The World of Female Small Business Owners
Female small business owners are slowly on the rise, outpacing male owners in job creation. Here is a look at how the world of female small business owners is growing.
Women in the U.S
Women in business have seen growth quicker than any other business over the last decade. As of 2011, there were over 8 million women owned businesses, generating nearly $1.3 trillion in revenues and employing over 7.5 million people.
The national growth has even seen women owned businesses outpace them by 50%. Women owned businesses account for almost 30% of all enterprises and employ 6% of the total U.S workforce. However, almost all of these businesses employ fewer than 100 people.
Top 10 States for Women Owned Businesses
3. New York
10. North Carolina
Job Creation Drive by Women
According to new studies, women businesses are expected to generate a majority of jobs the next few years. Over half of these businesses will generate up to 57% of the 9.72 million small jobs that the US Labor Statistics expects will be created between 2009 and 2018.
Predominant industries that women focuses in were health care and social assistance, professional, scientific, technical services, retail trade, and administrative, support, waste management, and real estate, rental leasing. A majority of the rest are varied between finance, insurance, food, education, information, wholesale, manufacturing, and other related services.
Men vs. Women Entrepreneurs
The key differences between each gender characteristics are listed below.
• Men have more experience prior to starting a business.
• Men have higher expectations regarding their business.
• Men are more likely spending their effort looking for business opportunities.
• Women are more likely to generate positive revenue.
• Women are less likely to purchase their business.
• Women are more likely to prefer a low risk business.