Earlier this quarter, the Women’s Entrepreneurship Report was released focusing on women owned businesses and if they are as likely to succeed with similar support structures. The report revealed as much showing that “among mentored businesses, women-owned businesses are as successful as men-owned businesses as measured by business starts, revenue growth, job creation, and number of years in business.”
Women-owned businesses currently make up 39% of the 28 million identified small businesses in America, accounting for $1.6 trillion in revenue and employing close to 9 million people. Despite this number, women led businesses account for only 4% of America’s business returns which “hasn’t really budged in the past 20 years.” This may be due to the fact that, by in large, women owned businesses are not supported at a similar rate as male owned businesses. In addition, 93% of women owned businesses generate an annual revenue of less than $1 million.
The report came from qualitative and quantitative data gathered by PricewaterhouseCoopers as part of SCORE’s ninth annual Client Engagement Survey. The survey was carried out from October 30 to December 1, 2017 with responses collected from 25,117 small business owners. Responses from 12,091 female and 8,416 male entrepreneurs were analyzed for the final report. The businesses were composed of a broad segment of industries and geographical locations representing all 50 states and Washington, D.C.