Women-owned firms employ 16% of US jobs - 23 million people!
3:56 PM October 7, 2009
We have never had information before that relected the overall economic impact of women-owned firms. Today we have it and it reveals the magnitude of importance that small business plays in the overall economy.
Women-owned firms produce employment for more than 23 million people in the United states, or 16% of our 2008 workforce.*. This means that approximately 8% of the total labor force work directly for a woman-owned firm. This is astonishing news.
But what really is remarkable, is that that 80% of the women businesses are NOT employer firms.
What would this mean to our national economic recovery if we increased the number of "employer" firms to 25%? To 30%? How many more people would join the ranks of the employed?
It is time to start focusing on strategies and policies to make this happen. WIPP is asking these questions and addressing these issues directly.
*US Department of Labor, November 2008 national employment figures.
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