It’s Official! Women Are Taking Over Small Businesses

According to a new infographic from Bolt Insurance Agency, women are taking are over small businesses. Small businesses account for more than 99% of employers in the U.S. and female ownership in small businesses increased more than 20% between 2002 and 2007. Women-owned businesses today account for nearly $3 trillion in total economic impact and their influence is expected to continue surging. And this isn’t just happening in the U.S. Brazil and Germany’s female-owned businesses had more than a $2 trillion impact and China came in at an astounding $10 trillion. This means these women-run companies are helping to create 23 million jobs.  By 2018, one third of the 15.3 million jobs will have been created by women.

California, New York and Texas have the highest number of women-owned businesses in the U.S. California came out on top with 1 million businesses. Plus, one in five women-owned businesses have revenue of $1 million-plus. By the numbers, women are looking pretty good! Thank you to our friends at The Jane Dough for finding this awesome infographic.

In other proof that women are starting more businesses, it was recently reported that 22,984 patents were granted to women in 2010, according to a new report from the National Women’s Business Council. That’s up  35% from the previous year, when just 17,061 patents were given to women. NWBC Chair Donna James said, “Patent and trademark ownership often is an indicator of entrepreneurial activity – and historically, women have not been a large segment of this group. A bump in IP ownership could indicate strong growth in women-owned companies. NWBC actively sought out this study because little research has specifically examined women business owners and intellectual property.”

Photo: Dgrilla/Shutterstock.com

 

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