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 on the Key Facts About Women-Owned Businesses page 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.
