According to a recent study by the Center for Women’s Business Research (Oct. 2009), US women-owned firms generate $3 trillion in revenue annually. This equates to more than 23 million jobs, or 16 percent of all US jobs! To get an idea of the magnitude of this, if US based women-owned businesses were their own country, they would have the 5th largest GDP in the world! Think about that–that is larger than France, UK and Italy.
What does this mean? It means that women-owned businesses aren’t the small time player that they are often portrayed as. Instead, this shows women entrepreneur’s play a major role in the US economy. Not only that, Women-owned businesses continue to grow twice as fast as all businesses and have been doing so for almost thirty years, noted this study.
There is always power in numbers and the Center’s study demonstrates for the first time the significance of the impact that women play in today’s economy. From this, we may start to see more policy changes and programs for women entrepreneurs.
For more info on the Center for Women’s Business Research and this study.
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