breakout sessions to develop and refine each 

initiative's action steps to ensure they are geared 

toward maximizing the innovative growth and 

economic stability of women-owned businesses. 

rcg~6~;~*

Summlt 

1 •· 998

THE MASTER PLAN 

March 1999 

The Quest 

Summit '98's four core initiatives 

are highlighted below; 

Financing Business 

Growth 

Capital sources, new loan 

programs and credit initiatives are 

increasingly available to women 

business owners as lenders 

recognize and target their products 

and services to this powerful 

market segment. Now, womenowned firms poised for expansion 

are ripe to exploit a still-new frontier for women 

entrepreneurs: equity capital. 

Summit '98 participants explored what new 

products can serve the nation's fastest growing 

service businesses; and how to get more 

investment capital to women entrepreneurs at all 

stages of their growth, from seed to lPO. 

Market Opportunities Initiative 

In order to move women-owned businesses 

to the "next level," women need to increase 

their access to the two most lucrative U.S. 

markets: corporate America and the federal 

government. Currently, women receive less than 

two percent of federal contracts and just three 

percent of corporate purchasing dollars, 

acocrding to recent studies by the National 

Women's Business Council and the National 

Foundation for Women Business Owners. 

18 
Summit '98 participants explored developing 

more vehicles that will drive women into these 

markets. They identified existing model 

programs and successful outreach initiatives that 

have increased women's participation in these 

markets; and envisioned an infrastructure that 

will enhance the competitiveness and viability of 

women as contractors and suppliers in the 

public and private sectors. 

Training 

Never has there been more of a demand for 

business education and training resources that 

assist women-owned businesses. Genderspecific training programs pioneered during the 

last ten years have successfully addressed the 

unique needs that women bring to their 

businesses. Perfecting those techniques and 

tools to benefit existing businesses will ensure 

the "quantum leap" in the size and revenues of 

women-owned firms - the mission of this 

initiative. 

Leadership and Advocacy 

As more women achieve success through 

business ownership, they are increasing their 

influence to steer economic policy at the local, 

state and national levels. A new generation of 

leaders in Congress and in legislatures across the 

country are joining them to call attention to 

women's enormous economic and social 

contributions. 

Summit '98 participants sought to develop 

this new corps of leaders - comprised of 

women business owners, business 

development advocates, senior women 

executives, grassroots advocates and elected 

and appointed decision makers - to promote a 

women-led entrepreneurship agenda and 

increase the visibility of women as integral to 

the future health of the U.S. economy. 

State Economic Networks 

To assist in implementing the Master Plan in 

all 50 states, Summit '98 also launched the first 

phase of a national State Economic Networks 

(SEN) initiative to link women business 

owners and advocates, women elected and 

appointed leaders, and corporate executives in 

each state. The SENs, which are now being 

formed in 15 states, signify the beginning of a 

collaborative network that will create an 

infrastructure to support, expand and replicate 

successful programs in communities across the 

U.S. 

The network will eventually involve all 50 

states, and be integral to the implementation 

of the Summit '98 Master Plan. 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

19 
The Path: a Blueprint for 

Action 

The Summit '98 Master Plan will be presented 

to the President, Congress, and the public 

during Women's History Month (March 1999). 

The Master Plan outlines "actions that make a 

difference." As they are implemented over the 

next 12-18 months, these actions will propel a 

"quantum leap" in the growth and revenues of 

women-owned firms. They encompass five 

categories: Circles of Influence, Legislation and 

Advocacy, the 

Internet, Research 

and Education. 

Circles of 

Influence 

. Convene 

roundtables 

involving CEOs of 

major corporations 

who will sign formal 

covenants to increase 

corporate purchases 

from women 

suppliers.

. Increase capital and 

credit available to 

women business 

owners, and enhance 

women's ability to 

identify and secure 

appropriate 

financing for their 

businesses by 

forming new 

partnerships among 

women entrepreneurs, technical assistance 

providers, local financial institutions and 

investors. 

Create a partnership to assist in equity 

education that leads to direct equity deal flow 

to women-owned growth businesses. 

Encourage women to invest in women's 

enterprises by launching a National Women's 

Loan Fund to provide much-needed capital 

and support entrepreneurial training for 

women. 

Legislation and Advocacy 

Establish a uniform application and reciprocal 

certification for women business owners 

among the nation's leading women certifiers 

that will be accepted by both corporations 

and government agencies. 

Petition Congress to include women as a 

class presumed to be "socially and 

economically disadvantaged" as it applies to 

specific federal business development and 

contracting programs. (The current statutory 

definition includes only designated minority 

groups.) 

Call on Congress to make permanent the 

federal funding for Women's Business 

Centers. 

Launch the first annual Entrepreneurship 

Action Day, during which media events will 

be held in conjunction with the simultaneous 

introduction of pro-women business 

legislation in Congress and state legislatures 

across the country. 

Develop an Elected Entrepreneurs Network 

of women state legislators who are or have 

been business owners, in order to amplify 

their voices in economic policy. 

, , The Internet right now is one of 

the most important economic 

vehicles that's out there. It's 

changing the way we do business. 

We need more training programs 

to deal with how to market and do 

business on the Internet." 

-Summit participant 

~~Jlt,~*

SUffiffilt 

1 •· 998

THE MASTER PLAN 

March 1999 

20 
The Internet 

Develop a centralized, interactive information 

center online for women business owners that 

provides links to specific training programs, 

including "learning and lending" initiatives that 

combine training with capital investments; and 

sources such as loan programs, angel investors 

and venture capital. 

Research 

Conduct a comprehensive study on the need 

for gender-specific training for women 

entrepreneurs. 

