the Institute for Economic Empowerment of Women
Empowering Women All Around the World - Economically | Socially | Politically
25Oct

Happy Anniversary HR 5050!

Posted by: Terry Neese Categories: Blog
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In 1988, I had the privilege to work with the leadership of the National Association of Women Business Owners (NAWBO) on an important piece of legislation known as HR 5050 – Women Business Ownership Act. In fact, I was present when President Reagan signed HR 5050 into law – what a thrill it was!

This legislation provided many positive changes for women business owners including a woman’s ability to get a loan from a bank on her own and the creation of the now almost 100 Women’s Business Centers across America.

HR 5050 means I don’t have to get a man to go to the
bank with me to get a loan!

I was honored and privileged to have worked on this legislation with incredible NAWBO leaders and mentors, Gillian Rudd and Virginia Littlejohn. But, signing the law was only the beginning – now came the challenge of getting the law implemented and funded. You see, some legislators weren’t really interested in funding this legislation because they didn’t see the necessity of spending money on Women’s Business Centers or in funding an SBA Office of Women’s Business Ownership. The fight continued.

In 2001, 13 years after the passage of HR 5050, I was still struggling with Washington to get many components of HR 5050 funded or continued funding for other components. NAWBO leadership knew women were growing businesses exponentially, but few were talking about it. NAWBO demanded the SBA go back and retrace what women were doing and discovered that women were starting and growing businesses 2 times faster than men. This is incredible information as it set the stage for women to be recognized as a vibrant and vital part of the economy.

While NAWBO was a strong voice for women business owners, it didn’t match the larger organizations that lobbied for legislation. I knew there had to be a stronger voice for women business owners if we were to be taken seriously. I co-founded Women Impacting Public Policy (WIPP), a coalition of women business organizations, for the sole purpose of advocating for legislation important to the women’s business community. Now, when WIPP talks to a member of Congress, they know there is the power of 67 women’s organizations behind a particular piece of legislation or opposing legislation detrimental to women business owners … and they pay attention.

At the Institute for Economic Empowerment of Women (IEEW), it’s all about business education and the power of your voice. Women in Afghanistan in particular are where we were in 1988 – unrecognized as a powerful economic engine. Rwandan women are much further along as they have the largest percentage of women in Parliament in the world! Through our efforts, our students are learning not only how to start and grow businesses, but they are also learning how to unify as one cohesive unit for the purpose of positive legislation for their businesses.

HR5050 set the path in the U.S. toward women being counted and much more; but it’s up to us to grow our voice and take the positive steps. I am honored to have played a small role in this historical event, and take very seriously my responsibility to help other women achieve their goal toward economic stability. I pledge to continue to Pay Forward the work started in 1988, and look toward 2020 as the year for economic equality. HR 5050 was just the beginning. Happy 24th Anniversary!!

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17Oct

A Strong Man Behind a Strong Woman

Posted by: Terry Neese Categories: Blog
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By Dr. Terry Neese

Founder/CEO, The Institute for Economic Empowerment of Women

I would like to dedicate this monthly blog to my beloved husband, Earl, who just passed away after 39 years of marriage. You see, IEEW would not exist without him. Besides being my soulmate, a wonderful husband, and a devoted father and grandfather, he was a supporter of women’s rights and a champion of the power of women long before this became in vogue. In fact, you could probably have called Earl a bonified feminist.

Earl was successful in his own right, as an accountant and author of western novels. Earl was also a pilot and avid traveler. But, it wasn’t enough for him to be versatile and successful in his own work and hobbies. He also wanted me to be successful in my own right. He was my biggest fan and for that I will be forever grateful.

When I launched Terry Neese Personnel Services back in 1975, he was my financial advisor and my constant supporter and confidante. When the building that housed my company tragically burned to the ground, Earl helped me rebuild my business one painstaking step at a time. When I became the first woman to become nominated for lieutenant governor of Oklahoma in 1990, Earl traveled with me throughout the state. He encountered some residents in the state, men and women, who would recoil from his hand when he handed out campaign literature and they would say “no way will I vote for a woman!” Earl became so angry that the campaign staff suggested we get him off the campaign trail because they thought he was a PR disaster waiting to happen. This is the main reason Earl remained a staunch supporter of the power of women in politics, in business, and in all forms of position of leadership.

