As small-business owners continue to make inroads on the improved economy, earning higher profits and hiring at a steadier clip to keep up with the growth in customer traffic, franchises are also performing quite well, as new data shows more women are becoming franchisees. Recently released statistics appear to illustrate the groundswell.
“Female franchisees soared 71% between 2011 and 2016.”
Between 2011 and 2016, franchise ownership among women jumped dramatically, up 71 percent nationwide, based on recent data from FranNet. Over the same five-year span, male franchisees also rose, but at a slower 26 percent upward pace.
Not only are more women taking a bite out of the business apple, but the vast majority are still going strong after entering the entrepreneurial orchard. Indeed, 91 percent of female franchisees were still up and running two years into their tenure, FranNet reported from its analysis. And 85 percent remained in business five years later.
Average of 849 companies started by women in U.S. per day
Women-owned businesses have skyrocketed in the U.S., particularly during the previous 20 years. For example, there’s been a 467 percent increase in minority women who own and operate their own companies since 1997, according to data compiled by American Express OPEN. That translates to around 849 new businesses launched by women per day.
With more women in ownership positions, they’re largely responsible for the uptick in employment, as the national jobless rate is down to a 17-year low, according to the Labor Department’s most recent figures. More specifically, of the 11.6 million women-owned businesses currently in operation, around 9 million Americans are in positions where women are at the helm.
On a state-to-state basis, the uptick in women franchisees varies, but in certain parts of the country, it’s flourished, particularly in Michigan, up steadily from 2013 through 2017, Grand Rapids Business Journal reported from the FranNet data.
Clothing boutique franchisee Sue Yocum, who got started in March 2017, told GRBJ that opening a franchise has enabled her to feel like she’s part of the community by contributing to its economic vitality.
“Most franchise owners will tell you it’s about being involved in the community,” Yocum explained. “It’s something corporate giving used to do, but you see in the past 15 to 20 years corporations have increasingly distanced themselves from the communities in which they work.”
“Total entrepreneurial activity in Detroit is up 20%.”
Michigan was deep within the throes of the recession during the downturn, experiencing double-digit unemployment rates as many companies were forced to close under the weight of higher operating and costs and fewer returns. Conditions have improved, however, with total entrepreneurial activity among millennials up 20 percent in Detroit, according to figures released by Babson College last November.
Economic clout greater for more women entrepreneurs
Other states have bounced back nicely now that the economy is on firmer ground, particularly as it relates to businesses launched by women. Leading the pack since 1997 are Nevada, South Dakota, North Dakota and Georgia, based on the report from American Express. These are the states where revenues and employment among women business-owners have grown the most, which the study refers to as “economic clout.”
Whether you’re a franchisee or someone who perhaps is looking to launch a franchise after establishing a successful small business, Growth Capital has the loan program you need to get started or take your company to the next level. We’re a private nonprofit corporation based in Ohio, whose overriding goal is the upward mobility of the entrepreneurs we lend to.
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Understanding COSC Accreditation and Its Importance in Watchmaking
COSC Accreditation and its Stringent Standards
Controle Officiel Suisse des Chronometres, or the Official Swiss Chronometer Testing Agency, is the authorized Swiss testing agency that verifies the precision and accuracy of wristwatches. COSC validation is a symbol of quality craftsmanship and dependability in timekeeping. Not all watch brands follow COSC accreditation, such as Hublot, which instead sticks to its proprietary stringent criteria with movements like the UNICO calibre, reaching equivalent precision.
The Science of Exact Timekeeping
The core system of a mechanical watch involves the spring, which supplies power as it unwinds. This mechanism, however, can be prone to environmental elements that may affect its precision. COSC-validated movements undergo strict testing—over 15 days in various conditions (5 positions, 3 temperatures)—to ensure their resilience and dependability. The tests measure:
Typical daily rate precision between -4 and +6 secs.
Mean variation, highest variation levels, and effects of thermal variations.
Why COSC Validation Is Important
For timepiece fans and connoisseurs, a COSC-accredited watch isn’t just a piece of tech but a testament to lasting excellence and accuracy. It signifies a timepiece that:
Provides excellent dependability and precision.
Provides guarantee of quality across the entire design of the timepiece.
Is likely to maintain its value more effectively, making it a smart choice.
Popular Timepiece Brands
Several renowned manufacturers prioritize COSC certification for their watches, including Rolex, Omega, Breitling, and Longines, among others. Longines, for instance, offers collections like the Record and Spirit, which feature COSC-accredited mechanisms equipped with cutting-edge materials like silicone equilibrium springs to enhance durability and performance.
Historic Background and the Development of Chronometers
The concept of the timepiece originates back to the need for exact timekeeping for navigational at sea, highlighted by John Harrison’s work in the eighteenth cent. Since the formal foundation of COSC in 1973, the certification has become a standard for judging the precision of luxury timepieces, sustaining a legacy of superiority in watchmaking.
Conclusion
Owning a COSC-validated watch is more than an aesthetic choice; it’s a dedication to quality and precision. For those appreciating accuracy above all, the COSC validation offers tranquility of mind, guaranteeing that each accredited timepiece will operate dependably under various conditions. Whether for personal contentment or as an investment decision, COSC-certified timepieces stand out in the world of horology, maintaining on a legacy of precise chronometry.
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