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Thursday, February 09, 2006

Article: Boom in women-owned businesses

There is great news about women-owned businesses in this article from Management Issues.

The number of women-owned businesses in the United States grew by 20 per cent between 1997 and 2002, twice the national average for all businesses, according to figures from the U.S. Census Bureau.

The analysis of business ownership revealed that women owned nearly one in three non-farm businesses in the United States in 2002 – some 6.5 million in total.

They also generated more than $940 billion in revenue, an increase of 15 per cent on 1997.

The 2002 Survey of Business Owners (SBO) defines women-owned businesses as privately held firms in which women own 51 per cent or more of the interest or stock of the business.

But while 14 per cent of women-owned firms employed more than 7.1 million people, the vast majority of businesses owned by women (nearly 5.6 million) were one-woman bands that had no employees.

At the other end of the scale, 117,069 women-owned firms turned over $1 million or more, while 7,240 women-owned firms had 100 employees or more, generating $275 billion in gross receipts.

During the time period studied, New York State had the third fastest rate of growth for women-owned firms.


Blogger Cheryl's Office said...

It is great to see more grants and growth in resources supporting women-owned businesses. I recently helped several woman-owned businesses set up new offices. The SBA grants available to women provide great financing terms on purchasing the entire suite of office furniture. Buying from a woman-owned furniture group will not only help you save time and money, but you will gain a design team that will help you create a productive workspace for your organization.

11:29 PM  

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