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Report shows more Nevada women are working for themselves

Jackie Valley
Jackie Valley
Economy
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Ira Green filled the first orders for her all-natural deodorant from her kitchen, stunned and overjoyed that people purchased a product she had spent hours perfecting.

“I will never forget,” she said. “I was so excited. I couldn’t believe that there were 25 people that used something I made.”

That was two years ago. Now, her company — Freedom Deodorant — has outgrown that kitchen and relies on two manufacturers, plus an office just west of the Las Vegas Strip. These days, her shipments go all over the world — Australia, Chile and Germany, to name a few — and customers can buy the deodorant from brick-and-mortar locations across the country as well as on Anthropologie’s website.

Green is among a growing number of women in Nevada and Las Vegas who are trading the employee life to become the employer. The Silver State ranks ninth in growth of women-owned firms since 2007 and, among metropolitan areas, Las Vegas comes in fifth, according to the State of Women-Owned Businesses Report, which is commissioned by American Express.

The trend doesn’t surprise Green, who previously owned a financial advising company.

“I think women have been underestimated for so long,” she said.

Today, women-owned businesses account for 40 percent of all firms in the United States, according to the report. That’s up from just 4.6 percent in 1972.

The report also found that minority women are leading the pack in terms of launching their own businesses. The number of women minority-owned businesses has grown 163 percent — triple the rate of the female demographic as a whole — since 2007.

On top of steady growth, these women-owned businesses outperformed others in the marketplace: Total employment by women-owned firms, for instance, increased by 21 percent over the last 11 years, while all other businesses saw a 0.8 percent decline. Total revenue also jumped 46 percent for women-run companies during that time period, compared with a 36 percent increase for all other businesses.

Las Vegas is a growing city in a state with low taxes and relatively affordable housing — all of which could be contributing to the growth of women-owned businesses, said Geri Stengel, who does research for the American Express report.

Nevada boasts roughly 98,800 women-owned businesses.

So what’s driving women to start their own businesses?

Stengel said some women are “necessity entrepreneurs” who experience an employment setback, such as losing a job or reduced hours, and decide to start their own business for lack of other options. In those cases, the new business may serve as supplemental income.

Other women are pursuing their dreams and trying to fill voids they see in the marketplace.

“Usually in a strong economy, you’ll see more people trying to bring their ideas to the market,” said Stengel, who sees a blend of necessity and opportunity entrepreneurs in the current economic climate.

Denette Braud, owner of Braud's Funnel Cake Cafe, displays a lemon funnel cake on Thursday, Aug. 30, 2018. (Jeff Scheid/The Nevada Independent)

Denette Braud fits that description. She noticed Las Vegas lacked a funnel cake business and began selling the deep-fried treat at festivals and events in 2006. When the economy improved seven years later, she bought a concession trailer to sell her funnel cakes via the city’s emerging food-truck scene. And then, nearly a year ago, she took another leap of faith and opened a permanent location at Town Square called Braud’s Funnel Cake Cafe.

“We found the need and filled it,” she said. “So many people love funnel cakes. It’s kind of a nostalgic thing.”

Braud, who once owned a hand-painted clothing business in California, said entrepreneurship is in her blood. She grew up watching her father own and operate a variety of businesses, including a record shop, hamburger stand and excavating and gravel business.

She suspects more women are starting businesses after realizing the corporate world doesn’t provide as much personal satisfaction or as many benefits as it once did. Still, Braud isn’t downplaying the challenges of being your own boss.

“The first year is really hard,” she said. “It really is. You have a lot of expenses.”

Green echoes that sentiment. The first year she started the deodorant business, she kept running her financial advising firm, too. The mother of three young girls considered it a safety net for her family, albeit one that required many long days and nights.

Her advice to other women thinking about entrepreneurship: Don’t go in blind.

“Some people just go and start a business,” Green said. “Okay, how are you going to feed your family? How are you going to make the rent? Don’t just quit your job because you hate your boss and you want to start a company.”

Kathleen Taylor, who handles entrepreneurship training and development at the Nevada Women’s Business Center, said she sees a common characteristic among the women striking out on their own — and that’s confidence in themselves and their abilities.

“They’re fearless,” she said. “They step out on faith or a belief in themselves and they succeed fine. And if not, it’s a good learning experience. It’s like a win-win.”

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