More women own small businesses than ever before and that number is increasing dramatically on a daily basis. With more access to funding and countless opportunities to start businesses from home, women are taking full advantage and diving into entrepreneurship. While there is still a lot of work to be done, there has been tremendous progress over the last few decades. Not only are women succeeding, they are outperforming their male counterparts in many areas and showing they have always belonged. Here we take a look at a few trends and statistics that highlight the advancement of women in small business.
“When I dare to be powerful, to use my strength in the service of my vision, then it becomes less and less important whether I am afraid.” – Audre Lorde
Number Of Women Owned Businesses
“According to the National Association of Women Business Owners, there are a total of 12.3 million women-owned businesses in the US. This number becomes even more astounding when you consider that there were only 402,000 women-owned businesses in 1972.”
Annual Revenue Generated
“Women-owned businesses generated $1.9 trillion in revenue for the U.S. economy in 2019.”
Total Employment
“Over the past five years, Total employment by women-owned businesses rose 8%, while for all businesses the increase was 1.8%.”
Daily Business Openings
“1,817 new women-owned businesses were created per day in the U.S. in 2019.”
Business Growth Rate
“While a 5% growth rate for women-owned businesses might seem a little underwhelming at first glance, consider the fact that it’s more than twice as fast as the growth rate of all other firms.”
Women Of Color
“5.4 million firms are majority-owned by women of color in the U.S. These firms employ 2.1 million people and generate $361 billion in revenues annually.”
Percentage Of Businesses That Are Women Owned
“In 1972 women-owned businesses only represented 4.6% of all businesses. In 2019 they represented 42% of all U.S. businesses.”
Quikstone Capital prides itself on being an equal-opportunity lender, helping dozens of women owned businesses grow and succeed. While women have traditionally had a tougher time qualifying for bank loans and other traditional forms of funding, Quikstone offers an alternative that allows women in business to realize their dreams. A business cash advance is far easier to qualify for and can get the cash you need in your hands when you need it. Click below to apply now!
