Event Spectrum Inc.

Event Spectrum Inc.

January 30, 2006 11:00 ET

Event Spectrum Inc.: Women Entrepreneurs Make Their Mark

TORONTO, ONTARIO--(CCNMatthews - Jan. 30, 2006) -

Event Spectrum Inc. - A Testament To The Power Of Women In Business

The cliche, "behind every great man is a great woman," has been pushed aside, and those great women are stepping forward. According to the Prime Minister's Task Force on women entrepreneurs, more than 821,000 women entrepreneurs in Canada annually contribute in excess of $18 billion to the economy. An increase of more than 200% over the past 20 years makes them Canada's fastest growing business sector.

As women become a major force in today's economic landscape, it is no surprise that four out of five new businesses are started by women. A report released by CIBC entitled, "Women Entrepreneurs: Leading the Charge," estimates that one million Canadian women will own a small business by the year 2010. The number of women-owned businesses is growing 60 percent faster than those run by men. That same study indicates that approximately one in five self-employed women was pushed to go into business for herself because of negative employment circumstances.

When Cynthia Richards, president and co-founder of Event Spectrum Inc.(ESI), began her own business, she "was frustrated by the political corporate challenges of my job at the time. I could never get the integrated programs I was looking for. Establishing my own company was the only way to do things the way I knew they needed to be done." So she began ESI, a full service event management company offering custom incentive programs to major corporations using events as a marketing strategy to communicate internally.

ESI began in 1996 and today it is a major success story. Cynthia Richards and co-founder Zora Kriz, friends since high school, are a shining example of what the statistics declare regarding women entrepreneurs. In 2005, for the third year in a row, ESI ranked on Profit's Top 100 fastest growing companies, and Cynthia was recognized by Chatelaine's Top 100 Women Entrepreneurs. From 1998 to 2003, sales grew by 3,938%, and they continue to grow boasting 100% client retention. With a staff of only 14, their financial success is impressive. Their start-up year in 1997 brought $97,000 in revenue. Revenues for 2004 totalled over $5.4 million!

Now, Cynthia offers complexity management solutions and solid marketing know-how through highly creative and effective incentive programs for such clients as Nissan, Bell/Sympatico and Bombardier Aerospace to name a few. Along with her all-woman team, the focus is on results. "Unlike other firms, we spend a significant amount of time setting up the metrics so that clients understand their return on investment," states Cynthia. "We work with a professional statistician to develop meaningful surveys that discern whether the client event hit the mark. This ROI strategy is key in reviewing the success of any program and allocating budgets for future events"

ESI brilliantly reflects why women entrepreneurs are one of the fastest growing business sectors in Canada today.

For more information on Cynthia Richards and ESI, please contact:

Janine Fawcett - J9 Communications, j9@ontheboards.com, (416) 695-9419

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