OutBuro - 10 LGBTQ Corporate Equality Ratings Employer Reviews Monitoring Workplace Diversity Inclusion Recruitment Marketing Branding LGBT Professionals Entrepreneurs Community

New Study Suggest LGBTQ People in Management Great for Business

A new study by the Wisconsin LGBT Chamber of Commerce suggests that businesses with an LGBT person in a top management position do better than those that don’t according to New Now Next.

Dr. Jennica Webster helped design and facilitate the survey in which she polled 88 Wisconsin companies in the Chamber of Commerce. The results showed that LGBT people in leadership positions  actually did better in “organizational performance, social and environmental corporate social responsibility, workforce quality, and utilization, as well as high-performance human resource management practices.”

Wisconsin LGBT Chamber of Commerce - OutBuro LGBT Business News Employee Company GLBT Gay Professional Networking Lesbian Bisexual Transgender Queer community“This study supports what we have been saying for years—having LGBT people in leadership positions, whether it as a CEO, a business owner, a part of senior management or on the board of directors, is good for a business’s bottom line,” said Jason Rae, chamber president and CEO and one of the report’s authors. “Simply put, diversity is good for business.”

Added Rae, “Overall, organizations with one or more LGBT people in senior leadership positions perform better than other organizations. This study helps reinforce our commitment to helping ‘break the rainbow ceiling’ and get more LGBT people in senior leadership roles. When LGBT people are present in leadership roles, businesses do better.”

In conclusion, the report found “LGBT people hold important senior leadership positions within the sample of Wisconsin LGBT Chamber member organizations that responded to the survey.”

“Another conclusion is that among the organizations in this sample those that report having one or more LGBT people in senior leadership positions also report a variety of favorable outcomes compared to organizations with no LGBT people in senior leadership positions including levels of organizational performance, social and environmental corporate social responsibility, workforce quality and utilization, as well as high performance human resource management practices.

No differences were found between respondents with one or more LGBT people in senior leadership positions and those without LGBT people in senior leadership positions in terms of the number of LGBT supportive workplace policies and practices. We speculate that this non-significant difference with regard to policies may be a function of organizational size. That is, larger organizations typically have more formalized policies and practices overall including those aimed at supporting LGBT workers.”

OutBuro where you belong lgbtq entrprenuers out gay business owers lesbian startups queer professionals employer ratings customer reviews bisexual transgender equality community 1

Massachusetts LGBT Chamber of Commerce Launches Supporting Entrepreneurs

Massachusetts LGBT Chamber of Commerce - OutBuro LGBT Employee Company Employer Reviews GLBT Gay Professional Networking Lesbian Bisexual Transgender Queer job portal seeker community

The Massachusetts LGBT Chamber of Commerce, based in Boston. will be become an entrepreneur resource for all gay, lesbian, bisexual, transgender and queer business owners in the state. The goal of the new LGBT Chamber of Commerce is ‘to create an inclusive economic growth environment by promoting opportunities among LGBT-owned and allied businesses, corporations and professionals. The Massachusetts governor Charlie Baker and regional mayor Alex Morse

attended the opening along with local LGBT community leaders, community allies and of course business owners interested in learning more and looking to get involved. Officially it opened its doors on September 24th with a kick-off party hosted The Federal Reserve Bank of Boston. It is located at 50 Milk Street, 15th Floor, Boston, MA 02109.

Revenue Generation is Key Focus

Grace Moreno, Executive Director of the Massachusetts LGBT Chamber of Commerce, stated,”The chamber’s mandate ‘is putting more revenue in the pockets of LGBT-owned businesses.”

As an advocate and link, the Massachusetts LGBT Chamber of Commerce seeks to promote economic growth and viability for LGBT-owned and allied businesses, corporations, and professionals throughout the Commonwealth. We do this through advocacy, educational, and collaborative efforts, such as:

Jim Heppelmann, president and CEO of PTC Inc. a technology software firm based in Boston, said that ”Becoming a founding member of the Massachusetts LGBT Chamber was ‘an easy decision. Diversity and inclusion are essential to any organization’s creativity, growth, and success, and we recognize their role in helping to drive the innovative and nurturing spirit that makes us not only a great place to work but also a company people can feel proud of doing business with.”

Progressing Forward

LGBTI representation is currently a hot topic for the people of Massachusetts in the lead up the US midterm elections on November 6.

Among the questions on the ballots, voters will be asked whether they want to keep or repeal a law protecting transgender people in the state.

This is in reference to Senate Bill 2407 from 2016, which is designed to prohibit discrimination of people in public areas regardless of their gender identity. Groups advocating repealing the law have released transphobic political ads which are being broadcast in Massachusetts, which suggests that sexual predators will take advantage of laws which are designed to protect the trans community.


