8: Empowered Women Empower Women

In this episode we are going to talk about women and business, specifically in the US. And the different events that led to where we are today and where we hope to go in the future.

Let’s get started by going back to the year 1848, when the Seneca Falls Convention happened.

• This was the first women's rights convention, organized by Elizabeth Cady Stanton (33 at the time!) and Lucretia Mott. The "Declaration of Sentiments" was presented, demanding equal rights for women, including the right to vote. We are including this because the right to vote means having a say in the laws that are passed, many of which directly affect women and business. We’ll get more into this but keep 1848 in mind when we talk about when the law actually passed, giving women the right to vote, because it took SEVENTY TWO YEARS. 

• Elizabeth Cady Stanton didn’t stop with this one convention. She partnered with Susan B. Anthony, in 1869, and formed the National Women’s Sufferage Association, later (1890) called the National American Woman Suffrage Association. 

• During this time, Susan B. Anthony was ARRESTED for attempting to vote in the presidential election in 1872, which brought national attention to their fight. 

• Unfortunately, Elizabeth Cady Stanton died in 1902 (born in 1815 so she did live a nice long life!) and never got to see her hard work pay off because it takes FOREVER to change things. FINALLY, in 1920, the 19th amendment was ratified, giving women the right to vote. 

• Then in 1923, the Equal Rights Amendment (ERA) Proposed, not enacted, proposed. Alice Paul and the National Woman’s Party propose the ERA, which would guarantee equal rights under the law, regardless of gender. This actually came to fruition in stages. It wasn’t all at once that women were given equal rights. 

• In 1943, women had to enter the workforce because of the war. This was when the famous Rosie the Riveter posters came out empowering women to get out and work in what were previously seen as male dominated jobs, mainly in manufacturing and defense industries. While they were working there were still very strict regulations on their finances. 

Empowered Women Empower Women

• During the 1950s they were not allowed to make contracts or wills, could not buy or sell property, had little control of their earnings in most situations, and were discouraged from acting politically, such as hold office, even though they could vote. Women's rights were minimal. Gender roles were becoming more pronounced as men returned from the war and took back the workforce, moving women back to being home makers. This decade was viewed as a time of conformity and women were expected to act in such a way that complied with societies expectations. They had to “make exciting meals, ensure their children are well behaved without disciplining them excessively, keep their home smelling lemon fresh and always look appealing for their husbands, and they had to make it all look easy.” It was the glorification of the happy home maker. 

• In 1963, the Equal Pay Act was passed by John F. Kennedy. It aimed to eliminate wage disparity based on gender. Let’s say it again for the people in the back, in NINETEEN SIXTY THREE this act was passed. If we check in today with how the U.S. is doing, JFK would be HORRIFIED. In 2023 (SIXTY YEARS LATER), full-time, year-round working women earned about 83% of what their male counterparts earned, according to the U.S. Census Bureau. There’s actually a “holiday” dedicated to this called Equal Pay Day which is March 12, for all who celebrate. Equal Pay Day, which occurs annually, highlights the number of additional days women must work to earn what men earned in the previous year. 

• Anyway, back to the 60s. A year later, in 1964 the Civil Rights Act of 1964, Title VII, went into law, which prohibits employment discrimination based on age, gender, race, national origin, and religion. Go LBJ! It seemed like things were moving right along. 

• In fact, 6 years later in 1970, there was the Women’s Strike for Equality, on August 26, more than 30,000 women marched down 5th avenue demanding equal rights. The National Organization for Women (NOW) organized a nationwide strike and was considered a huge success. 

• Then in 1972, the equal rights amendment was passed by congress and moved to the states with Hawaii being the first to ratify it. Unfortunately, not enough states supported it, and it was rejected and therefore, not added to the constitution. With the exception of the right to vote, equal rights are STILL not fully enacted and it’s 2025. 

• However, in the late 20th century, the federal government and all states have passed considerable legislation protecting the legal rights of women. The Equal Rights Amendment, in its most recently proposed form, reads, “Equality of rights under the law shall not be denied or abridged by the United States or any State on account of sex.”

