Women-owned small businesses are a vital part of the U.S. economy contributing to job creation and economic growth. Analyzing recent statistics and trends related to women-owned small businesses can help you to set benchmarks and goals for your own business, or understand where you may be performing ahead of the average. These insights offer context that can help you to define a clear strategy for business growth – including how your marketing can contribute to and amplify your efforts.

Overview

• The US has 12.3 million women-owned businesses.¹
• Women own about 43% of small businesses in the US.²
• Women-owned businesses generate $1.8 trillion a year.¹
• In the US, women-owned businesses employ 9.4 million people.³

Funding

Despite owning more than 40% of small businesses in the US, women are at a disadvantage when seeking capital. Women-owned businesses have disproportionately low access to funds:

• Women-owned businesses receive only 4.4% of the total dollar value of all small business loans.¹
• Women-owned businesses receive only 2.3% of venture capital funding.¹

Industry

• The top industries for women-owned businesses are healthcare and social assistance, professional, scientific, and technical services, and retail trade.¹
• Women-owned businesses are growing in industries such as construction, transportation, and warehousing.¹

Demographics

• Fifty percent of all women-owned businesses are minority-owned.¹
• 64% of the businesses started last year by women were started by women of color.⁴
• Female-owned small businesses were 7% more likely to close their business during the COVID-19 pandemic than their male counterparts.⁵

Women-owned small businesses are a significant contributor to the U.S. economy, generating trillions of dollars in revenue and employing millions of people. However, women-owned businesses still face challenges in accessing funding and venture capital. Women-owned businesses are growing in industries traditionally dominated by men, and women of color are driving much of the growth. As we continue to recover from the COVID-19 pandemic, it is essential to support women-owned small businesses and ensure they have access to the resources they need to thrive.

Sources:
[1] The Motley Fool: Women in Small Business Statistics in the US
[2] Mompowerment: Women-owned Business and Mom-owned Business Statistics
[3] Pay.com: 50+ Women in Business Stats: Trends & Improvements in 2023
[4] Fundera Ledger: Women-Owned Businesses: Statistics and Overview
[5] Incfile: 47+ Women in Business Statistics