Did you know that women-owned businesses in the United States employ 40% more people than the top three employers (McDonald’s, IBM, and Walmart) combined? That’s just one of the statistics from the American Express OPEN State of Women-Owned Businesses Report.
In total, 7.7 million people are employed by women-owned businesses in the United States, which is a 9% increase over the past 15 years. However, that equates to just 6% of total employment.
In terms of the fastest growth states for women-owned businesses and where women-owned businesses experience the most economic clout are District of Columbia, Wyoming, and Nevada are in three-way tie for first place followed by Arizona and North Dakota.
Of course, things are far from perfect for women-owned businesses. As Caitlin Berens of Inc.com points out, “Despite high growth rates, the survey held some less cheery news for female entrepreneurs: Woman-owned businesses only contribute 4% of total U.S. business revenues–$1.3 trillion.”
For more details about the study results and the state of women-owned businesses, check out this infographic.
Susan Gunelius
Susan Gunelius is the Founder and Editor-in-Chief of Women on Business. She is a 20-year veteran of the marketing field and has authored ten books about marketing, branding, and social media, including the highly popular 30-Minute Social Media Marketing, Content Marketing for Dummies, Blogging All-in-One for Dummies and Kick-ass Copywriting in 10 Easy Steps. Susan’s marketing-related content can be found on Entrepreneur.com, Forbes.com, MSNBC.com, BusinessWeek.com, and more. Susan is President & CEO of KeySplash Creative, Inc., a marketing communications company. She has worked in corporate marketing roles and through client relationships with AT&T, HSBC, Citibank, Intuit, The New York Times, Cox Communications, and many more large and small companies around the world. Susan also speaks about marketing, branding and social media at events around the world and is frequently interviewed by television, online, radio, and print media organizations about these topics.
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