Women-Owned Businesses Continue to Flourish

Women-Owned Businesses Continue to Flourish

For the fifth year running, Womenable has combined forces with American Express OPEN to analyze trends in women’s enterprise growth and development. The 2015 State of Women-Owned Businesses report (which will soon be published) tells us that:2015 SWOB charts.003

  • The number of women-owned firms in the U.S. continues to climb, and is now estimated to have surpassed 9.4 million enterprises – 30% of all businesses in the country;
  • The revenue generated by these enterprises is now estimated to stand at nearly $1.5 trillion, and has increased by 79% since 1997; and
  • Women-owned firms now employ over 7.9 million workers (excluding owners), providing one in seven jobs among privately-owned businesses.

In fact, since 1997 there have been an average of 608 net new women-owned firms launched each and every day – and the rate just over the past year stands at 887 per day. The number of women-owned firms is increasing at a rate 1-1/2 times the national average.

Where are we seeing these women-owned firms? The short answer – everywhere. Women-owned firms are found in every state and in every industry. The fastest growing industry sector is educational services, which has seen a 67% increase in the number of women-owned firms since 2007 versus an overall 21% increase. And the states seeing the fastest growth in women’s entrepreneurship are Georgia, Texas, North Carolina, North Dakota and New York.women_diverse 900x550

And who’s starting these enterprises? Increasingly, women of every ethnic background. Back in 1997, there were just under 1 million firms owned by non-Caucasian women, representing one in six (17%) women-owned firms. Now, there are an estimated 3.1 million minority women-owned firms, representing one in three (33%) women-owned firms. Indeed, the growth in the number of African American, Asian American, Latina, Native American/Alaska Native and Native Hawaiian/Pacific Islander since 1997 surpasses the growth in the number of non-minority women-owned firms several-fold. The growing diversity of women-owned firms is one of the most remarkable trends of the past decade.

The 2015 State of Women-Owned Businesses Report, like its predecessors, contains a wealth of empowering facts, figures and insights. The full report is being formatted now, but until it’s publicly available, click on the link below to download the summary tables, containing all of the statistics at the national, state, metropolitan, industry and ethnic group level.

Cheers, fellow womenablers!

2015 State of Women-Owned Businesses: Summary Tables

 

New UN Women Report Published

Every five years or so, the United Nations publishes a compendium of facts, statistics and analysis of the status of women around the world. These Progress of the World’s Women reports share statistics related to education, legal justice, social and political empowerment, and economic empowerment. They are truly go-to reports that deserve a spot on every womenabler’s reference shelf.fig.4.6-1

The latest report has recently been published. Transforming Economies, Realizing Rights features an interactive web portal and downloadable chapters, some very detailed (see picture at right) infographics, as well as the full report.

Some of what’s available in this report:

  • A discussion of the negative impact on women’s rights that has resulted from the rise of extremism around the world;
  • The notion that connecting economic and social policy is key to increasing human potential and equal rights (we would agree);
  • Far fewer detailed country-level tables (which we are disappointed by, but they may be archived somewhere); and
  • A listing of ten priorities for public action, including “create more and better jobs for women” (but no mention of economic empowerment through entrepreneurship).

For a list and links to past reports on the Progress of the World’s Women, visit Womenable’s Womenabler Reference Library page. or UN Women’s Progress of the World’s Women page. Finally, here’s a handy link to the 2015 report Executive Summary.