Venturing into a business requires innovative ideas, constant hard work, and a great deal of discipline. In the past, the majority of businesses were owned by men. However, businesses owned by women have increased by a great number and have become quite common these days.
In addition, women-owned businesses have not only become common, but they happen to have some huge successes. A good number of women have reached great heights venturing into the business sector.
It is not uncommon for women these days to be bold enough to take risks, put plans in motion as well as go ahead with their ideas. Successful women-owned businesses have certainly become an inspiration to others intending to venture into similar careers.
Listed below are 7 incredible facts about women-owned businesses that show their growing success.
- There is an estimated 11.3 million women-owned businesses in the United States.
- Over 9 million people are employed by women-owned firms.
- The top three growth industries for women-owned businesses is educational services, health care/social assistance, and entertainment/recreation.
- The top 3 fastest growing states for women-owned businesses are Florida (up 67%), Georgia (up 64%), and Texas (up 63%) since 2007.
- But the greatest number of women-owned firms can be found in California, Texas, Florida, New York and Georgia.
- Women are the majority owner of approximately 38% of all businesses. This number is up from 29% in 2007.
- An average of about 842 new minority women-owned firms were launched everyday since 2007, with Latina and African American owned firms topping the list.
This feature originally appeared in Personal Income.