The State of Women-Owned Businesses

The latest economic data from the U.S. Census Bureau shows the number of women-owned businesses grew by a much faster rate than businesses owned by men between 2002 and 2007. But there are still far fewer female-owned enterprises, and they generate much less in revenue than male-owned businesses, said the new survey that tracked changes in women-owned businesses between 2002 and 2007.

“Women business owners have come a long way … but still have a way to go,” said Rebecca Blank, acting deputy secretary of the U.S. Department of Commerce during a conference call in which the Census Bureau released the data. “Women are still less likely to be entrepreneurs, and their businesses tend to be smaller.”

According to the survey, there were 7.8 million women-owned businesses in the United States in 2007, up 20 percent from 2002. The female-owned firms accounted for 28.7 percent of all firms nationwide compared with 13.9 million businesses owned by men that accounted for 51.3 percent of all businesses in the United States.

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