Fast Facts About women Owned Businesses In The U.S.

As the United States celebrates Women's History Month, it's essential to recognize the significant strides made by women entrepreneurs. Recent statistics reveal a surge in women-owned businesses, although they still face hurdles such as funding disparities and gender biases.

According to insights from American Express and Ezoic, women now own 42% of all businesses in the U.S., marking a notable increase in recent years. These businesses contribute significantly to the economy, employing 9.4 million workers and generating a staggering $1.9 trillion in revenues annually.

However, the journey for women entrepreneurs is not without its challenges. Women-owned firms, especially those led by women of color, face unique obstacles. Despite representing 50% of all women-owned businesses, women of color encounter significant disparities in funding and revenue compared to their non-minority counterparts.

Furthermore, the average loan size for women-owned firms is 50% lower than that for male-owned businesses, highlighting ongoing disparities in access to financial resources. Venture capital funding also remains skewed, with only 2.4% allocated to female founders in the U.S.

Moreover, the global pandemic has added additional strain, particularly for women business owners with school-aged children. Thirty-one percent of women entrepreneurs juggle business responsibilities while navigating childcare needs, showcasing the delicate balance required to succeed in challenging times.

Despite these obstacles, women-owned businesses continue to thrive, representing a vital and resilient sector of the economy. As Women's History Month unfolds, it's crucial to champion the accomplishments of women entrepreneurs while advocating for greater support and opportunities to ensure their continued success.

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