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Ten Facts About Women-Owned Businesses

Firms Headed By Women Experience Growth and Success

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According to the Center for Women's Business Research, women-owned businesses are booming.

The following ten facts reveal the growth and success of women-owned businesses, particularly those owned by women of color:

1. Women-owned (50% or greater) businesses comprise nearly 10.4 million firms.

2. They employ more than 12.8 million people.

3. Businesses owned by women generate $1.9 trillion in sales.

4. Women-owned firms have grown at approximately twice the rate of all firms.

Over the past two decades, majority women-owned firms have experienced 42% growth as compared to 24% growth for all firms.

5. They account for 41% of all privately held firms.

6. Women of color own 42% of all firms owned by persons of color.

This number is up from 36% in 2004.

7. Businesses owned by women of color employ 1.6 million people.

8. They generate nearly $230 billion in sales each year.

9. Women of color-owned firms grew 5 times faster than all privately held firms.

Between 1997 and 2006, for businesses 51% owned by women of color growth was 120% as compared to 24% for all firms.

10. Of all women-owned firms, Asian women employers have the highest survival rate.

Of those businesses in existence in 1997, 77% were still operating in 2000.

Additional information on technology and business growth, million dollar businesses, women-owned businesses without employees, banking and finance, and exit strategies of women business owners can be found at the Center for Women's Business Research website.

Source:
"Key Facts About Women-Owned Businesses." The Center for Women's Business Research, www.womensbusinessresearch.org, retrieved 27 May 2008.

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