Numbers Of Female-owned Businesses Soar
June 29, 1999
Businesses owned by women are playing a much greater role in the economy than they did as recently as the early 1990s, statistics show. Some experts suggest that the relative health of the U.S. economy compared to the economies of other industrialized countries can be traced in part to how we utilize "female human capital."
- Since 1992, the number of people employed nationwide at female-owned firms has grown 108 percent -- to 27.5 million.
- There are now 9.1 million businesses owned by women -- 38 percent of all firms in the U.S. -- according to a report from the National Foundation for Women Business Owners.
- Companies owned by women generate nearly $4 trillion in revenue a year -- up 132 percent since 1992.
- The 10 fastest growing metropolitan areas for female-owned businesses are Portland, Ore.-Vancouver, Wash.; Seattle- Bellevue-Everett, Wash.; Phoenix-Mesa, Ariz.; Houston; Nashville; Miami; Sacramento; Dallas; Orlando; and San Diego.
Observers say that big growth for women-owned businesses can be found in nontraditional areas such as manufacturing, construction and wholesale distribution.
Source: Bill Meyers, "Women Increase Standing as Business Owners," USA Today, June 29, 1999.
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