Mother Knows Best

Smart Money has an interesting story about Carol Mintz, a corporate business woman turned first time business owner. After 30 years as a marketer in corporate America — and at the urging of her unemployed twin daughters — Mintz became a first time small business owner with her daughters, purchasing a local boutique that sold second-hand children’s clothing.

And it appears Mintz isn’t alone. According to the article, 90% of businesses in the U.S. are family-owned or -controlled. Furthermore, the number of female CEOs or presidents at family-run companies more than doubled between 2002 and 2008, to about one quarter of all family businesses.

This is an exciting portion of the small business community, and one On Deck works with on a daily basis. Small businesses such as Mintz’s are the backbone of the US economy; availability and access to capital are crucial to helping this segment grow. We are looking forward to exploring these topics further at the AEO conference next month.