taketheleadwomen.com - The 11.3 million women-owned firms in this country are performing five times better than the national average of businesses, employing close to 9 million people and generating over $1.6 trillion in revenues, according to the latest American Express OPEN report.
Just to repeat for the record, that was trillion with a “t.”
The greatest growth in these companies owned by women is shown by companies owned by women of color.
In all women-owned businesses, “Comparative employment growth is even stronger. Employment in women-owned businesses has increased by 18 percent since the recession, while among all businesses employment has declined 1 percent since 2007,” the report showed.
While not at parity, women own 38 percent of small businesses in this country and revenues are increasing at a more brisk pace. “Business revenues among women-owned firms have increased by 35 percent since 2007, compared to 27 percent among all U.S. firms – thus at a rate that is 30 percent higher than the national average.”
While overall employment growth across sectors has been stalled, “employment in women-owned firms, which – according to this report – is up 18 percent since 2007 compared to a percent decline among all U.S. firms,” the report shows. Firms owned by women with 50 to 99 employees, have seen a 27 percent increase in employment since 2007.