Study: Women-owned firms up 35% in MO since 1997

The number of women-owned businesses is on the rise nationwide and in Missouri, according to the second annual State of Women-Owned Businesses Report, which compares data 1997–2012.
 
Nationwide, 2012 estimates show 8.3 million women-owned firms, up 54 percent from figures in 1997, according to the report, which was commissioned by American Express Open, a payment card issuer for small businesses. The report showed 139,700 women-owned businesses in Missouri, up nearly 35 percent from 1997.

 Employment figures also grew, with an estimated 7.7 million jobs at women-owned firms nationwide in 2012, up nearly 9 percent from 1997. In Missouri, the report showed 142,100 jobs at women-owned companies, up nearly 6 percent from 134,301 from 1997.
 
During the same 15-year period, the number of U.S. businesses increased by 37 percent, meaning that the number of women-owned firms in the country grew 1.5 times the national average, according to a news release from American Express Open.
 
The economic impact of women-owned businesses also is increasing. On a nationwide basis, sales by women-owned firms were nearly $1.3 trillion, based on 2012 estimates, up roughly 58 percent from 1997.  In Missouri, 2012 estimates show sales of $21.9 billion, up 46 percent from 1997.
 
According to the report, Georgia showed the most growth – 95 percent – of women-owned firms since 1997, and Alaska showed the least growth, at 11 percent. The metropolitan areas showing the highest combined economic clout – factoring growth in the number of firms, revenues and employment, were:

• No. 1 - Washington, D.C.;
• No. 2 - San Antonio;
• No. 3 - Houston, Texas; and
• No. 4 (tie) - Baltimore; Riverside, Calif.; and Sacramento, Calif.

The report is based on data from the U.S. Census Bureau’s Survey of Business owners, which is completed every five years in years ending in 2 or 7, the release said.[[In-content Ad]]