What Is The State Of Women Owned Businesses???

 

 

 

 

 

 

 

 

 

 

 

As of 2016, it is estimated that there are now 11.3 million (11,313,900) women-owned businesses in the United States, employing nearly 9 million people (8,976,100) and generating over $1.6 trillion ($1,622,763,800,000) in revenues. Between 2007 and 2016, the number of women-owned firms increased by 45%, compared to just a 9% increase among all businesses. Therefore, over the past nine years, the number of women-owned firms has grown at a rate fully five times faster than the national average.

 

As of 2016, it is estimated that there are now 11.3 million (11,313,900) women-owned businesses in the United States, employing nearly 9 million people (8,976,100) and generating over $1.6 trillion ($1,622,763,800,000) in revenues. Between 2007 and 2016, the number of women-owned firms increased by 45%, compared to just a 9% increase among all businesses. Therefore, over the past nine years, the number of women-owned firms has grown at a rate fully five times faster than the national average.

 

 

As of 2016, there are an estimated 1.9 million African American women-owned firms, employing 376,500 workers and generating $51.4 billion in revenues. Between 2007 and 2016, the number of African American women-owned firms increased by 112% - more than doubling in number and far out shadowing the overall 45% increase among all women-owned firms. African American women-owned firms constitute a 61% majority of African American-owned firms. As of 2016, there are just under 1.9 million Latina-owned firms, employing 550,400 workers and generating $97 billion in revenues. Between 2007 and 2016, the number of Latina-owned firms increased by 137% - the highest increase seen among minority women-owned firms.

 

Latina-owned firms comprise 46% of all Latino-owned firms. As of 2016, there are an estimated 922,700 Asian American women-owned firms, employing 964,900 workers and generating $170.4 billion in revenues. Between 2007 and 2016, the number of Asian American women-owned firms increased by 76%. Asian America As of 2016, there are an estimated 1.9 million African American women-owned firms, employing 376,500 workers and generating $51.4 billion in revenues. Between 2007 and 2016, the number of African American women-owned firms increased by 112% - more than doubling in number and far out shadowing the overall 45% increase among all women-owned firms. African American women-owned firms constitute a 61% majority of African American-owned firms.

 

As of 2016, there are just under 1.9 million Latina-owned firms, employing 550,400 workers and generating $97 billion in revenues. Between 2007 and 2016, the number of Latina-owned firms increased by 137% - the highest increase seen among minority women-owned firms. Latina-owned firms comprise 46% of all Latino-owned firms. As of 2016, there are an estimated 922,700 Asian American women-owned firms, employing 964,900 workers and generating $170.4 billion in revenues. Between 2007 and 2016, the number of Asian American women-owned firms increased by 76%. 

 

After reading this information I was curious to which are the top states and industry that women were opening businesses:  The 10 states home to the greatest number of womenowned firms as of 2016 are: California, Texas, Florida, New York, Georgia, Illinois, Michigan, Ohio, North Carolina, and Pennsylvania. And the top metropolitan areas for women-owned firms, which are found in most of these states, are: New York City, Los Angeles, Miami, Chicago, Atlanta, Dallas, Houston, Detroit, Washington DC, and San Francisco.

 

 

Aside from sheer numbers of women-owned firms, however, it is more interesting to take a look at growth trends over time. In terms of growth in the number of women-owned firms between 2007 and 2016, as stated previously there has been a 45% increase in the number of women-owned firms over the past nine years. The 10 fastest-growing states for women-owned firms in this regard are: Florida (up 67%), Georgia (64%), Texas (63%), Michigan (57%), Mississippi (56%), South Carolina (53%), Tennessee (53%), the District of Columbia (51%), South Dakota (50%), and Louisiana (49%). Eight out of 10 are in the South, and the top five of these states exceed the national growth rate by 10% or more. 

 

I am always so excited to learn how much women-owned business have made a difference in the lives of some many people and in so many ways.  I hope to continue to make a difference too.

 

 

 

 

 

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