Stitches

Women-Owned Businesses on the Rise

Women-owned firms make up 30% of all U.S. businesses, generating about $1.5 trillion in annual revenue, according to new research commissioned by American Express. Women-owned businesses have surpassed pre-recession levels of revenue and employment growth in many regions, according to the 2015 State of Women-Owned Businesses Report.

Since 1997, 608 net new women-owned firms on average were launched each day, with the rate over the last year at an average of 887 a day.

There are now nearly 9.4 million women-owned firms in the U.S., which employ nearly 7.9 million, according to the report. In the past year, women started 887 net new firms each day, with 55% of those businesses started by minority women. The industries with the highest concentration of women-owned firms are health care and social assistance (53% in this sector owned by women), educational services (45%), other services (42%), and administrative support and waste management services (37%).