Massachusetts LGBT Chamber of Commerce

Phone
857.529.8010

Email
[email protected]

Address
50 Milk Street, 15th Floor, Boston, MA 02109

Twitter
@MALGBTCC

Facebook
https://www.facebook.com/malgbtcc/


Have an LGBT Business news tip? Want to share your story? Email me Email us.

Check out this article titled “LGBT Business and Non-Profit Leaders: Create Buzz and SEO Love

OutBuro where you belong lgbtq entrprenuers out gay business owers lesbian startups queer professionals employer ratings customer reviews bisexual transgender equality community 1
10 Tips for LGBT Startup Entrepreneurs - OutBuro LGBT Employer Reviews Rating Gay Professional Network Lesbian Business Networking GLBT Diveristy Company Queer Bisexual Transgender

10 Tips for LGBT Startup Entrepreneurs

An increasing number of lesbian, gay, bisexual, transgender and queer professionals are exploring the potential of starting their own company to become an LGBT entrepreneur. It sounds like an ideal job to work for yourself, to have no ceiling on your income potential, set your own daily schedule and do something you are passionate about and really believe in. And who knows. From being a dog groomer to dreams of becoming the next billion-dollar tech startup. The possibilities are almost limitless.

However, the harsh reality is, being self-employed can quickly become a burden and headache if not tackled in the right way. 20% of small businesses fail in their first year, 30% of small business fail in their second year, and 50% of small businesses fail after five years in business. Finally, 30% of small business owners fail in their 10th year in business. Such statistics are scary, but it reinforces the importance of knowing the key principles of entrepreneurship before setting off on an expensive venture.

1. Passion Drives

When looking at all the of hard work, long hours and financial commitment being passionate about what the business, industry, and clients can go a long way to sustain you during the startup and down times. Check out our article titled “Want to be an LGBT Entrepreneur? How to Start Business

2. Research It

No matter how much passion you have for something you also need to be somewhat convenienced that there is a market for your business. Check out our article titled ““>Market Research for LGBT Business Startups for a bit more information.

3. Support

Hopefully, you have the family, a life partner, and friends who believe in your vision and support you in any way they can. If not already consider joining your local LGBT Chamber of Commerce in your area. It’s a great way to not only stir business opportunities but also to network with peers for business coaching success support. Consider finding a mentor in that group or via OutBüro to be a business coach mentor either overall or within a particular area such as marketing or finance. As a small startup, you may be very knowledgeable about what you do, but as a business owner starting out you have to wear many hats and do it all or pay for it to be done. Getting coaching guidance can help you be effective and cut valuable dollars from hiring others. If you have success and talent to share with a startup entrepreneur you may also consider being a mentor to someone else and help grow the LGBT business community.

4. You have a Life – Hopefully

Launching and growing a business can be mentally and physically draining, in addition, to financially which all can add a huge amount of stress to your life. You have to take care of yourself first, your family, love and social relationships. Schedule time for the gym or other physical activities and outings with those that love and support you. If needed actually schedule this time so that your calendar app automatically reminds you of these important activities. This will aid in maintaining a balanced life and so can give your business all your energy when it’s time to focus on that. Ensure the business doesn’t 120% consume you.

5. Start Local/Small

Every business has to start small. Even Facebook and LinkedIn had small beginnings. Check out our article titled “The LGBT Entrepreneur10 Steps to the Perfect Business Plan”. Every business no matter the industry needs to prove there is an existing market. To get a good idea of your market review our article titled “Market Research for LGBT Business Startups”.

6. Cash Flow

Entrepreneurs have varying definitions of what this means, but at its core, cash flow is the most important factor in your early business’ success or failure. Without a positive cash flow, even the best business ideas will be bankrupt.

7. Lean and Mean

It’s easy to churn through cash in the business start-up stage when new entrepreneurs put their valuable early limited funds toward things like a cool downtown office space and provide employee perks that make working in the office seem like a trip to Dave and Busters.

It’s important to keep overhead low, especially during the startup phase. Keep a lean team and don’t sign up for unnecessary ongoing expenses. There are many ways to raise business capital. For ideas take a look at our article titled “How to Raise Money for Your LGBT Owned Business”. Check out our resource article titled “LGBT Entrepreneur Startup Venture Capital Funding” for a listing of venture capital who are LGBT themselves and/or open to business owners just like you.

8. Simple and Focused

So many entrepreneurs get exuberant about investing in trademarks, patents, complicated legal agreements, and company structures. However, these can drain your funds and time when you may be better off focusing on building your product or service, creating brand recognition in the most cost-effective manner you can, and an initial customer/client base.

9. Minimum and Grow

Craw, walk and then run is a great way to consider launching your business. In business, this is also termed as the minimum viable product (MVP), which is a product/service with just enough features/services to gain early customers and provide them with the value they appreciate and that you can do well. During this time is where you’ll acquire valuable feedback from the clients/customers/users to hone and grow your product/service.

