I've been doing research on trends and some forecasting and I ran across a few articles on myths and factoids about women owned businesses. Here are 10 facts below which were gathered by The Block Group and American Express blogs. Enjoy!
1. - In the past 15 years, the number of women-owned businesses grew by 54%; there are now 8.3 million women-owned businesses in the United States.
2. - Despite owning nearly 30% of U.S. businesses, women attract only 5% of the nation's equity capital. When it comes to first-year funding, women receive 80% less capital than men.
3. - Women-owned businesses employ 7.7 million people. That's 40% more people than three largest employers, McDonald's, IBM and Wal-Mart combined.
5. - The industries with the fastest growth and greatest share of women-owned firms are educational services, health care and social assistance, and entertainment and recreation.
6. - In seven out of 13 of the most populous industries, women-owned firms are exceeding overall growth.
7. - The top states for women-owned businesses are Arizona, Nevada, Wyoming and North Dakota. The top cities are Sacramento, Riverside, San Antonio, Houston, Baltimore and Washington, D.C. ~( No surprise on Baltimore & D.C. )
8. - 2% of women-owned businesses bring in more than $1 million in annual revenue, versus 5% of all firms.
9. - As they reach 5-9 employees or earn $250,000, women-owned businesses experience faltering growth.
10. - Of women-owned businesses, 5.5% used a loan to get started, compared to 10.7% overall