Businesses Owned by Women Have Unique Characteristics

Most (67%) female business owners choose financial products and services based on their relationship and experience with a lender.

In the United States, 10.4 million businesses are owned by women, employing nearly 13 million people and generate $1.9 trillion in sales (2.4 million of them are owned 50% or more by women of color in the U.S., employing 1.6 million people and generating nearly $230 billion in sales), according to the Center for Women’s Business Research.

Such businesses have seen significant growth: between 1997 and 2006, majority women-owned firms (51% or more women-owned) grew at almost twice the rate of all firms (42% vs. 24%).

Women business owners appear to be highly involved in the operations of their firm: the vast majority (83%) are personally involved in selecting and purchasing technology for their businesses and women owners of firms with revenues of $1 million or higher embrace financial measurements as management tools and produce more financial reports more often than smaller firms.

The Center has released its Key Facts about Women-Owned Businesses — 2007 Update, which provides an overview of the status and significance of the nation’s 10.4 million women-owned businesses. To obtain copies of the fact card, email or call Christopher Clark at 202.638.3060 x 718. The cost is $70.00 per packet of 100.