Regardless of industry, the world can always use more female entrepreneurs. If you’re on the fence about whether it’s time to start a business, here are a few statistics about women-owned businesses that will give you the confidence to take the next step.
1. 12.3 million women-owned businesses in the US which roughly equals 45% of all US companies.
Check out your IAW community to see who in your network is leading a women-owned business!
2. 80% of women business owners have a college degree, which is more than most entrepreneurs!
Overall, 30% of entrepreneurs only have a high-school diploma, 44% have college degrees, 18% have a master’s degree, and 4% have a Ph.D.
3. 23.17% of Black women in the U.S are starting or running their own businesses.
Women of color were responsible for 89% of newly created businesses in 2019, and businesses owned by women of color generate around $390 billion in revenue.
4. Hispanic women-owned businesses grew by 172% in the last 10 years.
Nationally, Hispanic women own about 1.9 million firms in the U.S, and Latinx-owned businesses currently have an average annual revenue of $1.3 million.
5. Women manage 13% of construction, high-tech manufacturing, and metal industries. 20% of people working in healthcare are employed by women-owned businesses.
6. 59% of women would like funding to grow their business.
Although only 31% who do seek funding are successful, the success rate of crowdfunding for women is 69.5%. Wondering if your business is ready for venture capital? Read all about it on our blog!
7. 56% of companies have women in top executive positions.
Plus, 28% have at least one woman founder and 56% of startups have at least one woman on their board. The amount of startups with programs that increase the number of women executives is 65%.
Support for Women-Owned Businesses
Behind each successful female entrepreneur is a community that supports, mentors, and connects them to amazing opportunities. IAW hosts weekly networking events, has local chapters across the U.S, and is ready to help at any step of your career. To find out which level of membership is right for you, take the quiz and become an IAW member today!