Women Entrepreneurial Statistics

By MaryAnn Tracy and Nicole Delgrosso

Here are some statistics concerning women in business. As with anything, there is good news and bad news.

First the good news...

• Women-owned businesses are increasing in number, range, diversity and earning power.

• More than $2.38 trillion is annually contributed to the economy from women-owned businesses.

• Businesses owned by women are more likely to remain in business than the average U.S. firm. Almost 3/4 of women-owned firms in 1991 were still in business 3 years later.

 • Home-based women-owned businesses provide full or part-time employment for 14 million people.

• It's safer to work for a woman! Sixty percent of women rated have not put their employees' retirement plan investments at risk, compared to 50% of men.

• Fully 54% of women-owned firms offer flextime or job sharing arrangements as an employee benefit. In men-owned businesses the number of firms offering such arrangements is only 33%.

And here's some good news for women of minority groups...

• Between 1987 and 1996, the number of minority women-owned firms in the U.S. increased by 153%. Employment rose by 276%, and sales rose by 318%.

• Businesses owned by Black women are growing three times faster than the overall rate of business growth.

• Between 1987 and 1996, the number of Black women-owned businesses increased by 135%, employment grew by 70% and sales rose 430%.

• Between 1987 and 1996, the number of Hispanic women-owned firms increased by 206%, employment grew by 487%, and sales rose 534%.

• Between 1987 and 1996, the number of Asian /Other women-owned businesses increased by 138%, employment grew by 319%, and sales rose by 430%.

• The top ten metropolitan areas for minority women-owned firms are Los Angeles, Miami, New York City, Chicago, Houston, Washington, D.C., Orange County, CA., San Francisco, Oakland, and Honolulu.

• Minority women-owned businesses total 1,067,00, employ nearly 1.7 million people, and generate more than $184 billion in sales.