Happy International Women’s Day, fellow womenablers. Yesterday, at the National Women’s Business Council’s public meeting, Council member Teresa Nelson and I discussed the Council’s just-released analysis of the 2012 women’s business census, The Growth and Development of Women-Owned Enterprises in the United States, 2002-2012.
By now, many of you will know the overarching facts and trends, including:
- Women now own nearly four in ten (36%) businesses in the U.S. These firms number nearly 10 million, employ over 8 million workers, and generate $1.4 trillion in revenues.
- Women-owned firms are growing in number at 2-1/2 times the national average over the 2002-2012 period, and business starts among women have picked up significantly since the recession, even as overall firm formation has stagnated.
- The number of firms owned by women of color is nothing short of phenomenal. In 2002, there were just under 1 million firms owned by women of color; that number stands at nearly 3.8 million just one decade later.
But what you might not know are three other trends that are included in this report. For the first time, the analysis includes a look at female veteran-owned firms, trends in the top 50 most populous metro areas, and a look at trends in some detailed industry categories. We found that:
- There’s been a quadrupling in the number of female veteran-owned businesses just in the past five years, from under 100,000 to nearly 400,000.
- Despite growing industry diversity, nearly one-third of women-owned firms can be found in these four sectors:
- Personal care services (mostly beauty and nail salons): 987,375 women-owned firms
- Other personal services (including pet care/pet sitting/dog walking): 732,352
- Child day care services: 661,630
- Services to buildings and dwellings (mostly janitorial, housecleaning and landscaping/lawn services): 655,943
- Between 2002 and 2012, the number of women-owned firms in Memphis skyrocketed by 160%, compared to national growth of 52%, making the Bluff City the fastest-growing metro area among the 50 most populous cities in the U.S.
These trends and more can be found in the new NWBC report, The Growth and Development of Women-Owned Enterprises in the United States, 2002-2012.