Since Sheryl Sandberg gave her wonderful TEDtalk about women leaning into their careers two years ago. Many conversations about women entrepreneurs have been had. The number 1 question that is asked very often is, ‘Why aren’t there more women-owned businesses? Last week American Express release their annual report for The State of Women-Owned Businesses and their findings were pleasantly surprising. Here are some key stats:
- The number of Women-Owned Businesses has increased from 41% in 1997 to 59% in 2013
- There are 8.6 million women-owned businesss in the U.S. employing over 7.8 million people.
- These businesses generate over $1.3 trillion a year
- The number of businesses owned by women of color has double since 1997 from 17% to 31% in 2013
- The states with the fastest growth for women are:
This report proves that we are making progress and we have come a long way. Women-owned businesses are making an impact on the economy. Instead of focusing on ther lack of women in corporate America we should start focusing on the women who are already building their own companies.
Photo Credit American Express Open Forum