Women's Small Business Ownership Continues to Grow
Women Owned Business on the Rise
Over the last 11 years, the number of women who own small businesses has been on the rise in the U.S. According to the 2018 State of Women-Owned Business Report by American Express, the number of women-owned businesses has grown 58 percent compared to the overall national growth rate of 12 percent for all businesses. There are an estimated 12.3 million women-owned businesses (51 percent or more owned, operated and controlled by a woman). These businesses employ nearly 9.2 million people and generate $1.8 trillion in revenues.
Challenges and Opportunities
Female business owners have worked hard to achieve these results, and their impact on the economy continues to become more significant each year. But many women small business owners still face challenges when it comes to starting, building and growing their own small businesses. The U.S. Small Business Administration has a number of programs and services to help women small business owners launch new businesses and compete in the marketplace. Women small business owners can learn more about these programs and services and connect with training and funding opportunities designed specifically for women at www.sba.gov/business-guide/grow-your-business/women-owned-businesses.
Among those opportunities is a program called Dreambuilderwhich introduces participants to all areas of business ownership through a carefully crafted and engaging curriculum, featured in English and Spanish. At the conclusion of the program, women leave with a business plan to start their own business or develop an existing one.
Looking for more? Visit The Partnership’s Small Business Resource Hub and the Iowa Women’s Business Center at the Iowa Center for Economic Success.