• In the early 20th century, every state had passed legislation granting married women substantial control over their property, including the right to keep their own wages, and own property in their own name. 

• In 1968, The Fair Housing Act prohibited discrimination in homebuying, homeownership, and rental real estate on the basis of sex, race, religion, and other protected classes. 

• In 1974, The Equal Credit Opportunity Act granted single women the right to apply for loans and credit, removing a key barrier to homeownership. So now, women were allowed to take out credit cards in their name. Fun fact, in 1976, Carly’s mom got her first credit card, and it was a Mervyns card. Who knew she was a pioneer! She had a job and a car loan as well. This wasn’t a hundred years ago or longer; this was 1974. Fifty-one years ago. Before 1974, you had to be MARRIED to get a home loan.

• The 80s saw women taking on higher-paying and management roles. 

• In 1981, Sandra Day O'Connor was appointed to the U.S. Supreme Court — the first woman to serve as a justice on the highest court, breaking barriers for women in law.

• Then it was kinda quiet until the Women's Business Ownership Act of 1988. 

• While women have always been able to own and operate businesses, the Women's Business Ownership Act of 1988 (WBOA) was a pivotal moment, allowing women to take out business loans in their own names without needing a male co-signer, which previously was a common requirement. 

• I mean, we were four years old before this happened, October 25, 1988.

“We may encounter many defeats but we must not be defeated.”
— Maya Angelou

• Ruth Bader Ginsberg (born March 15!) was appointed in 1993 to the supreme court. 

• Ginsburg wrote the majority opinion in United States v. Virginia, ruling that the Virginia Military Institute’s male-only admission policy violated the Constitution's Equal Protection Clause. This decision was a major step forward for gender equality in education. 1996. 

• Speaking of education, in 1956 she was one of NINE women enrolled in Harvard Law School (“what like it’s hard?! - elle woods”) and about 500 men… she didn’t graduate from there but transferred to Columbia Law School where she tied for 1st in her graduating class. 

• In 1960, Supreme Court Justice Felix Frankfurter rejected Ginsburg for a clerkship because of her gender. She managed to get a job because a law professor at Columbia had to threaten a judge to hire her or he would never hire another Columbia grad. 

• Ginsburg authored the Court's opinion in United States v. Virginia, 518 U.S. 515 (1996), which struck down the Virginia Military Institute's (VMI) male-only admissions policy as violating the Equal Protection Clause of the Fourteenth Amendment. For Ginsburg, a state actor could not use gender to deny women equal protection; therefore VMI must allow women the opportunity to attend VMI with its unique educational methods.[101] Ginsburg emphasized that the government must show an "exceedingly persuasive justification" to use a classification based on sex.

• Ginsburg dissented in the Court's decision on Ledbetter v. Goodyear, 550 U.S. 618 (2007), in which plaintiff Lilly Ledbetter sued her employer, claiming pay discrimination based on her gender, in violation of Title VII of the Civil Rights Act of 1964. In a 5–4 decision, the majority interpreted the statute of limitations as starting to run at the time of every pay period, even if a woman did not know she was being paid less than her male colleague until later. Ginsburg found the result absurd, pointing out that women often do not know they are being paid less, and therefore it was unfair to expect them to act at the time of each paycheck. She also called attention to the reluctance women may have in male-dominated fields to making waves by filing lawsuits over small amounts, choosing instead to wait until the disparity accumulates.[104] As part of her dissent, Ginsburg called on Congress to amend Title VII to undo the Court's decision with legislation.[105] Following the election of President Barack Obama in 2008, the Lilly Ledbetter Fair Pay Act, making it easier for employees to win pay discrimination claims, became law. Ginsburg was credited with helping to inspire the law.

• 2000 - 2019ish. It does feel like things are slowing down a little bit as the gap between men’s and women’s roles in business becomes more even. There is still a pay gap, as much as men don’t want to admit it. Women are doing the same job, if not more, for less money. Women are also still very much seen as the ones who take on the non-monetary jobs in an office like coordinating events, remembering birthdays, planning all the things, taking notes in meetings, etc. Remember that NO is an okay answer and you aren’t going to lose your job over not planning joe in accounting’s birthday lunch. Maybe Joe doesn’t get lunch, who plans your lunch?! There is still an old-fashioned way of thinking that women are in charge of the household. With both partners working equal hours, household jobs should be split equally as well.