Conduct a state-by-state survey of investments 

made in women business owners, and the types 

of programs that best suit them. 

Education 

Compile a "best practices" guide that 

documents successful programs for assisting 

women entrepreneurs. 

Assist capital providers in better understanding 

the financing needs of women entrepreneurs; 

and promote expanding the use of existing 

"credit enhancers" such as capital access, linked 

deposit and government guarantee programs 

that mitigate the perceived risk in lending to 

women-owned businesses. 

Create an online educational program on 

equity for women entrepreneurs. 

Compile a handbook of best practices in 

public- and private-sector contracting and 

procurement for purchasing executives and 

government agency officials. The handbook 

will also highlight existing research conducted 

by the National Foundation for Women 

Business Owners and the National Women's 

Business Council. 

Conclusion 

The architects of America's future 

economy include the hundreds of 

individuals who worked together to 

make Summit '98 a reality. They will 

continue to build on their efforts by 

implementing the action steps of the 

Summit Master Plan in their own states 

and communities. In the process, they 

will forge new alliances, fortify and 

expand existing networks, and bring 

women's business ownership to the 

forefront of our nation's economic 

priorities. 

Presenting the Master Plan to a wider 

public via the Internet will allow many 

more individuals and organizations to 

embrace Summit '98's vision, and join 

the quest to create an even brighter 

economic future for all Americans. In 

this not-so-distant future, womenowned businesses are the force that 

ensures the strength of America's 21st 

century economy. 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

21 
•
 

wOMEN BUSINESS OWNERS 

are creating a new econotnic 

voice for the 21st century. 

Looking 

Back 

In 1996, 

more than 

500 women 

business 

owners, 

leaders of 

women's 

business 

organizations 

and officials 

from 

corporate 

America, 

government 

and academia 

gathered for 

an historic, 

first-ever 

national 

summit to 

examine 

women's 

economic 

security. 

Hosted at the 

J-L. Kellogg 

Graduate 

School of 

Management at Northwestern University, 

Summit '96 participants developed and 

endorsed eight initiatives that formed the basis 

for an agenda in which women's business 

ownership would become central to future U.S. 

economic policy. 

Traditional "women's" issues are now 

recognized as mainstream economic issues. 

The National Women's Business Council 

(Council) and its Executive Director understood 

that the issues raised by Summit '96 were so 

large and fundamental that only a wellorganized constituency could tackle them 

effectively. 

Women-owned businesses must close the 

"growth gap" between their expanding 

numbers and their lagging revenues. 

The Council's mandate of reflecting the views 

and needs of women business owners to 

Congress and the President, and of conducting 

research on women's business enterprise, left 

little room for organizing this constituency. A 

separate entity was necessary to mobilize the 

women's business community, and to raise 

needed funds, to effectively carry out the 

Summit agenda. 

Out of these considerations, a group of 

Summit '96 leaders conceived of a process for a 

second summit in 1998 that would introduce an 

innovative strategy for building the national 

network. 

, , How do we make sure we're a 

permanent fixture in city and state 

governments, and that we're not just at 

the whim of who's the elected official? It 

shouldn't be a matter of whether it's a 

Republican or Democratic issue. We 

must be a permanent part of the 

process. That's the challenge that 

women business owners are facing." 

-Summit participant 

THE MASTER PLAN 

March 1999 

22 
Looking Forward 

A new generation of women business 

owners is emerging as economic leaders 

and policymakers and taking responsibility 

for their own future. 

Seven leading women's business 

organizations, chosen on a competitive basis, 

would assume the responsibility for developing 

action plans in four areas of critical concern to 

women business owners: access to capital and 

credit, market opportunities, training, and 

leadership and advocacy - the key issues raised 

at Summit '96. These plans would be modeled 

on classic business-plan formats with specific, 

do-able action steps. Draft versions would be 

presented to the attendees at Summit '98 for 

ratification or amendment. An additional 

initiative workshop on designing State 

Economic Networks featured existing model 

networks in four states. 

Women business owners are exploiting 

the Internet to build a virtual community 

possessing enormous economic and 

political strength. 

To involve the public in this process, each of 

the core Initiative leaders would use the Internet 

to solicit their views and keep them informed 

about the progress of the Summit plans. In 

collaboration with womenConnect.com, a 

women-owned company geared to professional 

women, the Summit '98 leadership developed 

and managed its own dedicated website. 

During the eight months prec eding the inperson Summit event, the seven Initiative 

organizations each led three online public 

forums and used website bulletin boards to 

exhange ideas and information. Thousands of 

women and men clicked onto the site, adding 

new voices to the Summit process. Their input 

was then transcribed and distributed to Summit 

leaders. 

Summit '98's 

internal staff 

planned logistics 

and public 

relations, and 

conducted 

fundraising. 

Summit '98's cosponsor, the 

Dingman Center 

for 

Entrepreneurship 

at the University 

of Maryland, 

College Park, 

also collaborated 

on the Summit 

design and 

worked with the 

Summit '98 

Leadership 

Council to hone 

the Initiative 

business plans. 

The Center also 

hosted the 

Summit event at 

its facility in 

College Park. 

A diverse 

group of more 

than 550 

individuals 

convened at the 

Summit '98 inperson event. 

Attendees, who came by invitation, were chosen 

from lists of prominent leaders individually 

recommended by the Initiative organizations 

and the Summit Leadership Council. While 

many of those attending had participated in the 

first Summit, Summit '98 was distinguished by 

new alliances among women business owners, 

advocacy organizations, corporate and 

government officials, and academia. 

