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DATE & VENUE CHANGE

September 30, 2010
Fattening Up the Bottom Line
at Lindora

bottom line
Co-ed Cocktail Event
Cynthia Graff, CEO, Lindora
Napa Valley Grille, Los Angeles

CLICK HERE to register
20% Discount for Early Registration
through August 31


October 21, 2010
Women in Entertainment:

Rising to the Top of the Industry
entertainment industry
Co-ed Cocktail Event
Debra Langford,
NBC Universal
Additional panelists TBD
UCLA Faculty Center, Los Angeles
Tickets on sale in September


November 18, 2010
Women CEOs in the Food Industry:
Recipes for Success

Recipes for Success
Luncheon Event
Ramona Cappello, Corazonas Foods
Carol Head, Oliver’s Artisan Breads
Jackie Keller, NutriFit

CLICK HERE to register
20% Discount for Early Registration
through October 15


November 30, 2010
Philanthropy Forum:
The Legacy of Women

philanthropy forum
Co-ed Cocktail Event
Betsy Wood Knapp
Sheri Biller
Dallas Price-Van Breda
California NanoSystems Institute
at UCLA

CLICK HERE to register
20% Discount for Early Registration
through September 30

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*Payment of annual membership dues is required to complete your registration.
Articles & News


The Anatomy of an Entrepreneur:
Are Successful Women Entrepreneurs Different From Men?

Authors: J. McGrath Cohoon, Vivek Wadhwa, Lesa Mitchell
May 2010

Entrepreneurs are arguably the most important actors in our economy: the creators of new wealth and new jobs, the inventors of new products and services, and the revolutionizers of society and the economy. Yet despite their centrality, little is known about entrepreneurs: what motivates them, how they emerge, why they succeed. We know even less about who becomes an entrepreneur, and why.

The value of this study is its detailed exploration of men and women entrepreneurs’ motivations, backgrounds, and experiences. The people included in this sample were all successful entrepreneurs, 59 percent of whom had founded two or more companies. The data also identify some small but potentially informative gender differences among successful entrepreneurs.

Click here to read the full study.


Why Are Women-Owned Firms Smaller Than Men-Owned Ones?

MAY 17, 2010
Wall Street Journal
By SHARON G. HADARY

The phenomenal growth of women-owned businesses has made headlines for three decades—women consistently have been launching new enterprises at twice the rate of men, and their growth rates of employment and revenue have outpaced the economy.

So, it is dismaying to see that, despite all this progress, on average, women-owned business are still small compared with businesses owned by men. And while the gap has narrowed, as of 2008—the latest year for which numbers are available—the average revenues of majority women-owned businesses were still only 27% of the average of majority men-owned businesses. 

Click here to read the full article


Broads Circle in the News: Los Angeles Business Journal

Broads Circle is sharply focused on creating high quality revenue connections for its members through our networking events.

Business Minded
Financial adviser puts a premium on women's group staying on topic.
By Richard Clough -  Monday, May 3, 2010  
 
When New York financial adviser Darya Allen-Attar moved to Los Angeles in 2002, she joined a networking group for businesswomen. But she was soon frustrated. 

Men's networking sessions tend to be quick and useful, but Allen-Attar noticed that women tend to socialize more. 

"The conversation that you have as a woman in the business environment very often is not quite as direct and on point as perhaps men in the business world have," she said. "I was feeling really frustrated." 

So, in 2008, inspired by several groups in New York, Allen-Attar started a networking group for women where the focus is clear: It's all about money and power. Called Broads Circle, the group targets senior-level L.A.-area businesswomen with "a proven ability to drive revenue or grow capital." It has about 1,300 people on its mailing list, and 35 dues-paying members. Allen-Attar said the mailing list has grown quickly because the group is open to a mix of industries, which allows richer networking opportunities." 

In effect we're trying to create a group that's not overrun by one group or another," said Allen-Attar, who personally interviews all potential dues-paying members and hopes to boost their number to 100 by year's end. 

And what about networking results? She claimed the group has already led to a number of concrete business opportunities, including for herself. 

"This group has allowed me to get referrals that are very well suited to what I'm trying to do," she said.
 
View this article online by clicking
here


Ernst & Young LLP seeks high-potential women entrepreneurs
for 2010 Ernst & Young Entrepreneurial Winning WomenTM competition

Ernst & YoungNew York, New York - April 19, 2010 - Ernst & Young LLP is calling for applications for its third annual Entrepreneurial Winning Women competition, a program designed to accelerate the growth of high-potential businesses founded by women entrepreneurs.

To obtain an application form, or to nominate a deserving woman entrepreneur,
visit:
www.ey.com/us/entrepreneurialwinningwomen. The application deadline is June 30, 2010.

The Ernst & Young Entrepreneurial Winning Women program identifies and connects a select group of women entrepreneurs with the advisors, resources and insights they need to accelerate the growth of their businesses.  The program is conducted in collaboration with the Women Presidents’ Organization, Women’s Business Enterprise National Council, the Committee of 200 and Babson College.

“Although women are starting businesses at twice the rate of men, they start with much less capital and they don’t grow nearly as large,” noted Maria Pinelli, Americas Director, Strategic Growth Markets, Ernst & Young. “There are many programs focused on helping women start businesses. Our Entrepreneurial Winning Women program targets women entrepreneurs who are already leading successful companies to help them scale up and become market-leaders.”

