A Potpourri
of Data
The gender wage gap, funding, board participation, and more Written By EDDY GOLDBERG
“…We have more women in C-level upper-management positions than ever before, and when those women leave Corporate America, they have more confidence to run their own business.” —Jania Bailey, CEO of FranNet (WSJ, 12/1/19)
Share of Women-Led Brands by Sector Sector
% Women-Led
Health & Fitness
16.7%
Child-Related
12.2%
QSR
11.9%
Beauty-Related
7.2%
CLOSING THE GENDER PAY GAP… IN 257 YEARS?! In December, the World Economic Forum’s “Global Gender Gap Report 2020” predicted that the gender wage gap won’t even out for another 257 years because of a lack of progress in closing the economic participation and opportunity gap. The report studied 153 countries, ranking each on four criteria: economic participation and opportunity, educational attainment, health and survival, and political empowerment. The report noted that progress in the U.S. has been slow, that American women still struggle to enter the very top business positions in the workplace, and that only 21.7 percent of corporate managing board members are women.
Sit-Down Restaurants
6.9%
Maintenance Services
4.1%
Automotive
3.6%
Education-Related
3.6%
Retail Stores
3.6%
Business-Related
3.3%
Real Estate
3.3%
Services – General
2.9%
Pet-Related
2.6%
GENDER BIAS IN VC FUNDING In June 2019, a Bloomberg article reported on a study by market research firm Crunchbase on venture capital funding for women. The findings, though not surprising, were disappointing. Crunchbase looked at more than 13,000 businesses over 5 years. Here are some of their findings:
Retail Food
2.6%
Baked Goods
2.1%
Clothing & Accessories
2.1%
Sports & Recreation
2.1%
Frozen Desserts
1.9%
Lodging
1.4%
Personnel Services
1.4%
Building & Construction
1.2%
Decorating & Home Design
1.0%
• Startups founded by women in gender-neutral categories received 54% less funding than female-founded businesses targeting a female audience.
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FRANCHISEUpdate
ISSUE 1, 2020
Source: FRANdata
GENDER PAY GAP: HALF OF MEN STILL DON’T GET IT In a study published by Time magazine on Equal Pay Day 2019 (April 2), nearly half (46 percent) of men believed the pay gap “is made up to serve a political purpose.” The study, which surveyed 8,566 American adults in March, found that 21 percent of men believed that reports on the wage gap in the media were “fake news,” while 31 percent believed they were “overblown.” To quote renowned social observer Charlie Brown, “Good grief!” Those responses might help explain the next couple of items.