NAWBO (National Association of Women Business Owners) shared statistics gathered in 2013 about women owned businesses. The report offers some interesting and encouraging numbers about women in business. Here are just a few of the highlights:
Women Owned Businesses in the United States
- 8.6 million firms are owned by women, employing nearly 7.8 million people, and generating $1.3 trillion in sales as of 2013.
- Women-owned firms (50% or more) account for 30% of all privately held firms and contribute 14% of employment and 11% of revenues.
- Over the past six years, since the depth of the U.S. recession, the only businesses that have provided a net increase in employment are large, publicly traded corporations… and privately held majority women-owned firms. In all other privately held firms, employment has declined over the 2007–2013 period.
Businesses Owned by Women of Color
- 2.7 million firms are majority-owned by women of color in the U.S.
- These firms employ 1.1 million people and generate $226 billion in revenues annually.
Million Dollar Businesses
- One in five firms with revenue of $1 million or more is woman-owned.
- 4.2% of all women-owned firms have revenues of 1 million or more.
To download the entire PDF click on National Women’s Business Council Report 2013
Have you given any thought to owning a business?
You might want to start with the IRS. The IRS provides basic information that you will need from a state, federal and tax perspective. Check out this checklist webpage from the IRS.
Inc. Magazine offers the top 8 industries to consider when thinking about a business and with the exception of health food and translation services, they all involve some form of technology. My how things have changed!
Are you a good candidate for being an entrepreneur? It takes different skills than just being good at something. Work911 put together a checklist of questions to see if owning a business is the right path for you.
Finally, check out the 5 tips for starting a business from Money magazine. It will give you a lot to think about.
Bottom line – the number of women owned businesses is growing and making a huge economic difference in your community and in the world! Bravo.