As you read about the diverse portraits of today's successful business women and entrepreneurs in this newsletter, a common link can be seen; these women and their companies represent the increasing and ever-changing role and impact of women in the business world today. Women are succeeding and thriving in the corporate world and women entrepreneurs are a major force in today's American economy.

According to the Bureau of Labor Statistics, in 1985, women held approximately one-third of the available managerial/executive positions, and less than one-half of the available professional jobs. In contrast, in 1996, women held about 46% of all managerial/executive positions, and better than one-half of all professional positions.

Women of color are less well represented. Of the 57.8 million women in the US workforce, 77% are white. Of 2.9 million women in management, 85.7% are white. In a Catalyst survey, "Women of Color in Corporate Management," only 34% of 1700 women surveyed said they were satisfied with their advancement opportunities. The major barriers to advancement: not having a mentor, lack of informal networking with influential colleagues, lack of role models, lack of high visibility projects.

The study also found that women of all ethnicities earn less than their male counterparts. Asian women earn 67 cents to each $1.00 earned by white male managers; White women, 59 cents; African American, 58 cents and Hispanic women 48 cents.

Nationwide, there are nearly 8 million women-owned businesses (WOBs) in the US generating nearly $2.3 trillion in sales. Women-owned firms account for more than one third of all firms in the US and provide employment for one out of every four US company workers ‹ 18.5 million employees. Growth of WOBs continues to outpace overall business growth by nearly 2 to 1.

Minority women-owned businesses are growing faster than all firms, increasing in number by 153% between 1987 and 1996 - three times faster than the overall rate.

The number of women-owned businesses climbed a staggering 42% between 1991 and 1994, and women-owned businesses now hire more workers in the U.S. than FORTUNE 500 companies do globally! The Small Business Administration estimates that women start companies at twice the rate of men. If this growth trend continues, women will own half the nation's small businesses by the year 2000. Success-oriented, women-owned firms are also more likely to have remained in business for at least three years than their male-owned counterparts.

In NYC, 248,700 women-owned firms, representing 37% of all NYC businesses, employ 754,000 people, generating over $127 billion in sales. The City ranks first out of the top 50 metro areas in the number, employment and sales of WOBs.

The corporate community is responding to women's needs and concerns as never before, tailoring products (particularly financial products) and marketing services specifically to women in business and women business owners.

50% of all jobs created in the last three years were created by entrepreneurial women. You may soon be working for a female top executive or a woman business owner - or find yourself among their ranks.

For more information, please contact Lisa Skriloff, 212-242-3351, infobrokr1@aol.com.