Women Flexing Their Economic Muscle, Starting More Than 1200 New Businesses Per Day, According to New Research

As daily business creation hits a record pace, the number of women-owned firms reached a new milestone in 2014. The fourth annual report estimates that there are more than 9.1 million women-owned businesses in the United States (compared to 8.6 million in 2013). These businesses generate more than $1.4 trillion in revenues, employ 7.9 million people and account for 30% of all enterprises.

During the past 17 years, women-owned businesses have steadily increased their influence on the U.S. economy. Since 1997 women-owned firms have:

  • increased in number by 68%,
  • grown revenues by 72%, and
  • added 11% more jobs.

With regards to job creation, these businesses have emerged from the recent recession as second only to publicly-traded companies in U.S. with 274,000 net new jobs since 2007.

Geographic Trends

The states with the lowest growth in the number of women-owned businesses between 1997 and 2014 are:

47. Vermont (30%)

48. Kansas (30%)

49. Iowa (23%)

50. West Virginia (23%)

51. Alaska (11%)

The states with the lowest combined economic clout for women-owned firms – a measurement averaging the rankings in growth in number, revenues and employment of women-owned businesses from 1997-2014 are:

46. Kentucky (tied for forty-sixth)

46. Wisconsin (tied for forty-sixth)

48. Ohio

49. Rhode Island

50. Vermont

51. Iowa

Read the full article here

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