Women making headway
Lisa Green, The Journal Gazette
“Report shows business growth, but more work needed
Women will lead the way in economic growth – if their recent track record as bosses is an indicator.
Consider these statistics covering the past five years for women-owned businesses:
• Their overall number increased 21% to more than 12,943,000 compared with 9% for all businesses.
• The number they employed rose 8% to 9.4 million compared with 1.8% for all businesses.
• Their revenue grew 21% to $1.9 trillion, about the same as the 20% growth for all businesses.
“Because of women’s different perspectives, skills and experiences, they solve problems in new and innovative ways,” said a report American Express released last week. “And, as it turns out, women are often more likely than business owners in general to see a need in the market and to start a company to fill it.”
The 2019 State of Women-Owned Businesses report also lists states with the highest “employment vitality” – measured by employment growth rate and average numbers of employees between 2014 and 2019.
Indiana ranked third, following first-place Maine and Minnesota. Delaware and Virginia tied for fourth, rounding out the top five. Illinois was among the 10 states with the lowest employment vitality.”
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