, , I am here to learn how to 

get to that million dollar mark a 

million at a time, not ten cents 

at time." 

-Summit participant 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

23 
Decentralizing Summit leadership to 

grassroots organizations, including new voices 

through the website and building real 

partnerships with 

Summit sponsors 

made the business 

plans presented at the 

Summit '98 event 

representative of a 

broader, more 

coherent vision. Over 

the two-day period, 

Summit attendees met 

in plenary and breakout sessions to address 

each Initiative's 

business plan and to synthesize the results. 

Following the Summit's closing session, which 

highlighted outcomes and potential actions, 

Initiative leaders and the Leadership Council set 

to the task of combining all the plans into a 

Master Plan. 

Women business owners are raising 

public awareness of their economic 

contributions and buying power, and are 

using that visibility to leverage more 

influence on economic policy. 

As designed, Summit '98 was an innovative 

process of consultation, agreement, and action 

that will continue long after the event. Summit 

'98 united groups that had previously resisted 

concerted action, and attracted new 

organizations to collaborate on a women-led 

entrepreneurship agenda. Summit '98 enlarged 

the mission of women's business advocacy 

organizations, and widened their support and 

visibility. It employed the latest technology to 

reach out to a wider public and build a national 

network of individuals committed to creating an 

environment in which women-owned businesses 

can realize innovative growth and bring greater 

stability to the overall U.S. economy - which is 

Summit '98's ultimate intent. 

r· ~1 ',' 

• I, 

..: ..•..

.,:!'"~

t-'· .

S

199 

ummit

• 8 

'" AW

THE MASTER PLAN 

March 1999 

24 
Women need to think 

bigger...create and 

build wealth...and 

support their own 

values in providing jobs, 

building communities 

and forging lasting 

institutions. 

Summit '98's Master 

Plan signifies the 

beginning of a new era in 

women's business 

development. With 

continued support from 

its corporate and 

government partners, the 

Master Plan can fulfill its 

mission: to achieve a 

healthier, stronger 

economy for all 

Americans. 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

25 
ummlt ii~ 1 998 

WEDNESDAY, OCTOBER 14, 

1998 

WELCOMING RECEPTION 

Hosted!?y BellSouth Corporation in honor of the National 

Women's Business Council (NWBC) 

Introduction of Host Committee
 

Co-Chairs
 

Antoinette Ford, President, Telspan
 

International Inc.; Lt. Governor
 

Kathleen Kennedy Townsend (D­


MD); Elizabeth Lisboa-Farrow,
 

President/CEO, Lisboa Associates;
 

Rep. Connie Morella (R-MD)
 

DINNER 

Hosted!?y the NWBC 

Speaker: Henrique de Campos Meirelles, President 

and COO, BankBoston; and Kay Koplovitz, Founder, 

USA Networks and Chair, NWBC 

THURSDAY, OCTOBER 15, 

1998 

BREAKFAST/OPENING PLENARY 

Summit '98 Vision and Mission 

Welcoming Remarks: Marsha Firestone, Ph.D., 

Executive Director 

Introduction of Srunmit Leadership Council 

Special Honored Guests: Eileen Cassidy, Canadian 

Trade Mission; and AnthonyJ. DeLuca, Director, Office 

of Small and Disadvantaged Business Utilization, 

U.S. Air Foree 

THE CORE INITIATIVES: PART I 

FINANCING BUSINESS GROWTH 

Led by Lindsey Johnson Suddarth, CEO, Women 

Incorporated; and Hedy Ratner, Director, Women's 

Business Development Center 

LEADERSHIP AND ADVOCACY 

Led by Ambassador Linda Tarr-Whelan, CEO, 

and Anne MosIe, Vice President for Women's Policy 

and Programs, Center for Policy Alternatives 

MARKET OPPORTUNITIES 

Led by Susan Bari, President, Women's Business 

Enterprise National Council 

TRAINING 

Led by Linda Darragh, Project Director, Women's 

Business Development Center 

THE MASTER PLAN 

March 1999 

26 

The panel on Capital Formation: Women 

Entrepreneurs and Financiers featured Patty 

Abramson, Managing Director, Women's Capital 

Growth Fund; Jackie Clegg, Vice-Chair, ImportExport Bank of the U.S.; Joanna Lau, President, 

LAU Technologies; and Joan Waricha, Co-Chair 

& CEO, Parachute Properties. 
LUNCHEON 

Introductions: Amy Millman, Executive Director,
 

NWBC
 

Special Honored Guests:
 

The Honorable Aida Alvarez, Administrator, U.S.
 

Small Business Administration; and Sharon Hadary,
 

Ph.D., Executive Director, National Foundation for
 

Women Business Owners
 

Presentation of the Independent Means Inc.
 

Youth Business Plan Competition
 

Awards
 

THE CORE INITIATIVES: 

PART II 

ISSUE, PRODUCT AND 

PROGRAM FOCUS GROUPS 

Corporate, Non-Profit and 

Congressional Focus Groups 

Administration and 

Congressional Focus Groups 

STATE ECONOMIC NETWORKS 

Led by Elaine Demery, SEN Director 

RECEPTION 

Hosted I?J Michael D. Dingman Centerfor Entrepreneurship 

Charles O. Heller, Director, Dingman Center for 

Entrepreneurship; Marsha Firestone, Ph.D., 

Executive Director, Summit '98; C. D. (Dan) Mote, 

Jr., President, University of Maryland, College Park; 

