Attention all womenablers – updated intelligence on the state of women-owned businesses in the US is now available. The 2012 State of Women-Owned Businesses Report, commissioned by American Express OPEN and prepared by Womenable, reveals that:
- As of 2012, it is estimated that there are over 8.3 million women-owned businesses in the United States, generating nearly $1.3 trillion in revenues and employing 7.7 million people;
- Comparing trends in the number and revenue accomplishments of women-owned and all firms by industries finds that women-owned firms are exceeding overall sector growth in seven of the 13 most populous industries, and there are several industries in which women business owners are standing toe to toe with their competitors in terms of revenue accomplishments;
- How women-owned firms are faring depends on whether the point of comparison is all firms or all privately-held firms. Women-owned firms are holding their own, meeting or exceeding average revenue and employment growth, when compared to all privately-held firms – falling short only when their growth is compared to the very largest publicly-traded firms; and finally
- While we learned last year that the growth of women-owned firms falters as they reach the 100-employee threshold and the million-dollar mark, a new analysis shows that the relative strength of million-dollar women-owned firms is greater now than it was a decade ago. Further, we may be losing a full accounting of the economic clout of women-led firms as they “outgrow” the 51%+ definition of being women-owned.
The 73-page report also contains state-level data as well as information on the 25 most populous metropolitan areas in the country. Learn more about this new must-have report, and download a copy for your womenabling reference shelf, at the link above. More blogposts will soon be available on OPENforum.com. You may also wish to read the study news release on BusinessWire, and read the lead article covering the study which appeared in the Wall Street Journal.