Most American executives are accustomed to women in the C suite. Europeans? Not so much. Just ask Therese Tucker, who is expanding her software business, $16 million Woodland Hills based BlackLine Systems, to Europe this month. At a recent dinner in Brussels, all eyes were on her head of sales — a man. Then one of the potential customers turned to Tucker and asked, “So what is it you do at BlackLine?” When she told him she was the founder and CEO, he nearly fell off his chair, Tucker said. “He spent the rest of the night apologizing.” Such reactions to women business owners are gradually fading and even Tucker admits that the awkward incidents are getting fewer and farther in between. “I find it mostly just funny when it happens,” she said. “It’s more common in Europe.” Stateside, and here in the San Fernando Valley, women-owned businesses are growing in number and size. According to the recently released 2012 American Express State of Women Owned Businesses Report, there are an estimated 8.3 million women-owned businesses in the U.S., generating $1.3 trillion in revenue and employing 7.7 million people. Here in the San Fernando Valley region, women-owned companies employed more than 2,500 people, according to the San Fernando Valley Business Journal’s List of the Valley’s Largest Women-Owned Businesses. Some 40 companies made the list. To qualify, a business had to be at least 51 percent woman-owned and employ at least five people. For the second year, the largest woman-owned company was Mary Harrigan’s STONEFIRE Grill Inc., which together with Harrigan’s other business, Rattler’s Bar B Que, employed 700 people, 550 of them in the Valley. The second enterprise on the list, the same as last year, was International Laser Group with $50 million in sales and 500 employees companywide, up from 400 a year ago. The company makes imaging supplies such as laser toners and cartridges. Maria’s Italian Kitchen, once again, came in third with $16.7 million in revenue and 440 employees, 213 of them in the Valley. CEO Madelyn Alfano said 2011 was still a tough year as consumers cut back on dining out. But she said the company adjusted by keeping staffing lean. “I took on the marketing job and our chef covered some of the shifts. We rolled up our sleeves to be as efficient as possible,” Alfano said. Sales grew 3 percent, she said, which was not bad given the economy. “Flat is the new up,” she said. Alfano said women-owned businesses still struggle, especially when it comes to obtaining capital for expansion. “I have a very long track record in the business, but when I want to borrow money, I still have to sign a personal guarantee,” she said. Montrose Travel is a newcomer to the list this year. At $135 million, the company generated more revenue than anyone else who chose to disclose sales figures. The travel agency is 75 percent woman-owned and headed by sisters-in-law Andi McClure-Mysza and Julie McClure, who serve as co-president and CFO respectively. BlackLine systems moved into sixth place this year, up from No. 9 a year ago, thanks to aggressive growth. The company, which makes account reconciliation and financial close software, listed $15.7 million in sales in 2011. This year, it expects to book $28 million as companies from AT&T to United Healthcare are snapping up the company’s “software as a service” offerings, said CEO Tucker, who founded the company and owns a majority stake. Tucker said the one thing she laments is that there aren’t more female entrepreneurs in technology. She blames it on the way computer science is taught at universities. “It’s horrible,” she said. “Women are problem solvers. But the way it’s taught in school, it just doesn’t appeal to women. If they only saw how cool it was to take technology and solve business problems with it, there would be far more women in computer science.” It’s a problem because, as a growing technology company, she simply can’t find enough women programmers and computer engineers. She is now looking for someone to head BlackLine’s Europe/Middle East/Africa region. “There is not a single woman candidate,” she said. One way she hopes to solve the problem is by mentoring some students at colleges. Deborah Sweeney, owner and CEO of Calabasas-based MyCorporation.com, said it is rare to find a woman at the top at the intersection of the legal and business worlds, where her company plays. MyCorporation helps small businesses incorporate and offers them other ongoing services, such as document storage. Her company, which she bought from Intuit in 2009, is grossing $8 million in revenue. The biggest change since Intuit owned the division, is the need to keep a sharp eye on return on investment, she said. As part of large company, MyCorporation had a good deal of support from other divisions and was able to spend more freely. As a standalone company, Sweeney needs to keep a tight rein on spending. “I wasn’t going to buy the company and then not make a profit,” she said. Download the 2012 LARGEST WOMEN-OWNED BUSINESSES list (pdf)
Valley’s Women-Owned Businesses Strong, Growing
