According to the State of Women-Owned Businesses Report produced by American Express, women-owned firms now make up 30 percent of all businesses in the U.S.
The number of women-owned firms is now estimated to have surpassed 9.4 million enterprises, generating revenue estimated at nearly $1.5 trillion – an increase of 79 percent since 1997. Women-owned companies now employ over 7.9 million workers (excluding owners), providing one in seven jobs among privately-owned businesses.
CDC Small Business Finance reports in its 2016 Women Mean Business infographic that it has provided women entrepreneurs over $1.5 billion in financing, leading to the creation/retention of more than 32,000 jobs. Recently, the following women-owned businesses benefitted from an injection of new capital from CDC: Casa de Espanol and Sugarbird Sweets & Teas.
Women business owners can quickly find out if they qualify for a low-interest-rate loan by visiting CDC’s prequalification tool. Some cities are considered particularly supportive of women-owned businesses. According to WalletHub’s 2016 Best Cities for Women-Owned Businesses, the Stockton-Lodi area ranked #1 for percentage growth of women-owned businesses. Fresno tied with Bakersfield for #1 in highest average revenue of women-owned businesses and ranked fourth for percentage of employees in women-owned enterprises.