{"id":9941,"date":"2019-10-24T15:20:47","date_gmt":"2019-10-24T12:20:47","guid":{"rendered":"https:\/\/www.become.co\/blog\/?p=9941"},"modified":"2021-01-07T13:17:06","modified_gmt":"2021-01-07T11:17:06","slug":"women-owned-businesses-statistics","status":"publish","type":"post","link":"https:\/\/www.become.co\/blog\/women-owned-businesses-statistics\/","title":{"rendered":"Women-Owned Business: Statistics & Trends in 2021"},"content":{"rendered":"\n\n

Who runs the world?<\/span><\/p>\n

The stats might surprise you!<\/span><\/p>\n

Here, we\u2019ll give you a look at \u2018women in business\u2019 statistics – but before we do, let us just say that the numbers may leave you wide-eyed.<\/span><\/p>\n

Get ready for a surprising journey through female entrepreneurship statistics 2021? Let\u2019s go!<\/span><\/p>\n\n

Women-owned business: 8 key stats<\/span><\/h2>\n

It\u2019s no secret that boss ladies have a rougher road to travel than their male counterparts in many regards, but exactly how wide is the gender gap when it comes to small business? We\u2019ve gathered the top \u2018women in business\u2019 statistics to give you an 8-piece answer to that very question.<\/span><\/p>\n

Check out these 8 <\/b>key statistics<\/b><\/a> about women-owned businesses:<\/b><\/p>\n

    \n
  1. There are approximately 13 million women-owned businesses in the U.S.<\/span><\/li>\n
  2. Women-owned businesses are growing at a rate of 5%<\/span><\/li>\n
  3. Nearly 9 million Americans are employed by women-owned businesses<\/span><\/li>\n
  4. An estimated $1.9 trillion in revenue is produced by women-owned businesses<\/span><\/li>\n
  5. Women-of-color account for nearly 90% of the new women-owned businesses annually<\/span><\/li>\n
  6. Growth rates for minority women-owned businesses are 10%<\/span><\/li>\n
  7. Out of all women-owned firms, roughly 21% are owned by African Americans<\/span><\/li>\n
  8. Average revenue for African American women-owned businesses is less than 20% the average revenue for all women-owned businesses<\/span><\/li>\n<\/ol>\n\n

    1. There are approximately 13 million women-owned businesses in the U.S.<\/span><\/h3>\n

    To put that number into perspective for you, 13 million women-owned businesses comes out to equal roughly 42% of all firms across the United States. There\u2019s no denying that the percentage of female business owners in 2021 is impressive – but their work isn\u2019t finished! That percentage is expected to continue rising over the coming years.<\/span><\/p>\n\n

    2. Women-owned businesses are growing at a rate of 5%<\/span><\/h3>\n

    While a 5% growth rate for women-owned businesses might seem a little underwhelming at first glance, consider the fact that it\u2019s more than twice as fast as the growth rate of all other firms. We can all say we\u2019d like that number to continue increasing, but it\u2019s still something to be proud of – keep it up, ladies!<\/span><\/p>\n\n

    3. Nearly 9 million Americans are employed by women-owned businesses<\/span><\/h3>\n

    It turns out boss lady isn\u2019t just a catchy hashtag; 9 million Americans come out to roughly 8% of all American employees working for women-owned small businesses. If you then include the firms that are owned equally by men and women alike, the percentage of total U.S. employment jumps to 14%.<\/span><\/p>\n\n

    4. An estimated $1.9 trillion in revenue is produced by women-owned businesses<\/span><\/h3>\n

    That\u2019s a significant number in absolute terms, but as part of the larger picture, it\u2019s only about 4.3% of all revenues. That\u2019s about one-tenth the percent of women-owned businesses cited above – definitely something to raise an eyebrow at.<\/span><\/p>\n

    Still, if we look back 40 years, women-owned businesses only produced <\/span>$8.1 billion<\/span><\/a> in revenue (which was 0.3% of all revenue). Women in business statistics have grown significantly, and are projected to continue on that upward trajectory.<\/span><\/p>\n\n

    \"Percentage<\/p>\n\n

    5. Women-of-color account for nearly 90% of the new women-owned businesses annually<\/span><\/h3>\n

    Yes, you read that correctly. Every year, 90% of new women-owned businesses are started by women-of-color. As if that\u2019s not impressive enough on its own, consider the following: only 39% of the U.S. population is composed of women-of-color!<\/span><\/p>\n\n

    6. Growth rates for minority women-owned businesses are 10%<\/span><\/h3>\n

    Once again, a 10% growth annually is impressive on its own. But when you then take into account the fact that the growth rate for minority women-owned businesses is twice as fast as the growth rate of non-minority women-owned businesses, it becomes clearer just how impressive their impact is on the production of new small businesses every year.<\/span><\/p>\n\n

    7. Out of all women-owned firms, roughly 21% are owned by African Americans<\/span><\/h3>\n

    Following non-minority women-owned businesses, African American women-owned businesses make up the second-largest number of firms in the United States. This \u2018women in business\u2019 statistic should make you pause, but for good reason! African American women comprise approximately <\/span>13.7%<\/span><\/a> of all women in the U.S. – so they\u2019re actually overrepresented among all women-owned businesses.<\/span><\/p>\n\n

    8. Average revenue for African American women-owned businesses is less than 20% the average revenue for all women-owned businesses<\/span><\/h3>\n

    Here\u2019s where you should take another pause, and this time for a bit more concerning matter. Of all minority women-owned businesses, African American women-owned businesses show the greatest difference in revenue when compared with all women-owned firms ($24,000 vs. $142,900).<\/span><\/p>\n

    In other words, the average revenue of African American women-owned businesses is lower than that of all other minority groups, including Latinas\/Hispanics, Asian Americans, Native Americans, and Native Hawaiians. Changing that ‘women in business’ statistic will take lots of effort, but should remain a priority in the fight for equality.<\/span><\/p>\n

    \u00a0<\/span><\/p>\n

    [bctt tweet=”#BossLady is more than just a trendy hashtag! 13 million women-owned businesses comes out to equal roughly 42% of all firms across the United States.” username=”Become_co”]<\/p>\n\n

    We truly don\u2019t want to burst your bubble \u2013 but while some of these stats are encouraging for any aspiring female entrepreneur, there\u2019s still quite a ways to go before the playing field is totally level between men and women, and among women of all races and ethnicities.\u00a0<\/span><\/p>\n

    While it\u2019s apparent that the rate of growth of women-owned businesses has been excellent with regards to the number of firms, revenue, and employment, there are still disparities that need to be overcome. If the share of employment (8%) and revenues (4.3%) for women-owned businesses were closer in value to the percentage of female business owners in 2021 (42%), they would undoubtedly make a much greater impact on the economy.<\/span><\/p>\n\n

    Business funding for women-owned businesses<\/span><\/h2>\n

    Putting aside the larger picture of women-owned businesses for a minute, the statistics regarding business loans for women, specifically, are a bit more concerning. Research shows that <\/span>70%<\/span><\/a> of women <\/span>who seek business funding are denied, while male business owners faced better odds. But, that\u2019s just the tip of the iceberg – have a look below at even more \u2018women in business\u2019 statistics.<\/span><\/p>\n\n

    More female entrepreneurship statistics 2021:<\/b><\/p>\n