Woman-based businesses are on the rise

Woman-based businesses are on the rise

The economic contributions of woman-owned firms have never been stronger.

Although business creation activity varies over time, women-owned firms have never been stronger.

Women’s enterprise development is sky-rocketing like it has never done in the United States, as of 2016, an American Express OPEN Summary estimated that more than 11.3 million women-owned businesses exist in the U.S., employing more than 8 million people and generating nearly 1.7 trillion dollars in revenue.

These statistics presented in The State of Women-Owned Businesses 2016 indicate that business formation rates in the industry and economic contribution to the country´s economy are stronger than ever, as between 2007 and 2016, women-owned firms increased by 45%, while all other businesses grew just 9 percent; this shows that the indicated industry has grown five times faster than the national average. Employment and revenues also expanded in the woman-bases businesses during the last year, as employment grew 18% and all-business employment declined 1 percent since the 2007 recession. Revenues among woman-owned firms grew 35% compared to the 27 percent among all U.S. firms.

Activity has peaked for the women-owned firms, as they launched or grew notoriously during the past 10 years, however, one of the most important details this positive inflation is the fact that this rise has responded in favor of the country when the economic trends have indicated a lack of employment growth following the 2007-2009 recession that took a powerful blow in the local economy.

The geographic trends presented by the index states that the South has been home to the majority of woman-based businesses, as California, Texas, Florida, New York, Georgia, Illinois, Michigan, Ohio, North Carolina and Pennsylvania. As for the top metropolitan areas for the industry in these states are: New York City, Los Angeles, Miami, Chicago, Atlanta, Dallas, Houston, Detroit, Washington DC and San Francisco.

Consult here the complete report of State of Women-Owned Businesses, 2016.

2017-07-10T05:22:35+00:00

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