Big Green Breakthrough

Despite global fears about the economic meltdown, some business leaders think they’ve found a solution that will get the economy moving again: women business owners.

At the World Economic Forum in  Davos, Switzerland, Ernst & Young, the global accounting firm, released the results of a study supporting the claims starting to come from many quarters that women and the businesses they run could be the linchpin for the world’s financial Renaissance.

“In troubled financial times, hope for a brighter future resides largely in the world’s potential for renewed economic growth. What many people don’t realize is that achieving such growth depends on the world’s ability to expand women’s participation in the global workforce,” the company notes on its website.

To raise awareness of this “powerful force for growth,” Ernst & Young conducted in-depth interviews and gained insights from leading thinkers in business, government and academia. Their research, Groundbreakers: Using the strength of women to rebuild the world’s economy,” ” demonstrates that the increased participation of women in business could significantly enhance global growth.”

In a complementary op ed piece in the Wall Street Journal, Ernst & Young CEO says, “It’s not that women make better decisions, have a greater sense of risk, or can sniff out fraud better than men. But they tend to approach decisions differently than men, with different frames of reference.

“Not having enough women in positions of power and decision-making capacities has deprived major firms—and the global economy—of the diversity in thinking and resulting positive outcomes, which were desperately needed then, and now,” he added.

In other words, there’s never been a better time – or a more critical need – for women to jump into the business world – and to bring our desire to make that world greener and cleaner as well as more profitable.