May 2005 - NAWBO D/FW member and past president Wendy Lopez's company is mentioned in the May 23rd issue of the Dallas Business Journal

From the May 23, 2005 print edition
Two Dallas cos. among fastest growing inner city businesses

Two Dallas-Fort Worth companies made Inc. magazine's Inner City 100, a list of the fastest growing companies in "urban America."

Pinnacle Resources, an information and technology company, was ranked 71, with 2003 revenue of $9.6 million, and Dallas-based LopezGarcia Group, a construction engineering services firm, was ranked No. 90 on the list, with 2003 revenue of $22.5 million.

The winners were selected from more than 7,500 nominees. The ranking was based solely on revenue growth between 1999 and 2003.

The list will appear in the magazine's June edition, which hits newsstands on May 31.

The Inner City 100 is a joint initiative between Inc. magazine and the Initiative for a Competitive Inner City, a national, not-for-profit organization established in 1994 to promote healthy economies in America's inner cities that create jobs, income and wealth for local residents. Inc. magazine is a publication for growing companies and entrepreneurs. Web site: www.innercity100.org.

http://dallas.bizjournals.com/dallas/stories/2005/05/23/daily8.html

April 2005 - NAWBO member Cynthia Henson is featured in the April 1st issue of the Dallas Business Journal

From the April 1, 2005 print edition
Finding her way
Cynthia Henson wants to grow her business past the $1 million revenue mark, but access to capital for women entrepreneurs remains a challenge

When Cynthia Henson bought Ginny's Gifts in 2000, she used a credit card to finance the $125,000 purchase.

Today, the Garland entrepreneur is nearing the $1 million mark in combined revenue for her three gift and home-accessories businesses: Ginny's, All That Grows and the Lavender House.

But she realizes that to get her enterprises to the $5 million revenue mark, she'll need some commercial financing.

"In eight to 12 months, I'm going to have to seek a loan, and I have no idea how that will work," Henson said. "I know if I want to take it to $5 million, I'll have to take someone else's money and stop using my own, so I'm trying to gear myself up for that."

Use of credit and equity by women entrepreneurs to grow their businesses is increasing, according a new study, but still lags behind men.

The study, underwritten by Wells Fargo for the Center for Women's Business Research, analyzes key trends in business financing, capital availability and equity capital for women business owners over the past decade. The center tracked women entrepreneurs' access to capital for more than 10 years and also integrated data from outside sources and interviews with advocacy, business, policy and academic experts.

The findings are eye-opening. From 1996 to 2003, access to commercial credit by women business owners increased by more than two-thirds, from 20% to 34% -- a figure even more pronounced for businesses with at least $1 million in revenue. Of that group, 56% were using commercial credit. In contrast, however, 71% of businesses with at least $1 million in revenue and owned by men were using commercial credit.

Venture funding

Women also are making strides in venture capital financing, but again, still trail their male counterparts.

Venture One, a venture capital research firm, reports that in the first three quarters of 2004, only a paltry 4% of venture-backed companies were women-led. One factor, according to the Center for Women's Business Research, could be the paucity of women in decision-making positions at institutional equity firms. Women in leadership positions were more likely than their male counterparts to consider deals with women-owned firms (86% vs. 70%) and more likely to have invested (67% to 40%). One bright spot: the health care sector. There, women-led companies received 55% of venture funds.

The research center made some good recommendations for the financial services industry:

Build relationships with women entrepreneurs. Make sure women business initiatives permeate the entire organization and all lines of business. Make opportunities for women to move into positions of influential decision-making in banking and venture-capital arenas.

They also had some good pointers for women business owners:

Position your business for potential growth from the very beginning. Get educated about financing each stage of growth. Network with financial decisionmakers.

Making a difference

The Women's Leadership Exchange is among a bevy of institutions helping women entrepreneurs get to the next level. The New York City-based Exchange, which will hold a Dallas conference April 5 (see www.womensleadershipexchange.com), was among those who gave Henson a boost.

She attended last year's conference.

"I was so excited when I left -- just all the positive vibes that you got from the people speaking and from the people sitting at the table with me."

This year's conference (the Dallas Business Journal is a media partner) includes an opening keynote speech by Carolyn Kepcher from Donald Trump's organization and "Apprentice" fame, as well as a closing keynote by author and actress Marlo Thomas.

The WLE also will begin a new initiative this year, "Make Mine a $Million Business," a program designed to propel women entrepreneurs past the million-dollar mark in revenue.

The WLE, along with Count Me In and Open, the Small Business Network at American Express, will assist a select number of women to help them grow their businesses into million-dollar enterprises. The pilot program will offer loans of up to $45,000 from Count Me In, an Open credit card and a year of coaching. Runners-up will receive loans of $20,000.

Curry is managing editor at the Dallas Business Journal. Reach her at kcurry@bizjournals.com.