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At the beginning of 2016, the National Women’s Business Council (NWBC) released the 2015 annual report detailing the current state and progress of women-owned businesses in the U.S. The report identified several breakthroughs for women entrepreneurs, among them the fact that there are 10 million women-owned businesses in the country, these firms employ 8 million workers and generate $1.4 trillion in revenue, between 2002 and 2012 women-owned companies grew at a rate 2.5 times the national average and women entrepreneurs account for 36 percent of all businesses.
Recently, the NWBC published two reports expanding on the characteristics and successes of women-owned firms, The Growth and Development of Women-Owned Enterprises in the United States, 2002 – 2012 and Women-Owned Business by State: 2012 U.S. Census Survey of Business Owners.
Growth and Development
- women launch an average of 928 businesses a day between 2002 and 2012
- 91 percent of women-owned firms have no employee other than the owner
- 82 percent of women-owned firms generate less than $100,000 in revenue per year
- there are 3.8 million firms owned by women of color
- between 2002 and 2012, women-owned businesses grew the most in Georgia, Mississippi and Texas, respectively
- 49 percent of women-owned companies are found in three business sectors: Other Services, Healthcare and Social Assistance and Professional/Scientific/Technical Services
- women-owned businesses are more likely to have achieved $500,000 or more in revenues in five industries: Wholesale Trade, Manufacturing, Accommodation and Food Services, Construction, Transportation and Warehousing
By State
California
- 1,320,085 women-owned businesses
- highest percentage of companies are owned by whites: 598,779 firms
- highest industry for growth is Other Services: 50.4 percent
Hawaii
- 44,453 women-owned businesses
- highest percentage of companies are owned by Asian-Americans: 25,355 firms
- highest industry for growth is Utilities: 100 percent
District of Columbia
- 27,064 women-owned businesses
- highest percentage of companies are owned by Black/African American: 12,434 firms
- highest industry for growth is Utilities: 375 percent
With their advocacy and the awareness they provide regarding women entrepreneurs and their businesses, the NWBC is an invaluable resource for professional women. NAWRB is proud to be a partner of the NWBC and we will continue working together to ensure that the statistics presented above only improve.