The impact of women-owned businesses on the U.S. economy is huge and continues to grow. According to a report from the Small Business Administration’s Office of Advocacy, “Women’s Business Ownership: Data from a Survey of Business Owners” the following data illustrate the enormous impact of women entrepreneurs:
- Women-owned businesses employ over 8.4 million workers and generate $264 billion in payroll.
- Almost all (99.9%) of women-owned businesses are considered small businesses (fewer than 500 employees).
- 36 percent of all businesses are women-owned, and they account for 12 percent of all sales and 15 percent of employment.
- An additional 2.5 million businesses are owned equally by women and men. These businesses account for an added $189 billion in payroll for 6.5 million workers.
- As majority and joint business owners, women entrepreneurs generate $2.5 trillion in sales.
- 59 percent of African-American businesses and 44 percent of Hispanic businesses are owned by women, versus 32 percent of non-Hispanic white businesses.
Women-owned businesses are a key to our nation’s overall economic success, and the trend continues to grow in the coming years.
If you are a woman entrepreneur or if you are thinking about starting your woman-owned business, be sure to download the Small Business Guide for Women by clicking here: DOWNLOAD
