By: The American Express Open Forum
As small-business advocates we set out to discover what was happening among women entrepreneurs and share it with all business owners and advocates. We found that growth by women-owned businesses is surging at a pace faster than that of any other group—over the past 15 years, 1.5 times greater than their other business counterparts. That’s a tremendous accomplishment, and women have reason to celebrate.
Other Side of the Story
But we also learned that’s just half the story. As captured in the infographic below, our study also found that while women are starting and growing new and innovative ventures in droves, many experience growth pains at the 5-to-9 employee and $250,000-to-$499,999 levels. From 1997 to 2002 and from 2007 to 2012, the overall growth rates of women-owned businesses dip at these employee and revenue points. In addition, even though 29 percent of businesses are women-owned, overall those businesses contribute only 4 percent to revenue and 6 percent to employment in the U.S. So while there is much success and progress to be proud of, there is still more we can all do to support today’s women business owners.
April is a writer, budding artist and deep soulful woman who has spent her career protecting women in every way you can imagine (and maybe some you can’t). Read April’s posts and follow her on Google+ and Twitter.
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Hi April,
That is an awesome infographic. I love it when women business owners make it out there. This way we can remove the illusion that business is only for males. I talk with lots of women who want to leave their 9 to 5, yet they aren’t really sure what direction to go. I tell them to do what they are already good at and turn that into a small business.
I know, easier said than done.