Women: America's New Job Creators

BOLTA INSURANCE AGENCY www.BoltInsurance.com Women America's New Job Creators More and more American women are taking their careers into their own hands and opening small businesses. Small businesses account for more than 99 percent of employers in the U.S., and female ownership in small business increased more than 20 percent between 2002 and 2007. Female-owmed businesses today account for nearly $4 trillion in total economic impact, and their influence is expected to continue surging. SMALL BUSINESSES OWNED BY WOMEN In 2007, at least 7.8million BUSINESSES WERE MAJORITY- OWNED BY WWOMEN; that's almost 30 percent of non-farm business. TOTAL ECONOMIC IMPACT United States United Kingdom European Union Russia Japan $14.6 TRILLION $2.1 $14.8 2.2 TRILLION $4.3 TRILLION TRILLION TRILLION FEMALE-OWNED BUSINESSES IN THE U.S. Germany India China $2.8 $2.9 TRILLION $4 TRILLION $10 TRILLION Brazil $2.1 TRILLION TRILLION 1in5: Firms with revenue " of $1 million-plus 1 are owned by a woman JOBS 23 million: JOBS PRODUCED OR MAINTAINED That's more than the population of about 180 nations around the world, including New Zealand... ..the Netherlands... and Ireland combined. INDUSTRIES BY PERCENTAGE The industry sectors with the highest concentrations of female business owners: 10.8% 11% Administrative, Business services support, waste remediation 7.7% 14.4% Communication, media Other 6.2% 13.4% Financial, real estate, Retail, insurance wholesale 8.6% Health care, social assistance 20.9% 7% Professional, scientific, technical services Personal services GEOGRAPHY California, Texas and New York have the highest numbers of women-owned businesses among the 50 states. 594,421 $84 million 1 businesses businesses $181 billion billion receipts receipts 610,162 $96.3 businesses billion receipts GAINING GROUND 20.1% INCREASE IN FEMALE-OWNED BUSINESSES FROM 2002-2007; 5.4% INCREASE IN MALE-OWNED BUSINESSES DURING SAME TIME PERIOD. GENDER INEQUITY Though women are making gains as small-business owners, they still lag behind men in income rates. NON SELF-EMPLOYED SELF-EMPLOYED WOMEN (INCLUDING SMALL-BUSINESS OWNERS) MAKE ABOUT WOMEN MAKE ABOUT 55% 77% OF WHAT THEIR OF THEIR SELF-EMPLOYED MALE PEERS MAKE. MALE COUNTERPARTS [$] PROJECTIONS FEMALE-OWNED SMALL BUSINESSES WILL CREATE ONE-THIRD OF THE 15.3million NEW JOBS BY 2018. www.BoltInsurance.com BOLT Sources: Center for Women's Business Research - National Women's Business Council - U.S. Small Business Administration Office of Advocacy - Forbes.com - CIA World Factbook www.nase.org/nase/naseblogs/2011-08-10/Number_0f_Self-Employed_Women_Continues_Upward_Trend.aspx %24