When I launched IEEW 6 years ago, it was Earl who gave me the courage to take on this challenging responsibility and venture into new territory in Afghanistan and Rwanda to work with women business owners. I didn’t think I could do it. But today, nearly 250 graduates of our PEACE THROUGH BUSINESS® program later, we are going strong and hope to be expanding our mission to other developing nations.

As a testament to the character and hard work of my husband, the Earl Neese Scholarship Fund, established just two weeks ago, already boasts more than $7,000. We hope to see this fund grow and develop and help us do so much more at IEEW. The money will be used, among other things, to help pay for our 2013 class of women business owners from Afghanistan and Rwanda to travel to the United States next summer. During that time, they will have their three weeks of leadership and business training, mentoring, annual International Women’s Economic Summit, and graduation from the program.

I am who I am because of Earl, and IEEW is a reality because of who he was. I think Earl believed in me more than I even believed in myself. And, by doing that, he was making a statement to the power of women – everywhere. And, that is a legacy to be most proud of.

If you wish to donate to the EARL N. NEESE Scholarship Fund, please follow this link:

Earl N. Neese Scholarship Fund

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11Jun

Let’s Thank the Men in Our Lives

Posted by: Terry Neese Categories: Blog
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As we look to celebrate Father’s Day on June 17, let’s remember that behind every great woman is a man. Whether it is a spouse, significant other, brother, father, or a dear friend, the men in our lives at one point or another have stood behind us and helped us in our desire to grow and achieve in our professional careers.

 

I know that for me, my dear husband, Earl, has been with me through it all. He was there when the building that housed my business, Terry Neese Personnel Services, burned down in the 1980s. Records were not computerized back then and everything had to be rebuilt from scratch. Earl lent support, guidance, and advice. He was there when I took over the helm at the National Association of Women Business Owners, when I became involved with politics, and when I launched this labor of love six years ago called IEEW. I can easily say that I couldn’t have accomplished all that I have without Earl’s strong shoulder to cry on and embrace success.

 

On the personal side, together we watched daughter, Kim, grow into a fine young woman and successful business person in her own right. And, we share in the joy that granddaughters Emily and Erin bring to us everyday. We also have had so many fun adventures, traveling the globe and experiencing all kinds of exciting and diverse peoples and cultures. None of these precious moments would have been as fulfilling if I didn’t have my beloved and trusted co-pilot with me. And, I do mean that literally, since flying planes is a passion that Earl and I share!

 

As women, we like to think that can do it all. And, very often we do. The ability to multitask and expertly handle work, kids, and households seems to be a part of our genetic makeup. We sometimes think it weak of us to acknowledge that we may need the help and understanding of the men in our lives. After all, for so many years, it was women who were in the background, as they baked, sewed, had babies, and watched from the inner sanctum of their homes as their husbands ventured out into the world to achieve great things. We stood behind them. Now, it is perfectly okay for them to stand behind us and for us to lean on them when we need a kind word or reassuring hug.

 

To my husband and the many other Earls out there, we honor you for all that you do for us. Thanks for worrying about us and keeping things running smoothly at home while we are on business trips in other corners of the planet. Thanks for attending conferences and events with us, even when you would rather be doing something else. And, most of all, thanks for having the confidence and security in yourselves to be able to take a backseat when necessary so that we can shine in the limelight.

 

Happy Father’s Day, guys!!

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2May

The Importance of Ongoing Education for Entrepreneurs

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By Dr. Terry Neese, Founder, Institute for Economic Empowerment of Women

2011 PEACE THROUGH BUSINESS Women Entreprenuers at Northwood University

 

No matter how long you are in business, there is always something new to learn. Whether it is becoming more familiar with the benefits of marketing through social media or learning about new products that are available in your field, all small business owners can benefit from enhanced education. I believe that this is true whether you are 26, 46, or 66.

As a small business owner, here are some cost-effective ways for keeping up your skills. The same could be said for your employees; it is worth investing in their education as well. You will wind up seeing the end results in your bottom line.

 

  • Consider a degree part-time

Universities and colleges all across the country welcome entrepreneurs who want to return to college to finish up a degree on a part-time basis. Usually, there is financial aid available, as well as flexible funding programs. For instance, one of our partners at IEEW,NorthwoodUniversityinCedar Hill,Texas, offers majors in management, marketing, and accounting with concentrations that range from international business to entertainment management to automotive marketing and management. All these programs can benefit entrepreneurs, and Northwood’s student body ranges from ages 17 to 60. The school offers evening classes for undergraduate and graduate degrees, and 98 percent of the students receive financial aid. In fact, Northwood is so committed to assisting small business owners that it hosts our Business Boot Camp from July 9-13 every year for our PEACE THROUGH BUSINESS® students fromAfghanistanandRwandathat graduate from IEEW’s unique entrepreneurship program.

