Women in business are a driving force behind the country's thriving economy. The US economy is becoming increasingly reliant on the hard work and dedication of female entrepreneurs.
Women are launching and operating companies at an astounding rate with real competence.
Women-Owned Business Stats You Need to Know
- Women-owned enterprises in the United States create $1.8 trillion every year
- Every day last year around 1,821 net new enterprises were founded by women
- Latina women-owned enterprises increased by more than 87%
- 62% percent of female entrepreneurs say their firm is their principal source of income
- Women-founded firms outpaced men-founded companies by 63 percent
- Between 1997 and 2007 women-owned enterprises generated half a million employees
- While males have a success rate of 61.4% with crowdfunding women are more likely to succeed with 69.5% success rate
- Female entrepreneurs want around $35,000 less in company capital than male entrepreneurs
- Men receive an average loan of $43,916 while women receive an average loan of $38,942
- There are 12.3 million women-owned enterprises in the United States
- Women own 40% of all enterprises in the United States
- Last year women of color launched 64% of new women-owned companies
- There are 114% more female entrepreneurs now than there were 20 years ago
- Women-led private technology firms enjoy a 35% increase in ROI
- Only 25% of female company owners seek business funding
- Women obtain just 7% of venture capital for their enterprises
- Women-owned or led firms received 57.4% of SBA Microloan program loans
Women In Business Statistics: 17 Statistics On Female Entrepreneurs
The statistics paint a picture of a vibrant workforce of female entrepreneurs.
Let's look at the data to see what it says about what women entrepreneurs are accomplishing.
The US Has 12.3 Million Women-Owned Businesses
The National Association of Women Business Owners estimates 12.3 million women-owned enterprises in the United States.
This figure is even more amazing when you realize, that in 1972, there were just 402,000 women-owned enterprises.
Women-Owned Businesses In The US Generate $1.8 Trillion/Year
According to the Women's Business Enterprise National Council firms owned by women generate $1.8 trillion every year. Although that $1.8 trillion represents just 4.3% of overall private sector yearly revenue.
40% Of US Businesses Are Women-Owned
Other WBENC women in business statistics show that four out of every ten enterprises in the United States are women-owned.
Of course, this ratio is still not proportionate to the gender composition of the US population as a whole. But it has gone a long way in the last decade.
Women Started 1,821 Net New Businesses Every Day Last Year
Every day last year, women established a net total of 1,821 new enterprises. This figure which shows the daily increase of women-owned firms helps make it more believable. Women are beginning businesses in groups.
Latina Women-Owned Businesses Grew More Than 87% Between 2007 And 2012
If we zoom in, we can see that the number of Latina women company owners has increased significantly in only five years. This fact helps us identify which community subsects of female entrepreneurs have grown the most.
114% Increase In Female Entrepreneurs From 20 Years Ago
Compared to the number of female entrepreneurs running firms 20 years ago the number of female entrepreneurs running enterprises now has increased by almost 114%. Though there still aren't enough women starting businesses, the times are still changing.
62% Of Women Entrepreneurs Have Their Business As Their Sole Source Of Income
Women-owned enterprises are more than simply side hustles. 62% of female entrepreneurs claim their business as their principal source of income according to Small Firm Trends.
Private Tech Companies Led By Women Achieve 35% Higher ROI
But, at a more granular level, how do women-owned firms fare? According to Forbes, private IT businesses led by females get a 35% greater return on investment than those led by males.
Women Founded Companies Outperformed Companies Founded By Men By 63%
Another Forbes women in business statistic states that female-founded firms beat male-founded enterprises by 63%.
This suggests that a female led firm is more likely to succeed than a male-run rival.
Only 25% Of Female Businesses Get Business Financing.
Female business owners are less likely than male business owners to obtain business loans. Only a quarter of female company owners seek business finance but one third of male business owners do.
It might explain why women-owned enterprises account for only 4.3% of overall private sector income. If more female company owners seek and obtain business funding for expansion prospects then their contribution to US revenue may become more proportionate.
Women Only Get 7% Ventures For Startups
Women-owned startups receiving just 7% of venture financing is a dismal figure. Especially considering the boom of entrepreneurship in the United States. And the critical role of venture capital in this growth. Ideally venture funding for women-owned or led firms will climb in tandem with debt-funded rates for comparable enterprises.
Women In Business Statistics: The Bottom Line
What comes next after you've sifted through 17 of the most startling women in business statistics to date? The answer to this question will vary depending on who you are.
However, if you are a female business owner your next steps will be to evaluate how you might continue to build your company. As more and more women-owned enterprises emerge and thrive, so will the country as a whole.
The more women enter the workforce and start their own business the more they will help other women rise and grow. While many women have broken through the glass ceiling it wouldn't hurt to eliminate it altogether.