Celebrating women in business.
Author | Francom, Sarah Ryther |
Position | From the Editor |
When Karma Newberry acquired Wasatch Supply in 2007, she had to prove that she could lead in a male-dominated field. For example, when one of the company's long-time customers heard of the ownership change, he threatened to take his business elsewhere. Newberry took charge of the situation, meeting with him directly to prove she was the right person for the job. "He decided to give us a chance and has since become a great friend and ally in the industry," she says.
Newberry, who is pictured on this issues cover, has since led the Salt Lake-based company to great success, increasing sales by nearly 100 percent last year--not an easy feat considering the construction industry has been greatly impacted by the economy.
Newberry's story of triumph is just one of many in this year's 30 Women to Watch feature. Each honored woman has accomplished much for her affiliated organization. Ranging in industries and titles, these 30 leaders are a testament of the important role that women play in Utah's business community. Read their stories beginning on page 48.
Women's place in business continues to grow on both the national and local fronts, and should not be overlooked. According to the American Express OPEN State of Women-Owned Businesses Report, the number of women-owned businesses throughout the nation grew by 50 percent from 1997 to 2010, which is well above the 34 percent growth rate of small businesses. Today, there are an estimated 8.1 million women-owned businesses, generating nearly $1.3 trillion in revenues and employing 7.7 million Americans, according to the report.
Utah's figures show a similar growth trend; according to the report, the revenues of women-owned businesses in Utah...
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