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Women-Owned Firms Carry Water in the Nation

    Submitted by Anonymous (not verified) on Sat, 05/22/2010 - 16:38

    Contributing Nearly $3 Trillion to U.S. Economy
     
    Women-owned businesses contribute nearly $3 trillion to our national economy and create or maintain 23 million jobs according to new research conducted by the Center for Women’s Business Research and funded by the National Women’s Business Council and Walmart.

    This report, The Economic Impact of Women-Owned Businesses in the United States, adds to the current understanding of the economic contributions of women-owned firms that to date has relied only on number of firms, revenues and direct employment. For the first time, this research provides a much more comprehensive picture of the total economic impact of women-owned firms, including the impact of the businesses’ purchases AND the purchasing power of their employees and suppliers.

    Major findings include:
    •    Approximately 8% of the total labor force work directly for a woman-owned firm.
    •    If women-owned businesses were their own country, they would have the 5th largest GDP in the world, ahead of countries including France, the United Kingdom, and Italy.
    •    If women-owned businesses were their own country, they would have a greater GDP than Canada, India and Vietnam COMBINED.
    •    Industries where women-owned businesses have the highest revenues include Professional, scientific, technical services; Retail, wholesale; Business services; Communication, media; and Administrative, support, waste remediation. HBM

    For more information on The National Women’s Business Council, visit www.nwbc.gov. For more information on The Center for Women’s Business Research, visit www.womensbusinessresearch.org.

    Previously published in the April 2010 issue of HOME BUSINESS® Magazine, an international publication for the growing and dynamic home-based market. Available on newsstands, in bookstores and chain stores, and via subscriptions ($19.00 for 1 year, six issues). Visit www.homebusinessmag.com

    v17-2 Add: 05/10
     

     

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