American Women Rising in Business

AMERICAN WOMEN RISING IN BUSINESS Women's business ownership is growing. As that continues, certain states are seeing it faster than others. Women also bring certain advantages to the table relative to their male colleagues. STATES WITH THE FASTEST GROWTH IN THE NUMBER OF WOMEN OWNED FIRMS 118% 98% 91% 91% 81% Mississippi Nevada North Carolina Texas Georgia BUSINESSES WITH NO FEMALE BUSINESS PARTNERS OUTWEIGH FEMALE-OWNED 70% to 30% 13% owned by >50% women Businesses owned 17% by <50% women 70% Men WOMEN'S SMALL BUSINESS OWNERSHIP IS GROWING IN THE UNITED STATES, MAINLY IN THE SOUTHEASTERN UNITED STATES. BETWEEN 1997 AND 2014, FEMALE BUSINESS OWNERSHIP INCREASED AT DOUBLE THE RATE OF ALL FIRMS (9% to 17%), AS DID EMPLOYMENT (12% to 24%) 25 20 15 10 FIRMS EMPLOYMENT 9% to 17% 12% to 24% GREATEST PROPORTION OF FEMALE-OWNED BUSINESSES BY STATE A Maryland (32.6%) Washington DC (34.5%) So Georgia (30.9%) New Mexico (31.7%) Hawaii (31%) a CHALLENGES Women-owned Women's networks businesses have tougher are more personal and friendly, so they are less likely to use them to grow their businesses. access to credit and are less profitable than male-owned firms. 29% 32% 18% 29% of women feel they have less access to capital 32% of women feel they have Only one in five women (18%) think they have more access to clients than men do access to new business opportunities ADVANTAGES • Women see multitasking as an advantage and spend more time with their families than men. ЯР 58% to 40% 26% to 16% 17%-12% 59%-55% MULTITASKING CREATIVITY EMPATHY FOR EMPLOYEES BALANCING HOME & FAMILY • Women are more focused on growing their businesses than men. 70% to 66% 68% to 63% 56% to 50% EXPECT REVENUES PLAN GROWTH PLAN TO HIRE NEW EMPLOYEES TO INCREASE IN NEXT 5 YEARS WITHIN THE YEAR Sources: http://about.americanexpress.com/news/pr/2014/women-flex-economic-muscle-new-research.aspx http://www.gallup.com/businessjournal/179024/women-entrepreneurs.aspx http://about.bankofamerica.com/assets/pdf/small-business-infographics/Spring_2014_Small_Business_Owner_Report.pdf Brought to you by: SHIELD FUNDING