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Census Report Shows Strong Growth With Women-owned Businesses

By Small Business Advocate | Wed, 25 Oct 2006

The number of women-owned businesses grew 20 percent between 1997 and 2002, twice as much as the national average. According to the U.S. Census Bureau’s newly released 2002 Survey of Business Owners, women owned 6.5 million businesses in 2002. Women-owned businesses made up nearly 30 percent of non-farm businesses in 2002, and they generated more than $940 billion in revenue, a 15 percent increase over the 1997 level.

About 14 percent of womenowned firms had employees, accounting for more than 7.1 million jobs. Nevertheless, their share of gross revenue was relatively small. While women-owned businesses made up about 30 percent of all businesses, their share of revenue was about 4 percent.

The survey provides considerable detail on the women-owned business sector.

• Nearly one-third of womenowned firms operated in the health care and social assistance fields, as well as other services.
• Women owned 72 percent of all social assistance businesses and just over half of nursing and residential care facilities.
• Wholesale and retail trade accounted for almost 40 percent of women-owned business revenue.
• There were 117,069 womenowned firms with annual receipts of $1 million or more.
• There were 7,240 womenowned firms with 100 employees or more, and they generated $275 billion in gross rceipts.
• The states where the number of women-owned firms grew fastest between 1997 and 2002 were Nevada (43 percent), Georgia (35 percent), Florida (29 percent), and New York (28 percent).
• The counties with the highest number of women-owned firms in 2002 were Los Angeles County, Calif. (265,919); Cook County, Ill. (130,418); Miami-Dade County, Fla. (88,173); New York County, N.Y. (86,364); and Harris County, Texas (86,042).

Related links:

• Small Business Advocate
  The March 2006 issue of the Small Business Administration's advocacy newsletter.