 

  • Take online courses

If you or your employees just don’t have the time to get to a traditional classroom setting, consider taking courses online. About 29 percent ofU.S.higher education students are taking courses online, according to the Sloan Consortium, a nonprofit group that promotes online education in general. This is a way for small business owners to improve their skills, with a great deal more flexibility in scheduling compared to traditional classroom time.

 

  • Attend trade/professional association workshops and conferences

Whatever kind of business you are in, there will be some association to represent you. Aside from the valuable contacts you can make by joining such a group, there are always educational opportunities available. Associations offer certifications and designations, which will give you valuable knowledge and training and help you market yourself as an expert in your field. Even if attending an organization’s annual meeting is too costly for you at the present, there are usually local chapters that will offer workshops and chances to obtain certifications. They are welcoming to new members. There also are wonderful networking benefits of joining a local chapter of the key association in your industry. Your time will be well worth it.

  • Read, Read, Read!

Trade magazines are in business for a reason. That reason is to inform and enlighten those in a particular industry. Spend the money (and remember, subscriptions to trade publications can be written off as a business expense) and subscribe to one or two of the leading magazines in your industry. Nowadays, you can even get very inexpensive online subscriptions to most publications. You can keep up on the latest trends, learn new marketing and branding information, and connect with individuals quoted in articles who can become part of your client base. For instance, I read the Washington Post, Washington Times, New York Post, Wall Street Journal, and my local newspapers every day without fail. It keeps me in the know, and I can follow all the new trends in business. It is well worth my time – no matter how busy I get.

 

Utilize education for the amazing tool that it is and happy learning!

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3Apr

Healthcare Reform: Please Give Us Some Closure

Posted by: Terry Neese Categories: Blog
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Dr. Terry Neese, Founder, CEO

The 27 million small business owners across this nation are holding their breath in anticipation following the Supreme Court’s wrapping up of its arguments over President Obama’s landmark health care law. There are many who oppose it, and just as many who favor it. But, whether in favor or against, Democrat or Republican, one fact is certain for all those who are self-employed: something needs to be done to lower skyrocketing health care coverage and provide clarity on exactly how the new law will impact us.

The Patient Protection and Affordable Care Act (PPACA) allows for businesses with fewer than 25 employees to qualify for tax credits of up to 35 percent in order to lower the cost of purchasing health insurance. This Act applies to about 4 million businesses. Companies that don’t buy into a plan for full-time employees will face financial penalties. What small business owners need for any plan to work is true savings in their costs. I have found entrepreneurs are uncertain as to how new laws may impact them. As there is just so much confusion in the marketplace right now, clarity and better dissemination of information are crucial at this point.

According to the Henry J. Kaiser Family Foundation in 2011, only 57 percent of businesses with 50 or less workers provided health care benefits, and that is largely because of the high costs. Larger businesses have even had a hard time paying for health care for their employees, and are feeling strangled by the costs of health insurance. I had dinner recently with an entrepreneur who has 300 employees, pays $20,000 a month in health care premiums, and is about to start paying $50,000 a month in premiums. She is hoping for some relief and fears she may go out of business if her premiums don’t go down.

Small businesses, of which about 37 percent are owned fully or in part by women, are anxious for answers when it comes to health care laws. And they need these answers - as well as financial relief from the high costs of premiums - right now.

After all, the economy is on the uptick. Unemployment claims are down, and more and more jobs are being created. This is wonderful news. But here is the downside for small business owners; as the economy improves and good workers in all fields will once again have their pick of jobs, they will be less likely to go with a small company that doesn’t offer health care or has minimal coverage, versus a larger company with more generous benefits. If the new law can truly help small business owners provide good, quality health care at an affordable rate, then it will allow the moms-and-pops of the world to compete with the big guys for the best and brightest talent in the workplace.

For now, we will wait and see. But whether the high court strikes down the law or not, small business owners are hungry for some relief and better understanding. We want to do what is just and right by our employees, without breaking the bank.

Let our voices be heard.

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