Nancy Wagner, National Segment Executive, 

Women-Owned Businesses, IBM 

1997-1998 National Youth Business 

Plan Competition Winners 

Meghan Ann Ellwanger, Somerset, WI 

Allison Beckwith, Redmond, WA 

Heisi Figueroa, Chelsea, MA 

Alicia Malik, Detroit, MI 

Jessica Ferretti, Glendale, CA 

Awards presented by Joline Godfrey, 

Independent Means; and Donna Chancellor, AT&T 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

27 
DINNER 

Hosted by the Dingman 

CfflkrftrEn~pnnfflnhp

A Seat at the Table 

and What to Do 

With It 

Honored Guests: 

Patricia Harrison, CoChair, Republican 

National Committee; 

Ambassador Swanee 

Hunt, Director, Women 

in Public Policy 

Program, Kennedy 

School of Government; 

Susan Williams 

DeFife, 

President/CEO, 

womenCONNECT.com 

FRIDAY, OCTOBER 16, 1998 

THE CORE INITIATIVES: PART III 

TOWN HALL MEETING 

Looking Ahead - An Interview
 

Moderated by: Sheila D. Brooks, President/CEO,
 

SRB Productions Inc.; and Kay Koplovitz, Founder,
 

USA Networks and Chair, NWBC
 

Planning the Future
 

Led by the Summit Leadership Council
 

Financing Business Growth Initiative
 

Hedy Ratner, Director, Women's Business
 

Development
 

Leadership and Advocacy Initiative
 

Vivian Shimoyama, Founder and President,
 

Breakthru Unlimited
 

WOMEN'S 

1 

ummlt ·~998 

THE MASTER PLAN 

March 1999 

28 
Market Opportunities Initiative 

Susan Bari, President, Women's Business Enterprise 

National Council 

Training Initiative 

Linda Darragh, Project Director, Women's 

Business Development Center 

NAWBO Synthesis 

Mary Flood, Treasurer, National Association of 

Women Business Owners 

State Economic Networks 

Elaine Demery, Director, State Economic 

Networks 

Next Steps 

Amy Millman, Executive Director, NWBC; and 

Marsha Firestone, Ph.D., Executive Director, 

Sununit '98 

Special Thanks to 

Sheila Brooks, 

President/CEO, SRB 

Productions Inc., for 

serving as moderator 

of Summit '98. 

" The Secretary of State was 

planning to have an Access to 

Capital Venture Conference. He 

agreed to let us be a co-sponsor. 

We were teamed up with all of 

the male-dominated business 

groups. Putting yourself in 

places where a male-dominated 

focus could be expanded by 

inclUding women - those are the strategic alliances you should always 

be looking for." 

-Pam McDonough, Chair, Illinois Women's Business Council 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

29 
Summit 

19 9 8 

THE MASTER PLAN 

March 1999 

30 

F AST FORWARD TO THE YEAR 2003. 

You've recently launched your business, 

having been inspired by the slew of 

magazine articles like FORTUNE's "Top 100 

Billion-Dollar Women-Led Companies" and 

Entrepreneur's "50 Most Influential Women 

CEO's in High Tech." Women have changed 

the face of the nation's decade-long booming 

economy. Now leading over half of all 

businesses in America, with 

revenues well over $3 trillion, 

they have ventured into the 

uncharted territory of building 

intelligent transportation 

systems and Internet product 

development where just 10 

years ago no women needed 

apply. 

Capital for these growth 

enterprises, while always 

plentiful, is now flowing freely 

to women's businesses 

through sources such as the 

Lenders Circle of Influence,

which includes the 10 largest 

banks with targeted lending 

programs to women-owned 

businesses. Women-focused 

funds such as the Women's 

Growth Capital Fund, Capital 

Across America, Viridian 

Capital, and ACENet's online 

angel network are also 

flourishing. 

"

You forget that it's only been in the last 

five years that banks have targeted 

women. And it's amazing the number of 

women who were running $10- and $15­

million companies with zero debt." 

-Summit participant 
Looking to raise capital for your own growing 

venture, you visit the higWy acclaimed Women's 

Technical Assistance Center (WTAC) on the 

Internet and within minutes download a list of 

several dozen potential investors that might be 

interested in your business. You locate the 

nearest Women's Venture Center and the date of 

their next "boot camp" for women seeking 

investors. Your business plan needs some 

polishing, so you find a women's business 

assistance center in your area - there are now 

over 100 centers across the country - that offers 

one-on-one coaching and direct connections to 

the types of lending sources that best meet your 

business needs. 

Ready to expand your business into new 

markets, you link to other sites that offer an 

individually tailored search of procurement 

opportunities for firms like yours. You find 

corporate and government agency contacts with 

whom you'll need to follow up. Do they require 

certification? No problem! You only have to fill 

out one application, and only one time, since 

everyone, even the federal government, now 

accepts the same certification. 

Tomorrow; you'll be tuning in to C-SPAN to 

watch coverage of the 5th annual 

Entrepreneurship Action Day, where elected 

officials in Congress and state legislatures across 

the country will simultaneously introduce 

legislation based on recommendations made at 

the 4th biannual Summit '02. Leading the effort 

are prominent women business owners who 

chair the 50 State Economic Networks (SENs), 

together with their public-sector counterparts, 

the members of the Women Elected 

Entrepreneurs Network. With other members of 

your SEN, you are planning an upcoming press 

conference, to announce the candidacies of 

several women business owners who are running 

in the 2004 Congressional and 

Gubernatorial races. 

How can this vision 

become a reality for the 

nation's 8.5 million 

women business 

owners? 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

31 
To INCREASE THE SIZE AND 

revenues of established women 

business owners to a level 

commensurate with their numbers: This is 

the mission of Summit '98. 

