Thursday, June 26, 2014
Cities With the Highest and Lowest Number of Firms Owned By Women of Color
What the 2014 Report shows
As of 2014, the number of women-owned businesses have increased at a rate that is 1.5 times the national average growth rate for businesses over the past 17 years. The number of women-owned businesses in the U.S. increased from 8.6 million in 2013 to 9.1 million in 2014. Since 1997, their businesses have increased by 68 percent, their revenues have grown 72 percent, and they have increased jobs by 11 percent.
Greatest increase is by women of color
But the greatest growth has been among women of color. From 1997 to 2014, the number of firms owned by women of color has increased by a phenomenal 216 percent.
States with the fastest growth rate by women of color:
1. Georgia - 118 percent
2. Texas - 98 percent
3. North Carolina - 91 percent
4. Nevada - 91 percent
5. Mississippi - 81 percent
States with the lowest growth rate by women of color:
1. Vermont - 30 percent
2. Kansas - 30 percent
3. Iowa - 23 percent
4. West Virginia - 23 percent
5. Alaska - 11 percent
The numbers reflect data from American Express OPEN over the period from 1997 to 2014.