It should come as no surprise that the rate at which women-owned businesses are coming into fruition, continues to grow exponentially. Based upon the 2013 Women Owned Business Report, Commissioned by American Express Open, a summary of important trends amongst women-owned businesses from 1997 – 2013 was established.
Here are three important facts you should know about women-owned businesses:
1) As of 2013, the number of firms owned by women of color has skyrocketed to an estimated 2,677,700, and now comprises 31 percent of women-owned firms. In 1997, there were just under 1 million firms owned by women of color, accounting for just 17 percent of women-owned firms.
2) When looking specifically at the 2007-2013 period, the net increase of 5.3 million jobs economy-wide has come almost entirely from very large public corporations and women-owned firms.