Statistics on Asian Women-Owned Businesses
Women-owned businesses make a tremendous contribution to the economy. According to the Center for Women's Business Research's projections, there were an estimated 10.6 million private-held women-owned businesses in the U.S. in 2006, accounting for 40.2% of all businesses in which a woman or women owned at least 50% of the company.
Note: The 10.6 million figure encompasses companies where a woman or women owns at least 50% of the company. When referring to majority women-owned (defined as owning 51 % or more of the company), the number is 7.7 million.
Women of color own one in five women-owned firms and women of all colors are expanding into non-traditional industries. As of 2004, there are an estimated 1.4 million privately-held firms that are owned by women of color.
The following information was taken from the US Bureau of Census, surveys conducted by the Center for Women's Business Research, and data compiled by National Women's Business Council. Please go to their respective sites for more information.
- As of 2006, there are an estimated 7.7 million majority women-owned firms. They employ about 7.2 million workers, and generate $1.1 trillion in sales.
- Between 1997 and 2006, the percent growth in the number of majority women-owned firms was nearly twice that of all U.S firms (42.3% vs. 23.3%).
- Based on number of owner estimates for all multi-owner firms - majority-women-owned firms, equally-owned firms, and majority-men-owned firms - there are an estimated 15.6 million women business owners in the U.S. as of 2002. *
- More than two-thirds (69.0%) of majority women-owned firms are in the service sector. 14.4% are in retail trade, and 7.7% participate in real estate, rental and leasing as of 2004.
- From 1997 to 2006, the greatest growth among women-owned firms has been in: Wholesale trade (283.4% growth); Healthcare and social assistance services (130.0% growth); Arts, entertainment, and recreation services (116.8% growth); and Professional, scientific, and technical services (82.7%).
- Between 1997 and 2004, the number of women and equally-owned firms grew nearly twice as fast - a 17% growth, compared to 9% among all privately-held firms. They employ nearly 20 million - an increase of 24%, compared to 12% among all privately-held firms. Revenues rose by 39% to $2.46 trillion, compared to 34% among all privately-held firms.
- The number of women-owned firms with 100 or more employees showed a big increase of 44% from 1997 to 2000. The number of women-owned firms with $1 million or more in revenue grew by 32%.
- The most explosive growth among women-owned firms is coming from non-traditional industries. Between 1997 and 2004, the number of women-owned firms has grown 57% in construction, 44% in agricultural services, and 38% in transportation/communications.
- The top ten ranking states based on average estimated number of firms, employees and sales in 2004 are California, Texas, Illinois, New York, Florida, Maryland and New Jersey (tied for 6th), Michigan, Virginia, and Ohio.
- Women are entering the global marketplace at a rate equal to that of all US businesses. In 2005, about 13% of women-owned firms are involved in international trade, and the number is constantly growing.
- Many women business owners operate out of their homes. It is estimated (as of 1994), 3.5 million women have home based businesses. Nearly two-thirds (63%) of these firms provide full or part-time employment for 14 million people, in addition to the owner.
- The number of minority women-owned firms increased by an estimated 55% between 1997 and 2004 - over twice the rate of all women-owned firms (23%) and six times the rate of all U.S. firms(9%) during the same period.
* Calculations by the National Women's Business Council. It should be noted that 15.6 million is a mid-point estimate, within a range between 10.3 and 21.2 million. Such a wide range exists due to the wide variety of sources data sources, both within and outside of the U.S. Census Bureau.
Top States for Women-Owned Firms
Industry Distribution of Women-Owned Firms
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