Women-Led and Women-Owned Businesses Kicking Butt Nationwide
November 26, 2007 by Kristen King
Filed under Business
A recent article from Fortune Small Business reveals that women-led and -owned businesses have been historically underrepresented in analysis of American business.
The economic impact of women business owners has been underestimated because women-led firms have not been recognized, according to a new study released [November 19].
Using 2002 Census data, the most recent figures available, the National Women’s Business Council found that women-led firms accounted for 3% of U.S. Gross Domestic Product in addition to the 9% generated by women-owned businesses.
“We’re hoping this distinction between women-owned and women-led will enter the vernacular now,” says Margaret Barton, executive director of the NWBC, a bi-partisan Federal government council.
The article reports that there are 7.5M women-led or -owned companies with 9.6M employees and revenues approaching $1.2T, which is 12% of the 2002 GDP. Way to represent!
Contents © Copyright 2007 Kristen King
(photo via SXC.hu)
It is great to see more grants and growth in resources supporting women-owned businesses. I recently helped several woman-owned businesses set up new offices. The SBA grants available to women provide great financing terms on purchasing the entire suite of office furniture. Buying from a woman-owned furniture group will not only help you save time and money, but you will gain a design team that will help you create a productive workspace for your organization.