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Sunday, August 23, 2015

Women are Taking Over Small Business in the U.S.

Women are Taking Over Small Business in the U.S.
If women-owned businesses are growing at a rate of four times that of men, how long do you think men will continue to own more businesses than women in the U.S.? Something to think about seriously in light or recent statistics released by the U.S. Census Bureau.

The big increase among women

Between 2007 and 2012, the number of women-owned businesses in the U.S. increased by 27.5 percent. When those numbers are broken down by ethnic group the numbers become even more impressive. For example: (numbers based on period 2007 - 2012)

  • White women-owned businesses - increased 10 percent
  • Asian women-owned businesses - increased 44 percent
  • Black women-owned businesses - increased 65 percent
  • Hispanic women-owned businesses - increased 87 percent

Reasons

The reasons vary from minority women forced to create their own businesses in order to survive in a recession, to supplementing the family income, or women who just have a stronger desire to become entrepreneurs. The bottom line is that the reasons are not as important as the resulting numbers. Women-owned businesses are here to stay, and eventually take over.

Read more at money.cnn.com/2015/08/19/smallbusiness/minority-women-entrepreneur/

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