Women in Business: Small Business Statistics You Need to Know
Have you been considering starting a business or expanding your current business as a female entrepreneur or women-owned business?
If you know me, then you know I’m passionate about entrepreneurship. While I love to talk about all businesses in general, what really makes me giddy is discussing businesses owned and operated by women.
Did you know in the US, there are over 1.1M women-owned employer businesses and 99.9% of those are small businesses?*
Ownership of women-owned businesses is growing so if you are also women-owned small business, you are in good company! Some of the states with the highest percentage share of women-owned businesses are Alaska, Missouri and Hawaii (25%). (SBA, 2019)
However, even though the number of business owned and run by women is growing, our revenue numbers still remain stagnant at 12%, maintaining a sales plateau of $1.4T from previous years that have been surveyed. This is speculated to be due to several factors including shorter work weeks and younger business owners, but don’t get too down on these stats though – $1.4 trillion is no drop in the bucket! (SBA, 2019)
What this says to me is that while interest in business ownership is growing, women need more support in strategically growing their businesses. This is critical to sustaining a business long-term. This makes my role as a brand and web designer for women in business that much more rewarding. I know that through working with visionary women, I can not only help them achieve their own goals but also help them contribute to success of women in business overall. This is so inspiring!
Acting Chief Counsel for SBA Advocacy Major Clark III said…
“Women entrepreneurs are an economic powerhouse. Through almost 10 million businesses, they employ over 8 million workers providing $264 billion in payroll. Further research will help show the extent to which their smaller size is the result of owners’ business goals or obstacles to those goals.” (SBA, 2019)
Women are taking the lead in business especially in the healthcare, food, admin, professional and retail sectors which means the future is bright for us small business owners. My big takeaway from these numbers is that whether you own your own shop, serve clients remotely or employe some other combination of products and services there is a seat at the table for you and your business.
Of course, business ownership is not something you should jump into without thorough consideration and planning, however I do fully believe we need more women out there who are rocking it, unapologetically in business with confidence. Don’t let the stats and statistics scare you because I fully believe you have what it takes to leave your mark on the world with your business.
I’ve even rounded up some of my favorite business posts to help you out:
- The #1 Thing Holding Back Your Business Growth
- Asking for A Friend: Do You Really Need a Business Plan?
- Giving Yourself Permission to Fail and Succeed as a Business Owner
- 3 Milestones You Must Hit Before Scaling Your Business
- Mindset, Motivation & Discipline: Why They’re Important in Your Business
- 6 Must-Haves for High-Achieving Female Entrepreneurs
What are your thoughts about women in business? Which of these business stats are you most impacted by? Let me know in the comments! Or if you are looking for someone to help you bring your business brand or website to life, I’d love to chat. Shoot me a message!
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Brand Strategist & Design Consultant
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