Jade Collins & Alanna Bastin-Byrne
Femeconomy was created when Jade Collins and Alanna Bastin-Byrne considered the enormity of female purchasing power. Empowering female leadership and entrepreneurship, Femeconomy believes that when it comes to business, if females can see it, they can be it.
[Jade Collins] Hi, my name’s Jade...
[Alanna Bastin-Byrne] ...and my name is Alanna and we’re from Femeconomy in Brisbane.
[Jade Collins] At Femeconomy we want women to choose brands with female leaders and create gender equality.
[Alanna Bastin-Byrne] We’ve identified which companies are Femeconomy approved. So they either have 30% women on the board of directors or are 50% female owned.
[Alanna Bastin-Byrne] We have a program called the Femeconomy Connection Program which is funded by the Office for Small Business. Eight regional and rural female business owners and 2 from metropolitan areas are part of this program. We feed all of the government grants to those businesses and to our community so that there’s further amplification and they can access all the great things that the Queensland Government’s providing.
[Alanna Bastin-Byrne] In our first month of operation our reach on website and social media was around 2,000 and then a year later, and consistently every month, it’s over 300,000.
[Jade Collins] I think there's so much values, alignment, purpose and meaning behind what we are doing with Femeconomy, that it is easy to get out of bed and, you know, really be driven to put in an incredible weeks, days, months work and keep going with that.
When Jade Collins realised the enormous purchasing power of women in the Australian economy, she recognised the perfect opportunity to disrupt the status quo and progress gender equality. She discovered that women are responsible for around 85% of all purchasing decisions, equating to nearly $820 billion in the annual Australian economy alone.
With significant experience in corporate HR, Jade was joined by her sister-in-law Alanna Bastin-Byrne, who brought with her a background in international marketing and community development. Together, the women quit the corporate world and formed Femeconomy.com, a for-profit social enterprise.
Femeconomy uses consumer and procurement engagement to promote gender equality. They aim to support and publicise brands with either 30% female board representation or 50% female ownership to boost the female economy. Approximately 2,000 business-to-consumer and business-to-business companies are listed on the site, and more than 900 receive Femeconomy's tick of approval. The site and its social media platforms reach more than 300,000 people each month. Working flexibly and remotely, Jade and Alanna manage their growth through quarterly strategic planning days.
The business-to-business membership of Femeconomy is the fastest growing area of the business. It provides tailored advice and support to female business owners. Femeconomy has also consulted with major gender equality organisations, such as the Workplace Gender Equality Agency, and is establishing international networks in the UK and US.