09.29.19

Women making headway

Lisa Green, The Journal Gazette

Excerpt

“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.”

Click here to read full story on JournalGazette.net.

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