10. Just Enough Talent

As an entrepreneur, you have to do so many jobs. It’s tempting to add staff, but really consider what a minimum viable team looks like before investing in employees. Check out our articles titled “LGBT Entrepreneurs Hiring Your First Employee”, and “How to Build a Great Team in Your LGBT Owned Business”.

We hope you found this and the related articles helpful. Do you have other tips? Please comment below. Join an OutBüro to discuss topics of related business ownership with your peers. If you don’t see a group you’d like, start it or use the Support | Contact Us form to request a new group be created. You may further use your OutBüro profile to post blog articles about your business or industry and content for all LGBT professionals and entrepreneurs to learn from. It is your community. Become an active part of it today.

OutBuro where you belong lgbtq entrprenuers out gay business owers lesbian startups queer professionals employer ratings customer reviews bisexual transgender equality community 1
OutBuro - Beneficial or Lame - LGBT Business Page Reappears on SBA Site - Employer Ratings Review Directory GLBT Gay Networking Lesbian Bisexual Transgender Community

Beneficial or Lame? LGBT Business Page Reappears on SBA Site

The United States has an estimated 1.4 million LGBT owned companies. This number, however, is very hard to determine because still, so many professionals fear publicly being out. The United States Small Business Administration’s (SBA) came under fire shortly after the Trump inauguration (Jan 2017) for removing pages focused on content for LGBT entrepreneur business owner community. The gay, lesbian, bisexual, transgender and queer community face obstacles in the form of prejudice and exclusion. This bias has real business implications as limited access to capital to launch or grow their business, lack of mentors in many fields of business as most start-ups need along with other resources generally taken for granted.

LGBT business owners contribute over $1.7 trillion to the U.S. economy. LGBT business owners are innovators, job creators, taxpayers, and providers of essential services in the communities they serve.

Reps. Clarke and Velazquez, both from New York, who serve on the House Committee on Small Business, wrote a letter to SBA Administrator Linda McMahon soon after their disappearance inquiring about the reason for their removal from the SBA site. In August 2017 SBA officials promised the committee members the agency’s site was under construction “with strategies to launch the pages with a focus on LGBT business owners in the not too distant future,” reported Representatives Velazquez and Clarke.

Roma Daravi, the SBA’s acting press secretary, said: “SBA is an inclusive agency, proud to support all small businesses including the LGBT community.”

Terry Sutherland, the SBA’s media office manager, said “As you’d expect with any new government coming into office, government sites go through a review and reconstruction. the national as more policies have been developed the sites will soon be populated with much more info.”SBA - LGBT Business Onwer Page Added May 17 2018 - OutBuro - Employer Reviews Rating Gay Networking Professional Lesbian Entrepreneur Bisexual Transgender Queer Network Community

Beneficial or Lame?

So now a full year and a half after the removal of the SBA LGBT Small Business Page, the site due to Reps. Clarke and Velazquez pressure is back up. It took 17 months to create their page.  When the page appears to have taken a mere 17 minutes to type and post at most. This basic and scant content didn’t require a “strategy” to develop. That is clear.

Of the 77 LGBT Chambers of Commerce & Business Alliances Supporting Entrepreneurs OutBüro is aware of in the United States, the SBA site lists that it has a partnership with 6. That’s roughly 7.5% of the easily found known and in active LGBT Chambers of Commerce organizations in the United States.

Maybe the SBA in hast to put anything out they just slapped this together in 17 minutes. They could have taken another 2 minutes to put a sentence staying this is a growing list and ask the public to submit additional resources. Something. Anything to make this not come across as pathetic.  They simply provide an email for more information – ([email protected]).

Take Charge

We cannot wait or rely on the SBA to provide our community with the resources it needs. You can join the OutBüro community for free and begin leveraging the business and professional oriented content to build your knowledge and spark ideas.

Leverage the growing OutBüro community to network with other professionals and entrepreneurs. Add your company/organization to the Company Rating system as an additional internet business citation (SEO). Invite your employees to rate your business.

Use the OutBüro Job Portal to advertise your jobs to attract quality LGBT candidates.

We also need people just like you to share your professional and entrepreneur knowledge with the community. As a Premium member, you may submit articles as an author that become part of the OutBüro blog. You may promote your business/organization products and service as well as provide industry knowledge setting you apart as an authority.

Let’s Lead

Here at OutBüro w,e are actively compiling resource listings for LGBT entrepreneurs, professionals and students. Yes, it’s intensive work. When reviewing them if you find any information that needs correction or are aware of a resource not listed, please use the Contact Us form found under the Support menu and just drop us a quick message with a link to the company/organization main website or primary social media account.

In the works:

Are you aware of any company/organization that fits those categories or other suggestions? Please use the Contact Us form found under the Support menu and just drop us a quick message. We’d love to consider your ideas and contribution.

Note that we’re striving to provide global information. So anywhere in the world, you are and/or aware of please help build the resource lists by contacting us.