Women-owned businesses (2024)

FAQs

Why is it important to be a woman-owned business? ›

Women-owned businesses are essential not only for their economic impact but also for the values they embody. Women tend to prioritize social responsibility, community involvement, and diversity in their businesses, which can lead to a more equitable and sustainable future for all.

Women who run their own businesses generate 10% more revenue in five years than men do, according to Boston Consulting Group analysis—a boon for the economy.

In America, the number of women-owned businesses has increased 114% Women start approximately 849 new businesses every single day in the United States and this number is increasing. Over the past two decades, the amount of women-owned firms has increased 114%.

How many women-owned businesses are there in the U.S.? Women are now majority owners in at least 35 percent of U.S. employer firms. In total, women own 13.8 million businesses employing 10 million workers and generating $3.9 trillion in revenue across the U.S.

Women are not afraid to put the needs of their business ahead of their ego, and that can make a tremendous difference. Although women are usually considered to be more restrained than men, research suggest they are actually more determined and they pursue their goals very seriously.

Average Annual Revenue for women-owned businesses increased 15.5%, from $391,582 in 2022 to $452,446 in 2023. The average revenue gap in 2023, between women-owned and men-owned businesses was $237,503, a 34% difference.

When more women are empowered to lead, everyone benefits. Decades of studies show women leaders help increase productivity, enhance collaboration, inspire organizational dedication, and improve fairness. Despite these benefits, only 10% of Fortune 500 companies are led by women.

In 2021, the United States was the leading country in the world in terms of supporting female entrepreneurship. The country scored 69.9 index points, with New Zealand and Canada close behind.

What big company is owned by a woman? ›

Tech companies like Bumble, Eventbrite, and Cisco are all women-led, billion-dollar businesses. Fashion and beauty companies like Glossier, Rent the Runway, and Spanx are also great examples. Visit Business Insider's homepage for more stories.

Some 30% of the businesses created by women failed last year, compared to 58% of projects started by men.

Despite representing half the world's population, women and girls still face inequalities that stifle social and economic progress. Women are one-half of the world's population but only contribute to 37 percent of the global GDP.

From 2019 to 2023, women-owned businesses' growth rate outpaced the rate of men's 94.3% for number of firms, 252.8% for employment, and 82.0% for revenue.

When women are included in the workplace, they bring new ideas, innovative solutions, and alternative viewpoints that can help businesses to think outside the box and make more informed decisions. Another reason for the necessity of women in business is the economic benefit.

As a WBENC-Certified WBE, you have access to exclusive programs and resources designed to help you and your business grow and thrive. This includes: Tailored educational programming to support capacity development. Business and leadership development programs.

Not only does a business receive a tax break, but they also may be able to take advantage of reduced tax liabilities if minority vendors and suppliers are being used for federal- or state-funded grants or loans.

The same study demonstrated that organizations with female CEOs have more success producing "superior stock price performance, compared with the market average." And in their first two years in the CEO role, these women's companies saw a "20% boost in stock price momentum."