American Express’ OPEN small business division announced last week OPEN for Women: CEO BootCamp, which is designed to teach female entrepreneurs business fundamentals.
A report commissioned by AmEx’s OPEN found that between 2007 and 2013, female entrepreneurs started businesses at a rate 150 percent higher than the national average. The CEO BootCamp program is designed to help women become better company managers and to unleash the full potential of their companies.
To help craft the program, OPEN released a survey asking female entrepreneurs to identify the challenges and opportunities facing female business owners. The survey found that 41 percent of female entrepreneurs said making the personal commitment to grow is the most important key to growing a business. Only 54 percent of respondents considered themselves a success when asked about their business performance.
Additionally, the survey found that only 26 percent of female entrepreneurs rate themselves as excellent delegators, and 70 percent said they are hands-on-leaders even though sharing responsibility could be beneficial. Nearly 50 percent of women entrepreneurs consider themselves to be excellent decision-makers, while only 26 percent said they are excellent negotiators.
“Given our rich legacy in the women’s entrepreneurship space, and the existing need, the time is right to establish this program that speaks to the mindset of women entrepreneurs,” AmEX OPEN President Susan Sobbott said. “CEO BootCamp can help women overcome obstacles that may be holding them back through highly focused programs on strategies for scaling their business and, in turn, increase the overall economic clout of women-owned businesses.”