In America's new enterprise economy, 

women have surged into business in great 

numbers. Currently starting businesses at twice 

the rate of men, women own over 36 percent of 

all U.S. small 

firms, employ one 

out of every four 

American workers 

and generated 

more than $3 

trillion in revenues 

in 1998. 

Yet, as their 

numbers have 

grown, womenowned businesses 

still account for 

just 18 percent of 

all small business 

revenues. They 

have yet to fully 

tap into the nation's two most lucrative markets: 

corporate purchasing and federal contracting. 

The glass ceiling that has kept women out bf 

reach of upper management jobs has driven the 

surge of women-owned start-ups. But it has 

also created a ripple effect, in that women tend 

to start their enterprises with less capital, less 

experience and fewer support networks. 

To address these issues and take the brakes 

off women's enterprise, Summit '98 focused on 

four core initiatives, identified at Summit '96. 

, , Women who are looking for new opportunities 

bout industries like intelligent 

ystems. That's where women 

can really make their mark." 

- Summit participant 

need to know a

transportation s

.lf Summlt 

998 

THE MASTER PLAN
 

March 1999 

1 

32 
FINANCING BUSINESS 

GROWTH 

How can capital markets and investor 

networks be more responsive to women-owned 

businesses poised for expansion? 

Capital sources, new loan programs and credit 

initiatives are increasingly available to women 

business owners as lenders recognize and target 

their products and services to this powerful 

market segment. Now, women-owned firms 

poised for expansion are ripe to exploit a new 

frontier for women entrepreneurs: equity capital. 

Two of the most problematic areas for women 

are debt capital for service sector businesses; 

and the lack of equity investments to finance 

growth businesses. 

Summit '98's Financing Initiative sought to 

collaborate with women entrepreneurs, banking 

and financial experts and regulators, and 

investors across the country to examine and 

develop creative solutions and new capital 

models, especially for established women-owned 

firms. 

Financing Business Growth 

Initiative Advisory Council 

Initiative Leaders 

LINDSEY JOHNSON SUDDARTH, Co-CEO, 

Women Incorporated 

HEDY RATNER, Co-director, Women's Business 

Development Center, Chicago 

Leadership Team 

NATALIE BIRK, Managing Director, Financing 

Business Growth Initiative 

DEBORAH CANNON, NationsBank 

TERI CAVANAGH, BankBoston 

LAURA DROMERICK, Equity Coordinator, 

Financing Business Growth Initiative 

SARAH HUDANICH, IBM 

ANNE-MARIE CORNER, Women's Investment 

Network 

ALAN MANDEL, Debt Coordinator, Financing 

Business Growth Initiative 

ANDREA SILBERT, Center 

for Women's Enterprise 

KAREN YATES, 

NationsBank 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

33 
, , What is my organization's mission? Do I have a goal in mind of how inclusive of all 

women I am going to be? Am I working toward that goal? If I'm not, how can I go to 

Congress and say, 'I want you to be inclusive,' if my own numbers aren't reflecting that 

inclusiveness? How can I go to a corporation and say, 'How many women-owned 

businesses do you do business with?' if my own organization isn't inclusive?" 

MARKET OPPORTUNITIES 

In order to move women-owned businesses 

to the "next level," women need more access to 

private- and public-sector markets. Women 

receive less than two percent of federal 

contracts and just three percent of 

corporate purchasing dollars, according to 

recent studies conducted by the National 

Women's Business Council and the National 

Foundation for Women Business Owners . 

The Summit '98 Market Opportunities 

Initiative sought to create more vehicles to drive 

women into these markets. Enhancing women's 

access to new opportunities will allow womenowned firms to pros

their communities wi

U.S. economy. 

per and grow; providing 

th new jobs and fueling the 

Market Opportunities 

Initiative Advisory 

Council 

Initiative Leader 

SUSAN BARI, President, Women's Business 

Enterprise National Council 

Leadership Team 

BILLIE BRYANT, President, CESCO, Inc. 

CAROL DOUGAL, Co-director, Women's Business 

Development Center, Chicago 

ANTHONY DELUCA, Director, Office of Small and 

Disadvantaged Business Utilization, 

U.S. Air Force 

TIM FOREMAN, Small Business Procurement 

Expert, OSDBU, Department of Defense 

LUZ HOPEWELL, Director, OSDBU, Department of 

Transportation 

SARAH HUDANICH, Market Executive-Women 

Owned Businesses, IBM 

JANET KOCH, Assistant Deputy Director, Office of 

the Secretary of Defense; and WOB advocate, 

Department of Defense 

DONNA LEE, Vice President, Managed Network 

Solutions, BeliSouth Corporation 

SUSAN MAXWELL, Manager, Supplier Diversity 

Development, JC Penney Company 

ELLYN McKAY, President, McKay &Associates 

SUSAN McLAUGHLIN, President, Consumer 

Services, BeliSouth Telecommunications, Inc. 

PATTI McNEELY, Executive Director, Women's 

Business Council of Louisiana 

RAMON MOYA, Director, Diversified Supplier 

Relations, Bell Atlantic 

LINDA STEWARD, Executive Director, Ohio 

Women's Business Development Council 

KRISTA TILLMAN, President, Small Business 

Services, BeliSouth Telecommunications, Inc. 

THE MASTER PLAN 

March 1999 

34 
TRAINING 

Where can women entrepreneurs go to 

strengthen their skills and technical expertise to 

effectively manage growth? 

Never has there been more of a demand for 

business education and training resources that 

will help women-owned businesses move to the 

next level. Training programs pioneered during 

the last ten years that target new businesses 

have successfully addressed women's unique 

needs. Perfecting those techniques and tools to 

benefit existing businesses will ensure that 

women-owned firms make the "quantum leap" 

in size and revenues. 

