Women are key to the growth of small business in America
Women are key to the growth of small business in America. The Center for Women’s Business Research has compiled the following data on the impact of women in business. Here’s the overall picture based on 2009 data:
- 10.1 million firms are owned by women (50% or more), employing more than 13 million people, and generating $1.9 trillion in sales as of 2008.
- Three quarters of all women-owned businesses are majority owned by women (51% or more), for a total of 7.2 million firms, employing 7.3 million people, and generating $1.1 trillion in sales.
- Women-owned firms (50% or more) account for 40% of all privately held firms.
Businesses Owned by Women of Color
- 1.9 million firms are majority-owned (51% or more) by women of color in the U.S.
- These firms employ 1.2 million people and generate $165 billion in revenues annually.
Million Dollar Businesses
- One in five firms with revenue of $1 million or more is woman-owned.
- 3% of all women-owned firms have revenues of $1 million or more compared with 6% of men-owned firms.