Number of women-owned businesses increased nearly 3,000% since 1972, according to new research

Number of women-owned businesses increased nearly 3,000% since 1972, according to new research Main Photo

2 Oct 2018


Agralite Arrowhead BENCO Brown Connexus Light and Power Crow Wing Dakota East Central Federated Goodhue Itasca Kandiyohi Lake Country Lake Region McLeod Meeker Mille Lacs Minnesota Valley Nobles North Itasca Redwood Runestone South Central Stearns Electric Steele Todd Wright Hennepin

The Eighth Annual State of Women-Owned Businesses Report, Commissioned by American Express, Finds Women Are Starting an Average of 1,821 Net New U.S. Businesses a Day

Number of Firms Owned by Minority Women Has Grown by Nearly 3 Times That of All Women-Owned Firms Over the Past 11 Years

NEW YORK--()--Women started an average of 1,821 new businesses per day in the U.S. between 2017 and 2018, according to analysis in the 2018 State of Women-Owned Businesses Report, commissioned by American Express (NYSE:AXP). This level of new business formation by women is greater than the daily average during the pre-recession period from 2002 to 2007 (714), the recession and recovery period between 2007 and 2012 (1,143), and the post-recession period between 2012 and 2017 (952).

New this year, the report explores data back to 1972 – the first time the U.S. Census Bureau provided data on minority-owned and women-owned businesses. The analysis shows that over 48 years the number of women-owned businesses increased a dramatic 31 times from 402,000 to 12.3 million in 2018. During that time, employment for these firms grew 40-fold from 230,000 to 9.2 million, and revenues rose from $8.1 billion to $1.8 trillion-- 217 times greater.

Continue to full article