In Commemoration of Women’s History Month
Women Entrepreneurs Making An Impact: Just Look At The Numbers!
Every day a net average of over 1,000 US business are started by women. In the last decade, the number and economic strides of women-owned firms continues to steadily rise at rates rivaling the national average. As of 2016, there were approximately 11.3 million women-owned businesses in the US who generate about $1.6 trillion in revenues. These significant increases could be the result of the recession. Despite historically more challenges than others, women businesses have seen an increase of 45% in comparison to a much smaller number nine years ago.
Geographically speaking, the greatest amount of growth from women-owned firms has occurred in the South. Currently, the states with the greatest numbers in the south include: Florida, Georgia, North Carolina & Texas. Florida is currently leading the pack, up by 67%, when it comes to growth in the number of women-owned firms within the last ten years.
Women-owned firms are spread across pretty much every single sector. However, on average, trends show most businesses are lumped into the following types: Other services (nail and hair salons, home and pet care) about 22%, Health and social assistance (childcare, home health services) about 15%, Professional, Scientific, Technical Services (attorneys, architects, accountants, management consultants) about 13%, and Admin, Support, and Waste Management (janitorial, landscaping, office admin, and travel agencies) about 11%. Just a few of the sectors lagging behind in popularity include businesses focused on construction, transportation, and warehousing. While not as common for women to forerun the business mentioned, they stand head-to-head with other firms in reference to their revenues of $500,000 or more.
March commemorates Women’s History Month. Let’s continue to acknowledge the huge accomplishments of women from the past, present, and future. The statistics in this piece showcase women as the driving force to an improved economy and increased job opportunities. For those interested in recognition of their women-owned business, many organizations specialize in women entrepreneurial advocacy. One for example is, the Women Owned Business Certification in Florida (WBE). You can check out the eligibility requirements and application here. If you have any questions while completing the application process, you can send an email to OSDhel@dms.myflorida.com. As a reference, here are a few more women-centered organizations dedicated to women entrepreneurs: ASTIA, Savor The Success, and Women’s Business Enterprise National Council.
By Nadia Alcide of Simply Sociable
Simply Sociable is a boutique administrative consulting firm that understands the importance of leveraging the internet and technology. Simply Sociable specializes in helping small businesses and entrepreneurs to work on their business instead of in it. Nadia Alcide is the founder and a University of Florida alumni.