Women now own nearly one-third of privately held businesses in the U.S. These businesses account for nearly one of seven jobs at privately held businesses and one of every 16 overall, according to the 2015 “State of Women-Owned Businesses Report” from American Express OPEN.
The number of women-owned businesses (WOB) rose by 74% between 1997 and 2015 while the total number of U.S. businesses increased 51% over that period. However, WOB remain comparatively small in size, accounting for only 6% of the nation’s workforce and 4% of business revenues. Both are roughly the same shares WOB held in 1997, American Express reports
Still, it’s worth noting that over the past eight years, 38% of net new U.S. firms have been women-owned. The daily growth rate of new WOB was 602 in 2011 and 1,288 in 2013-14 before settling a bit at 887 in 2014-15.
The majority (484) of those 887 WOB launched per day in 2014 were owned by minority women, who have become the fastest growing segment of American entrepreneurs. Nearly half of these women are African American.
The complete American Express OPEN report can be found here. Resources for women who are or who want to be entrepreneurs can be found on GlassCeiling.com. Step up.