Women Owned Business in the United States

  •     10.1 million firms are owned by women (50% or more), employing more than 13 million people, and generating $1.9 trillion in sales as of 20081.
  •     Three quarters of all women-owned businesses are majority owned by women (51% or more), for a total of 7.2 million firms, employing 7.3 million people, and generating $1.1 trillion in sales1.
  •     Women-owned firms (50% or more) account for 40% of all privately held firms1.
  •     Nearly 30% of women are single when starting their business. The average age of a woman starting a business is 40. Women business owners are more likely to employ a gender-balanced workforce.   (Source: U.S. Census)
  •   While women own 30% of all firms in America, our revenues equal only 4% of all business revenues. (Source: U.S. Census)
  • Women business owners and 50/50-owned firms employ nearly 15.9 million people. (Source: U.S. Census)
  • The start rate of firms by women greatly out paces that of men. (1 ½ times the national average.) (Source: U.S. Census)
  • Women business owners employ 15.9 Americans. (Source: U.S. Census)

Million Dollar Businesses

  •     One in five firms with revenue of $1 million or more is woman-owned1.
  •     3% of all women-owned firms have revenues of $1 million or more compared with 6% of men-owned firms1.

Businesses Owned by Women of Color

  •     1.9 million firms are majority-owned (51% or more) by women of color in the U.S.1
  •     These firms employ 1.2 million people and generate $165 billion in revenues annually1.
  •     Between 2002 and 2008, these firms grew faster than all privately held firms1.
  •    Between 1997 to 2014, these firms jumped 216% from just under one million to approximately 2,934,500 (compared to 68% for all women-owned firms in the same period)2.
  •   Growth in employment (85%) and revenues (168%) of firms owned by women of color topped growth rates of all women-owned firms (10% and 63% respectively)2.

Geographic Trends2
The states with the fastest growth in the number of women-owned firms between 1997 and 2014 are:

1. Georgia (118%)
2. Texas (98%)
3. North Carolina (91%)
4. Nevada (91%)
5. Mississippi (81%)

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 highest 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:

1. North Dakota
2. District of Columbia
3. Nevada
4. Arizona (tied for fourth)
5. Georgia (tied for fourth)

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

Of the 25 most populous metropolitan areas, the cities with the highest combined economic clout for women-owned firms – a measurement averaging the rankings in growth in number, revenues and employment of women-owned businesses from 2002-2014 are:

1. San Antonio, TX
2. Atlanta, GA
3. Baltimore, MD
4. Houston, TX
5. Portland, OR

Of the 25 most populous metropolitan areas, the cities with the lowest combined economic clout for women-owned firms – a measurement averaging rankings in growth in number, revenues and employment of women-owned businesses from 2002-2014 are:

21.  Miami, FL
22.  Boston, MA
23.  Pittsburgh, PA
25.  San Francisco, CA (tied for twenty-fifth)
25.  St. Louis, MO (tied for twenty-fifth)

References
1National Association of Women Business Owners (NAWBO), https://www.nawbodelaware.org/content/women-owned-businesses-statistics

2State of Women-Owned Business Report, commissioned by American Express OPEN, is based on data from the United States Census Bureau, specifically their business census, the Survey of Business Owners (SBO). http://about.americanexpress.com/news/pr/2014/women-flex-economic-muscle-new-research.aspx

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Women entrepreneurs contribute significantly to innovation, competition, and job creation while strengthening the local and world economy. In the U.S., women own over 10.1 million firms compared to 8.6 million in 2013. Employing over 13 million people, they generate $1.9 trillion in sales.
View more facts about women entrepreneurs.
(Source: U.S. Census)