The Summit '98 Training Initiative identified 

effective training strategies to assist existing 

women business owners in strengthening their 

businesses, increasing their revenues and 

creating more jobs. The Initiative will also 

develop public and private partnerships to 

increase the delivery of training programs to 

women business owners nationwide. 

l NIJIIP'f Ec. 

Training Initiative Advisory 

Council 

Initiative Leader 

LINDA DARRAGH, Project Director, Women's 

Business Development Center, Chicago; and 

Steering Committee Member, Association of 

Women's Business Centers 

Leadership Team 

ANDREA SILBERT, Center for Women & 

Enterprise, Inc., Boston 

MARY ANN McCLURE, Ohio Women's Business 

Resource Network 

MARY O'KEEFE, Southern Oregon Women's 

Access to Credit 

LORI SMITH, Women's Business Center, 

Oklahoma City 

GERI SWIFT, Women's Business Development 

Center, Philadelphia 

ELLEN GOLDEN, Women's Business Development 

Program, Coastal Enterprises, Inc. 

AGNES NOONAN, Women's Economic SelfSufficiency Team, Albuquerque 

KAREN GUSS, Association of Women's Business 

Centers 

NANCY SMITH, Chicago, Illinois 

SUSAN WOLF, Naperville, Illinois 

CANDIDA BRUSH, Assistant Professor, 

Management Policy Department, 

Boston University 

JOEL S. GROSS, Corporate 

Sourcing Group, Bell Atlantic 

BARBARA MISTICK, Director, 

National Education Center for 

Women in Business 

CHARLOTTE TAYLOR, President, 

Venture Concepts 

, , Can we train women to spend 

their own wealth and invest in 

women's businesses? 

-Summit participant 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

35 
LEADERSHIP AND 

ADVOCACY 

As more women achieve success through 

business ownership, they are increasing their 

influence to steer economic policy at the local, 

state and national levels. 

Calling attention to the enormous economic 

and social contributions of women business 

owners is an emerging generation of leaders in 

Congress and legislatures across the country. 

The Summit '98 Leadership and Advocacy 

Initiative sought to develop this new corps of 

leaders, comprised of women business owners, 

business development advocates, senior women 

executives, grassroots advocates, and elected and 

appointed policy decision makers to promote a 

women-led entrepreneurship agenda. Together, 

this group will increase the visibility of women's 

contributions to the future economy, and create 

and promote new alliances in which women will 

invest in women's enterprises, to the benefit of 

all Americans. 

Leadership and Advocacy 

Initiative Advisory Council 

Initiative Leaders 

LINDA TARR-WHELAN, Ambassador on the Status 

of Women, United Nations; and President and CEO, 

Center for Policy Alternatives 

ANNE MOSLE, Vice President for Women's Policy 

and Programs, Center for Policy Alternatives 

Leadership Team 

ALDONNA AMBLER, President and CEO, Ambler 

Growth Strategy Consultants; and NAWBO-New 

Jersey representative 

CHRISTINE BENUZZI, Executive Director, 

Association for Enterprise Opportunity 

BARBARA DAVIS BLUM, Chair of the Board, 

Center for Policy Alternatives 

MELISSA BRADLEY, Community Affairs Specialist, 

Office of Thrift Supervision, U.S. Treasury 

Department 

RUTH BURGOS-SASSCER, Chancellor, Houston 

Community College System 

DONNA CALLEJON, Senior Vice President for 

Corporate Development, Fannie Mae 

ELOUISE COBELL, Secretary, Board of Directors, 

Blackfeet National Bank 

PEPPER ENGLISH, Vice President, Congressional 

Relations, BeliSouth D.C., Inc. 

CONNIE EVANS, President, Chicago Self 

Employment Project 

SARA GOULD, Vice President for Programs, Ms. 

Foundation for Women 

SARAH HUDANICH, Market Executive-Women 

Owned Businesses, IBM 

MARY LANDRIEU, U.S. Senator (D-Louisiana) 

DAWN MASON, State Representative, Washington 

State Legislature 

LINDA MUIR, BeliSouth Corporation 

GRACE NAPOLITANO, U.S. Representative (DCalifornia) 

CECILIA ORTIZ, Director, Small Business 

Development, State of Colorado 

CHELLIE PINGREE, State Senator/Senate Majority 

Leader, State of Maine 

VIVIAN SHIMOYAMA, Chair of the Board, NAWBOLos Angeles 

WENDY WERKMEISTER, President, Wisconsin 

Women's Business Initiative Corporation 

,'All these resources exist and we're not 

getting the word out. We don't need to create 

new places to go. There has to be one common 

place that people can find out about them." 

-Summit participant 

iif SUffiffilt 

1 998 

THE MASTER PLAN 

March 1999 

36 
STATE ECONOMIC 

NETWORKS (SENs) 

How will Summit '98 participants raise the 

visibility of women business owners' economic 

contributions and assist in implementing 

Summit '98's Master Plan in all 50 states? 

Summit '98's SEN Initiative is launching a 

national communication and advocacy network 

of women business owners and advocates in 

each of the 50 states. SENs are being formed in 

an initial 15 states which have existing women's 

advocacy and business development model 

programs. The network will eventually involve 

all 50 states and be integral to the 

implementation of the Summit '98 Master Plan. 