• Between 2019 and 2023, the number of women-owned businesses in the U.S. increased significantly, with women-owned businesses now making up nearly 40% of all businesses, and their growth outpacing that of male-owned businesses. 

• Women-owned businesses added 1.4 million jobs and generated $579.6 billion in revenue to the economy during the pandemic. 

• Women-owned businesses employ 12.2 million workers and generate $2.7 trillion in revenue.

“A girl should be two things: who and what she wants.”
— Coco Chanel

Some fun facts:

• Since 1972, the number of WOBs in the United States has increased more than 3,000%, with an average of 1,821 new businesses started per day by women between 2017 and 2018.

• Female entrepreneurship is on the rise across the United States, with women-owned businesses growing 114% over the past two decades. 

• Women-owned businesses are thriving across various industries, with retail, health, beauty, and fitness services, and food and restaurant industries standing out as prominent sectors.

• 60% of U.S. college degree earners today are women. LINK TO SOURCE

Inspiring Women and the age they were when they made a difference: 

• The first female-owned business in the United States is recorded in 1739 when Eliza Lucas Pinckney took over her family's plantations in South Carolina when she was 16 years old. 

• Tory Burch (Tory Burch LLC)

• Age at Success: 38
  Story: Launched her fashion label in 2004 from her kitchen; gained national attention after Oprah called her “the next big thing.”

• Melanie Perkins (Canva)

• Age at Success: 30
  Story: Co-founded Canva in 2013; now one of the youngest female tech CEOs of a unicorn startup.

• Julia Child

• Success Age: 49
  Venture: Mastering the Art of French Cooking published in 1961.
  Background: Worked in intelligence during WWII, discovered cooking in her late 30s, and didn’t become a household name until nearly 50.

• Mary Kay Ash

• Success Age: 45
  Venture: Founded Mary Kay Cosmetics in 1963.
  Background: Left a sales job after being passed over for a promotion, then built an empire.

• Maya Angelou
  Maya Angelou was an American memoirist, poet, and civil rights activist. She published seven autobiographies, three books of essays, several books of poetry, and is credited with a list of plays, movies, and television shows spanning over 50 years. She received dozens of awards and more than 50 honorary degrees.

A fun quiz to see which trailblazing woman you are most aligned with!
Kelly and Carly got the same result: Michelle Obama!

America Ferrera Speech from the Barbie Movie: 

It is literally impossible to be a woman. You are so beautiful, and so smart, and it kills me that you don't think you're good enough. Like, we have to always be extraordinary, but somehow we're always doing it wrong. You have to be thin, but not too thin. And you can never say you want to be thin. You have to say you want to be healthy, but also you have to be thin. You have to have money, but you can't ask for money because that's crass. You have to be a boss, but you can't be mean. You have to lead, but you can't squash other people's ideas. You're supposed to love being a mother, but don't talk about your kids all the damn time. You have to be a career woman, but also always be looking out for other people. You have to answer for men's bad behavior, which is insane, but if you point that out, you're accused of complaining. You're supposed to stay pretty for men, but not so pretty that you tempt them too much or that you threaten other women because you're supposed to be a part of the sisterhood. But always stand out and always be grateful. But never forget that the system is rigged. So find a way to acknowledge that but also always be grateful. You have to never get old, never be rude, never show off, never be selfish, never fall down, never fail, never show fear, never get out of line. It's too hard! It's too contradictory and nobody gives you a medal or says thank you! And it turns out in fact that not only are you doing everything wrong, but also everything is your fault. I'm just so tired of watching myself and every single other woman tie herself into knots so that people will like us.

“There is no limit to what we, as women, can accomplish”
— Michelle Obama

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Our sources: ChatGPT, Google AI, womenonbusiness.com, wcorporation.org, Entrepreneur, congress.gov, Wikipedia, Association for Enterprise Opportunity.