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NAWBO SmartBrief: 6 resources for women inventors

Monday, November 24, 2014  
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November 17, 2014

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Report: More oversight needed for set-aside contracts
The Small Business Administration should do more to ensure that contracts set aside for women-owned companies are going to eligible firms, according to a report from the Government Accountability Office. The SBA previously discovered that 40% of recipients in 2012 and 2013 were not eligible. The SBA "has yet to develop procedures that provide reasonable assurance that only eligible businesses obtain (women-owned small business) set-aside contracts," the GAO said. American City Business Journals/Bizwomen (11/12)

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Get It Right: Pricing Strategies That Work
Many entrepreneurs hope for success by offering low prices, while in fact most world-class entrepreneurs succeed by setting higher prices. If you're not exactly sure which pricing strategy will work for your business, these 6 steps can help you set your company's prices for success. Read the exclusive article now.

Business Trends

Entrepreneurship week highlights accomplishments of businesswomen
Wednesday is Global Woman's Entrepreneurship Day, part of Global Entrepreneurship Week. Entrepreneurship gives women the ability to achieve a work-life balance that may be unattainable in the corporate world, but only if they have confidence, experts say. Tampa Bay Times (St. Petersburg, Fla.) (11/13)

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U.S. consumers more optimistic, spending more
U.S. consumer sentiment is up this month, and consumer spending rose in October, boding well for the crucial holiday shopping rush. However, one component of the Thomson Reuters/University of Michigan sentiment index showed inflation expectations falling, posing a challenge for the Federal Reserve's battle against disinflation. MarketWatch (11/14), Reuters (11/14)

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Small Business Spotlight

Pet-care boom provides opportunity for entrepreneurs
Shaffia Galis-Menendez, who owns a pet-grooming operation based out of a van, is among the entrepreneurs tapping into the pet-care market. Pet-care spending reached $56 billion in 2013, compared with $17 billion in 1994. Bloomberg Businessweek (11/14)

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NAWBO (R) News

Will your business pay more for healthcare in 2015?
Find out during NAWBO's e-learning webinar on Nov. 18 from 12-1 p.m. EST. This is an introduction for anyone new to the law as well as a current update on the status of the implementation and what it means for women business owners. FREE to NAWBO members.

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Shop Small: Join the Movement as a Small Business
Shop Small is a movement encouraging people to shop at small businesses that NAWBO is proud to support. This movement, now in its fifth year, celebrates shopping small on the Saturday after Thanksgiving: Nov. 29. To help spread the word as a woman-owned small business, sign up your store at Shop Small to receive individual store Small Business Saturday marketing materials. For qualifying American Express Card-accepting small merchants, their stores may participate in the American Express Card member offer for Small Business Saturday and appear on the Shop Small Map.

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Best Practices

6 resources for women inventors
A number of programs can help women inventors get their ideas off the ground, writes Kedma Ough. Among other things, look for crowdfunding platforms, inventors' groups and companies that are offering grants for new ideas, Ough advises. Entrepreneur online (11/12)

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4 women CEOs on the challenges and opportunities of leadership

Dara Richardson-Heron

Richardson-Heron (YWCA)

Women in the workplace don't face the same obstacles and treatment as men, and they need to fight for their rights and for the respect and recognition they deserve, say four CEOs interviewed by Adam Bryant. "A lot of women allow things to happen because they worry that if they take a stand, it's going to derail them," says Dara Richardson-Heron, CEO of the YWCA. "But if you don't take a stand, it is going to derail you personally, because you're not going to be able to look yourself in the mirror and say, 'This is who I am,'" The New York Times (tiered subscription model) (11/13)

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HR expert: Diversity in hiring doesn't have to be a chore
Building a diverse workforce can seem like a challenge, particularly in male-dominated industries such as technology. Axxess HR Director Melody Lenox says companies can make the process easier by looking further afield for talent, publicizing the diversity they already have, and tweaking the screening process so each applicant's skills and qualifications are emphasized. The Dallas Morning News (free content) (11/15)

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Should you use peer-to-peer lending?
Peer-to-peer lending through platforms such as Prosper and Lending Club provides an alternative for small-business owners seeking funds, Ilana Greene writes. The use of this type of financing is "expanding at an incredible rate," says Don Davis of Prime Meridian Capital Management. The Huffington Post (11/13)

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Lifestyle

8 healthy snack options
The next time you're looking for a snack, reach for something healthy such as popcorn, Greek yogurt with berries or hummus with vegetables, writes nutritionist Lisa Young. "Snacking can be a great way to boost our intake of fruits and vegetables, and nutrients such as fiber, which so many of us fall short on," Young notes. The Huffington Post/The Blog (11/16)

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SmartQuote

If I'm going to lead, tell me the goal line and I'll figure out how to get there."

-- Dara Richardson-Heron, CEO of the YWCA, as quoted by The New York Times

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About NAWBO®

Founded in 1975, NAWBO® propels women entrepreneurs into economic, social and political spheres of power worldwide. Thirty years later, NAWBO® is still the only organization that solely represents the interest of women entrepreneurs in all industries. NAWBO® and Women Mean Business™ are registered trademarks of the National Association of Women Business Owners. For more information, please visit www.nawbo.org.

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