SEN Initiative Advisory 

Council 

Alabama - LINDA GEISS, Women's Exchange; and 

LENORA WALKER PATE, Sirote & Permutt 

Colorado - ELAINE DEMERY, Colorado Women's 

Business Office; and LEA FAULKNER, "On the Record 

with Lea" 

Florida - SANDY HERNANDEZ-ADAMS, Strategic 

Micro Partners; and KATHLEEN ALMULLA, Prudential 

Securities 

Georgia - JANICE BURDA, Consulta Solutions; and 

NANCY PARROTT, State of Georgia 

Illinois - PAM MCDONOUGH, McDonough Consulting; 

and HAZEL KING, H.A. King Associates, Inc. 

Maryland - SUZANNE POGELL, Womanship; and 

AMANDA CROOKS ZINN, Women Entrepreneurs of 

Baltimore 

Michigan - MICHELLE RICHARDS, Organization 

Center for Empowerment and Economic Development; 

and SHARON MADISON POLK, Madison Madison 

Intemational 

Missouri - MICHELLE ESSWEIN, Unique Design 

Products; and DIXIE JUNK, JunkArchitects, PC 

New Hampshire - JENNIFER STARR, Prudential 

Securities; and CONNIE RAKOWSKI, Orr & Reno 

New Mexico - JUDITH FRAMAN, Framan and Smith 

Communications; and KATHY JAHNER, consultant and 

BPW/USA 

New York - ELAINE WINGATE CONWAY and LYNN 

ROLLINS, New York State Division of Women; and 

SHARON EMEK, The Emek Group 

Texas - DORIS THOMAS, Global Travel of Dallas; 

BILLIE BRYANT, CESCO, Inc.; and PATRICIA PLiEGO 

STOUT, The Alamo Travel Agency 

Utah - RAMONA RUDERT, Women's Business Center; 

and KAREN McARTHUR, past president, NAWBQ-Utah 

Washington - CHRISTY MARTIN, People 

Management; and JOAN FELDMAN, Computer 

Forensics 

Wisconsin - WENDY WERKMEISTER and JULANN 

JATCZAK, Wisconsin Women's Business Initiative 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

37 

" Women who work in the media get these issues right 

away. They have the same kinds of issues and problems. 

And when it's pitched as them being one of us versus 

being one of them, they tend to work their very hardest to 

make sure lots of women know about it." 

-Summit participant 
Actions That Make A Difference 

OR WOMEN BUSINESS OWNERS 

to make the "quantum leap" in growth 

and revenues, members of the Summit 

'98 Leadership Council propose a series of 

action steps that will be implemented over the 

next 12-18 months in each of five categories: 

Circles of Influence, Legislation and Advocacy, 

the Internet, Research and Education. 

Circles of 

Influence 

Market Opportunities 

Initiative leaders will 

convene roundtables of 

CEOs of major 

corporations who will 

sign formal covenants 

to increase corporate 

purchases from women 

suppliers. 

To expand the 

availability of capital 

and credit to women 

entrepreneurs, leaders of

the Financing and 

Training Initiatives are 

collaborating to develop 

partnerships among 

women entrepreneurs, 

technical assistance 

providers, local financial 

institutions, investors, 

and public and private 

providers of credit 

enhancers to increase iif Summlt 

998 

THE MASTER PLAN 

March 1999 

1 

38 

women's ability to identify and secure 

appropriate financing for their businesses. 

Financing Initiative Leaders will lay the 

groundwork to launch a National Women's 

Loan Fund (WLF) to encourage women to 

invest in women's enterprises. Through a 

national campaign, the WLF will raise funds 

to make loans and support entrepreneurial 

training for women seeking to start small 

businesses. 

Legislation and Advocacy 

Market Opportunities Initiative leaders will: 

- Establish a uniform application and 

reciprocal certification for women business 

owners among the nation's leading women 

certifiers (WBENC and NWBOC) that will 

be accepted by both corporations and 

government agencies; and 

- Petition Congress to include women as a 

class presumed to be "socially and 

economically disadvantaged" as it applies to 

specific federal business development and 

contracting programs. (fhe current 

statutory definition includes only designated 

minority groups.) 

Leaders of the Financing and Training 

Initiatives will call on members of Congress 

to advance legislation to make permanent the 

federal funding for Women's Business 

Centers. 

Leaders of the Financing and Leadership and 

Advocacy Initiatives will work with the SENs 

to expand credit enhancement programs and 

assist in the testing and implementation of 

new models. 

" I hear a lot of venture 

capitalists say, 'I can't find 

good female talent. I can't find 

women CFOs, I can't find 

women CEOs.' We need to set 

up a talent bank as a place 

people can go to find talented 

women in management." 

- Kathy Keely 
Leadership and Advocacy Initiative leaders 

will: 

- Coordinate and launch in mid-1999 the 

first annual Entrepreneurship Action Day, 

with press conferences and other media 

events to highlight the role of women 

business owners in our state and national 

economies; and 

- Develop an Elected Entrepreneurs 

Network of women state legislators who are 

or have been business owners to promote a 

proactive policy agenda for women business 

owners. 

The Internet 

Leaders of the Training, Market 

Opportunities and Financing Initiatives will 

develop a web site, to serve as a centralized, 

interactive information center for women 

business owners. The online center will: 

- Allow the individual business owner to 

"self-select" programs that suit her specific 

needs; 

- Provide links to those training programs; 

- Identify "learning and lending" programs 

that attach training to capital needs; 

- Identify loan programs, investors and 

other sources of capital and credit for 

women entrepreneurs; and 

- Provide a database of certified women's 

business enterprises. 

Research 

Financing Initiative leaders will work with the 

Federal Reserve to begin a study on lending to 

women-owned businesses and seek funding 

for longer-term research on access to capital. 

