FEMALE-OWNED BUSINESSES

FEMALE-OWNED BUSINESSES
Between 1997 and 2002 the number of female-owned businesses grew at twice the rate of all U.S. businesses -- 14 percent, compared with 7 percent.
There are 6.2 million female-owned businesses in the United States.
Female-owned businesses in the United States collectively generate $1.15 trillion in sales, a 40 percent increase since 1997.
Female-owned businesses employ 9.2 million workers, a 30 percent increase since 1997 and 1 1/2-times the growth rate of the national average.
Based on the average number of female-owned businesses, employment and sales, Ohio ranks sixth among the top 10 states; Pennsylvania and Michigan rank seventh.
Of female-owned businesses, 53 percent, or 3.3 million, are in the service sector, which includes business services, engineering services and professionals such as doctors, lawyers and accountants.
Women are diversifying into nontraditional businesses. The greatest growth of female-owned businesses in nontraditional fields is in construction (36 percent), agricultural services (27 percent), and transportation, communications and public utilities (24 percent).
One in six female-owned businesses is owned by a woman of color.
Source: U.S. Census Bureau; National Foundation for Women Business Owners