About Ernst & Young
Ernst & Young is a global leader in assurance, tax, transaction and advisory services. Worldwide, our 144,000 people are united by our shared values and an unwavering commitment to quality. We make a difference by helping our people, our clients and our wider communities achieve their potential. For more information, please visit
www.ey.com.


SPECIAL REPORT FROM MARIA SHRIVER

A Woman's Nation Changes Everything"The Maria Shriver Report: A Woman's Nation Changes Everything", is a study that was done by Maria Shriver and the American Center for Progress describing the dramatic shift of women in the workplace and how it has impacted every facet of our lives. Read the report here.

 


US BANKER: 7TH ANNUAL THE 25 MOST POWERFUL WOMEN IN BANKING
Read the article
here.

US Banker


Member articles may be submitted by any Broads Circle member and will appear in the order they were received. If you are a Broads Circle member and would like to submit an article, please email This e-mail address is being protected from spambots. You need JavaScript enabled to view it  and include the link to your article if it is published online. All articles are subject to approval prior to publishing on this web site.

 

 

Member Articles

Income Tax for Top Earners
May Soon Be Raised

By Dana Goldinger Hollinger, J.D.
As published in the Los Angeles Daily Journal, January 28, 2010

Dana Goldinger HollingerMany of us are consumed by the potential negative effects of “death and estate taxes” because of the estate tax repeal. But what about “life and income taxes?” Shouldn’t we be just as concerned about President Barack Obama’s pledge to raise income-tax rates on top earners?

High-income earners have been hit with a double whammy in the last two years - they have lost money in the stock market and they face the prospect of combined federal and state taxes that exceed 50 percent. My telephones have been ringing off the hook with clients who are justifiably alarmed. Entrepreneurs, business owners, consultants, professional service groups, people with significant real estate portfolios and sole proprietors filing Schedule Cs can and should do something to mitigate the effects of increasing income tax rates.

As a business owner, if you want to survive and thrive you need to take every deduction you can. You need to look at absolutely every opportunity to save money and minimize your taxes. It could make the difference between going out of business and losing everything you have built and worked for, versus surviving the current tough environment with a solid base to build upon.

While the likelihood of retroactive estate tax repeal appears imminent, there will also most likely be an increase in income tax. If earners cannot save because their incomes are being eroded, then the capital base that forms the foundation from which to amass, build and grow an estate will not be a concern. It simply will not exist. Right now earners need to be concerned about further income erosion as the federal government threatens to increase our income taxes. What can they do about it? There are opportunities for high-income earners to realize significant income tax deductions and tax favored asset accumulation using government approved insured defined benefit qualified retirement plans. These plans are of particular interest to those seeking tax deductions beyond their IRA and/or 401(k)/profit sharing plan limits.

Recent changes in pension tax law allow entrepreneurs, business owners, consultants, professional service groups, people with significant real estate portfolios and sole proprietors to make significantly larger contributions to a retirement plan design consisting of both a defined contribution plan (401(k) and profit sharing) and an insured defined benefit pension plan (a retirement plan consisting of managed assets and guaranteed life insurance product). This plan design is attractive for a high-income earner in their early to mid 50s who wants to accelerate retirement savings over a limited time period (five to 10 years). Depending upon age and financial circumstances, high-income earners may contribute $150,000 or more annually in a plan that is fully tax deductible and asset protected.

By way of example, a 52-year-old entrepreneur was contributing $54,500 to her combined 401(k)/profit sharing plan, which is not very attractive for a client making in excess of $500,000 per year. In contrast, her potential income tax deductible contribution into an insured defined benefit pension plan was about $192,000, plus $22,000 to her 401(k), and $14,700 to a profit sharing plan for a total contribution of $228,700. Pursuant to new pension guidelines, eligible employees (if any) are provided a required benefit inside a profit sharing plan that is funded by the company. Life insurance in the plan generally provides more contribution potential for the owner in relationship to the employees.

Professional service groups with clients seeking advice or recommendations about income tax savings need to be aware of the significant potential income tax savings available through a defined benefit plan. These savings could mean the difference between creating wealth and only dreaming about it.

DANA GOLDINGER HOLLINGER J.D. manages Dana Goldinger Group, which focuses primarily on advanced wealth and business succession planning. A former attorney with experience in real estate and finance, she specializes in designing life insurance policies and capital transfer strategies that help to protect and maximize the assets of successful entrepreneurs and other high net worth individuals.

Social media: You at the Helm of Your Own New Starship
By Tracy Olmstead Williams

Social Media, like Global Warming, has now left doubters behind.

According to the brand-ranking database Engagement DB, companies embracing social media grew revenues by 18 percent in the past 12 months. They are Starbucks, Dell, eBay, Google and Microsoft. Brands lagging in new media shrank by 6 percent.

The change is wrenching and exhilarating. Each of the top 25 newspapers in the United States declined in circulation in the first quarter of 2009, except for The Wall Street Journal, which had a gain of .06 percent. Meanwhile, all of us get more news and information than ever, sliced, diced, pushed or aggregated by Web sites, email alerts, blogs, Facebook, Tweets and the socalTECH newsletter you’re reading now.

As a result, new media, and public relations in specific, is more alive with potential than ever in its history. Despite the devastation of our cherished Fourth Estate, a challenge as dire as any to our form of government, social media has brought a new universe of information tools that permit instant analysis of the world marketplace and instant feedback for our every action.

It’s like finding ourselves on the bridge of the Starship Enterprise with Captain Kirk nowhere in sight. Suddenly, like it or not, we’re in command. We must boldly go where no one’s gone before.

Read more...

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