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.
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)
49. Rhode Island
You might also like
What is the current state of female leadership in Rhode Island? In Rhode Island, two long-time prominent CEOs, Connie Howes and Merrill Sherman, are moving onwards in retirement, leaving big
A new report shows more and more women are starting their own businesses. In the Chippewa Valley the number of women-owned businesses is increasing. According to a report by American
An entrepreneur, especially a young one, needs more than just a great idea to get a business off the ground. Funding, mentorship, networking opportunities and a city’s affordability all play pivotal