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Monday, January 20, 2014

Top 5 States with the Fastest-Growing Women-Owned Businesses


Women-owned businesses are the fastest growing businesses in the country. In the past 16 years, they have grown an average of 59 percent. But in some states, the growth is much larger than the national average. Here are some impressive examples.

States with most growth in women-owned businesses
  1. Georgia - 112 percent
  2. Texas - 93 percent
  3. North Carolina - 91 percent
  4. Louisiana - 94 percent
  5. Nevada - 84 percent
In contrast, the states with the lowest growth rates are Alaska, West Virginia, Iowa, Ohio and Kansas.

Growth in minority women-owned businesses

According to the 2013 State of Women-Owned Businesses Report, next to publicly-traded firms, women-owned businesses are responsible for creating the largest number of jobs since 2007. The largest growth in women-owned businesses, according to the same report, is among minority women. African-American women increased by 258 percent, Asian women by 156 percent, Latino women up 180 percent, Native American and Alaskan Native women grew by 108 percent, and Native Hawaiian/Pacific Islander women-owned businesses grew 216 percent.

Women-owned firms represent a very important part of the economy with steady growth even during tough economic times. In 2013, there were an estimated 8.6 million women-owned businesses in the United States generating nearly $1.3 trillion in revenues.
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