Training Initiative leaders will issue a 

comprehensive study on the need for genderspecific training programs for women 

entrepreneurs. 

Leaders of the Training and Financing 

Initiatives will assist in a study that analyzes 

the impact of training on access to finance 

for women 

business owners. 

Leadership and 

Advocacy Initiative 

leaders will begin 

studies to examine: 

- How states are 

investing in 

women's 

business 

enterprises; and 

- State model 

programs for 

assistlng women 

entrepreneurs. 

Education 

Financing and 

Training Initiative 

leaders will assist 

capital providers 

to better 

understand the 

needs of women 

entrepreneurs; 

and promote 

expanding the use of existing "credit 

enhancers" such as capital access, linked 

deposit and government guarantee programs 

that mitigate the perceived risk in lending to 

women-owned businesses. 

As part of the online, interactive resource 

center, Financing Initiative leaders will create 

an educational program on equity for women 

entrepreneurs. 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

39 

The Path focuses 

on five key areas: 

Circles of 

Influence 

Legislation and 

Advocacy 

The Internet 

Research 

Education 
, 'women are slowly 

beginning to realize that they 

have got to take ownership 

of the money they have 

and take some risk." 

-Summit participant 

NAWBO SYNTHESIS TEAM 

To connect the issues, research, and action 

plans of Summit '98's four core initiatives, and 

disseminate the Master Plan to women business 

owners nationwide, the National Association of 

Women Business Owners is "synthesizing" the 

Summit action steps to achieve two primary 

objectives: 

Innovative Growth-Promote the growth of 

women-owned businesses through joint 

ventures, strategic alliances, teaming and other 

strategies that leverage resources and 

maximize capabilities; and 

Economic Stability-Optimize the current 

economic gains of women-owned businesses 

to minimize the impact on their enterprises of 

any future economic downturn in the U.S. 

economy. 

NAWBO Synthesis 

Team Members 

Leaders 

MARY C. FLOOD 

ARLENE KAPLAN 

CATHERINE GORRELL 

Coordinators 

CHARLOTTE TAYLOR 

JANET HARRIS-LANGE 

ALDONNA AMBLER 

WHITNEY JOHNS 

'WOMLN'~

fmNOMlC * 

Summit 

998 

THE MASTER PLAN 

March 1999 

1 

40 
2000 and Beyond 

HE SUMMIT '98 MASTER PLAN IS 

only the first step in a continuing process that will 

be revisited at successive, biannual Summit events. 

The National Women's Business Council and Summit 

'98's Leadership Council are committed to reviewing the 

progress and assessing new challenges as they implement 

the Master Plan's action steps throughout 1999 and 2000. 

The Leadership Council will continue to meet to shepherd 

the Summit process, seek funding for proposed research, 

strengthen leadership and advocacy networks, and lay 

down plans to organize Summit 2000. 

Summit '98 demonstrated that corporations, financial 

institutions, and government agencies understand the 

economic value of women-owned businesses in expanding 

their markets, their sources of services and products, and 

their contributions to the communities they serve. Summit 

2000 will continue to broaden that understanding by 

involving even greater numbers of women business owners, 

engaging the attention and energy of the next generation of 

leaders and decision makers, and acting on a women-led 

economic agenda for the 21st century. 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

41 
T HE WOMEN'S ECONOMIC SUMMIT '98 

represents a milestone in the evolution of the women's 

economic development movement. For the fIrst time in our 

history, the women's business community has emerged as a powerful 

constituency bearing a unifIed mission: to build a stronger, healthier 

economy for all Americans by accelerating the growth 

and stability of women's business enterprises. 

In the near future, women will own the majority of 

all U.S. small businesses. These businesses hold the 

promise of America's enterprise economy as 

innovators, job creators and wealth builders. 

Summit '98's Master Plan presents a blueprint for 

this future, in which the vision and priorities of women 

business owners drive policies and programs that 

enhance their ability to access the capital, know-hO\v, 

leadership and opportunities that all successful 

enterprises require. 

The architects of this future include the hundreds of 

individuals who worked together to make Summit '98 a 

reality. They will continue to build on their efforts by 

implementing the action steps of the Summit Master 

Plan in their own states and communities. In the 

process, they will forge new alliances, fortify and 

expand existing networks, and bring women's business 

ownership to the forefront of our nation's economic 

priorities. 

Presenting the Master Plan to a wider public via the 

Internet will allow many more individuals to embrace 

Summit '98's vision, and join the quest to create an 

even brighter economic future for all Americans. In this 

not-so-distant future, women-owned businesses are a 

force that knows no boundaries, heeds no obstacle. 

With Summit '98, the journey has already begun. We hope to meet 

you along the path. 

Marsha Firestone, Ph.D. Amy Millman 

Executive Director, Summit '98 Executive Director, National 

Women's Business Council 

5wnmit 

1 9 9 8 

THE MASTER PLAN 

March 1999 

42 
Printing of the Summit Master Plan was 

generously underwritten by JCPenney Company. 

Summit '98 Master Plan 

Written & Edited by Jeanie M. Barnett 

Layout by Barry Spencer 

Special thanks also to Brian Bartholomay, Daren Firestone, Michelle Garcia, Juliette Tracey Goldman,
 

Rosel Halle, Bonny Lystra, Gilda Presley, Sandy Roy, Jamie Soslowitz, Linda Strappazon, Angie Summons,
 

Amanda Wiss, and Diana Wiss for their help throughout the Summit planning process and in-person forum.
 

THE WOMEN'S ECONOMIC SUMMIT '98 

The Master Plan 

43