Census Data Shows Significant Increase In Women-Owned Businesses
1:09 PM July 14, 2010
The
U.S. Census Bureau has announced the most recent data on women-owned
businesses, and the results are eye-opening. The data was collected as part of
the 2007 Survey of Business Owners (SBO). Although the full report is not
expected to be released until later this year, these preliminary findings offer
valuable input on the status of women-owned businesses.
The data shows the growth and strength of women-owned businesses, and their
contribution to the U.S. economy. Here are some key numbers:
· Between 2002 and
2007, the number of women-owned businesses (51% or more owned by women) has increased
by 20.1% since 2002.
· The total number of
women-owned, nonfarm businesses is 7.8 million.
· Women-owned
businesses accounted for 28.7% of all nonfarm businesses in the U.S.
· Women-owned
businesses employ 6.4% of the total U.S. workforce.
The data speaks for itself. Women-owned businesses play a vital role in the U.S. economy. Although the data does not account for the current economic recession, these numbers show the impact that women-owned businesses have on the economy. A recent survey commissioned by the National Women's Business Council found that the economic impact of women-owned business is $2.86 trillion. In fact, if women business owners were their own country, they would have the 5th largest GDP, ahead of France, the United Kingdom, and Italy.
Leave a comment: