Number of Women-Owned Firms

• In 2008, women accounted for more than 51% of the United States population and nearly 47% of the American labor force. These rates are expected to remain similar for 2010.
• As of 2008, there were an estimated 10.1 million privately-held businesses in which a woman or women owns at least 50% of the company. Among them, 7.2 million were majority-owned (51% or more).
• In 2008, more than one-third of all self-employed individuals were women (3.5 million).
• As of 2008, there were an estimated 1.9 million privately-held firms that were majority-owned by women of color, making up more than a quarter (26.5%) of all majority women-owned businesses. These firms employed nearly 1.2 million people and generated more than $165 billion in revenues.

Growth of Women-Owned Firms

• Between 1997 and 2002, women-owned firms increased their employment by 70,000; whereas, firms owned by men lost 1 million employees. Jointly owned firms lost 2.6 million employees and publicly held and those firms not identified by gender of ownership increased their employment by 10.9 million.
• Between 2002 and 2008, the estimated growth rate for majority women-owned firms was similar to majority men-owned firms in number (11% vs. 12%) and slightly better for employment (2% vs. -1%).
• As strong as the growth of women-owned firms is overall, the growth of firms owned by women of color is even stronger, growing at an estimated 32% between 2002 and 2008. Additionally, employment by these firms increased 27% and revenues grew by 48%.

Source: National Women's Business Council