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Women Are a Growing, Driving Force in the National Economy

More than 11.6 million U.S. firms are owned by women. Those firms employ nearly 9 million people and generate roughly $1.7 trillion in sales. Women-owned firms account for 39% of all privately held firms and contribute 8% of employment and 4.2% of revenues.

 

Women started 1,821 net new businesses every day in 2019, and 64% of new women-owned businesses were started by women of color. Latina women-owned businesses grew more than 87%.

 

One in five firms with revenue of $1 million or more is owned by a woman, and 4.2 % of all women-owned firms have revenues of $1 million or more.

 

Small businesses constitute the majority of women-owned firms, with 99.9% of female-owned employer businesses having fewer than 500 employees.

 

The sectors with the most women-owned businesses were in the health care and social assistance industry (16.9%), followed by professional, scientific and technical services (16.4%), and the retail trade industry (11.7%).

 

From 2014 to 2019, the growth rate for women-owned firms outpaced all firms in the number of firms (21% vs. 9%), employment (8% vs. 1.8%) and revenues (21% vs. 20%).

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