87% of women business owners are optimistic about the economic outlooks for their businesses this year, which is a 12% increase over 2013 findings, according to the 2014 State of Women-Owned Businesses Report released by the National Association of Women Business Owners. Judging by these five statistics the report produced, they have good reason to be optimistic.
1. There are a lot of women-owned businesses and they employ a lot of people. 10.1 million firms are owned by women (50% or more), employing more than 13 million people, and generating $1.9 trillion in sales as of 2008.
2. A lot of those businesses are majority owned by women. Three quarters of all women-owned businesses are majority owned by women (51% or more), for a total of 7.2 million firms, employing 7.3 million people, and generating $1.1 trillion in sales.
3. They are a huge portion of privately held businesses in the United States. Women-owned firms (50% or more) account for 40% of all privately held firms.
4. Women-owned businesses bring in a lot of revenue. One in five firms with revenue of $1 million or more is woman-owned.
5. Businesses owned by women are gaining on those owned by men. 3% of all women-owned firms have revenues of $1 million or more compared with 6% of men-owned firms.
transFORM is proud to be sponsoring this year’s Women in Business Luncheon from 914INC. The event honors the most enterprising and successful businesswomen in the county at an outstanding luncheon where they can meet the honorees and learn from their successes.
transFORM employs 20 professional women in Westchester County. They are accountants, administrative assistants, art curators, stylists, designers, engineers, and office managers. transFORM is happy to honor and acknowledge the women of transFORM and all of the hard working business women in Westchester County through our support of the Women in Business Luncheon from 914INC.
About the National Association of Women Business Owners
The National Association of Women Business Owners (NAWBO) is the unified voice of America’s more than 10 million women-owned businesses representing the fastest growing segment of the economy. http://www.nawbo.org/