It should come as no surprise that the rate at which women-owned businesses are coming into fruition, continues to grow exponentially. Based upon the 2013 Women Owned Business Report, Commissioned by American Express Open, a summary of important trends amongst women-owned businesses from 1997 – 2013 was established.
Here are three important facts you should know about women-owned businesses:
1) As of 2013, the number of firms owned by women of color has skyrocketed to an estimated 2,677,700, and now comprises 31 percent of women-owned firms. In 1997, there were just under 1 million firms owned by women of color, accounting for just 17 percent of women-owned firms.
2) When looking specifically at the 2007-2013 period, the net increase of 5.3 million jobs economy-wide has come almost entirely from very large public corporations and women-owned firms.
3) The states in which growth in the number, employment, and revenues of women-owned firms has been the strongest are the District of Columbia, North Dakota, Nevada, Wyoming and Georgia.
It is exciting to witness the growth made in female owned businesses in the United States, and specifically those amongst women of color. If you are a female business owner, please find the full report here and continue to follow all updates via Twitter through #poweringtomorrow.
Rashida Maples, Esq. is Founder and Managing Partner of J. Maples & Associates (www.jmaplesandassociates.com). She has practiced Entertainment, Real Estate and Small Business Law for 9 years, handling both transactional and litigation matters. Her clients include R&B Artists Bilal and Olivia, NFL Superstar Ray Lewis, Fashion Powerhouse Harlem’s Fashion Row and Hirschfeld Properties, LLC.
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