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ByNWBC Council

The Growth and Development of Women-Owned Enterprises in the United States, 2002 – 2012: An Analysis of Trends from the U.S. Census Bureau’s Survey of Business Owners

Women continue to enter into the ranks of business ownership at rates exceeding the national average. Indeed, the rate at which women are launching businesses is on the rise.

  • As of 2012, there are nearly 10 million women-owned businesses[1] in the United States. These enterprises employ over eight million workers and generate over $1.4 trillion in revenues.
  • Between 2002 and 2012, the number of women-owned firms increased at a rate 2-1/2 times the national average (52% vs. 20%), employment in women-owned firms grew at a rate 4-1/2 times that of all firms (18% vs. just 4%), and the growth in revenues generated by women-owned firms paralleled that of all firms (up 51% compared to 48%).
  • The pace of business formation among women is on the rise. Between 1997 and 2002, the number of women-owned firms grew by 20%, as it did between 2002 and 2007. Then, between 2007 and 2012, the number of women-owned firms increased by 27% – a significant uptick in business start-ups.
  • On average, between 2002 and 2012, women launched an average of 928 net new firms each and every day. Within that ten-year period, there were an average of 714 net new women-owned firms per day between 2002 and 2007, and 1,143 per day between 2007 and 2012.

 

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ByNWBC Council

Statement on the Federal Government Meeting the 5% WOSB Goal

The U.S. Small Business Administration (SBA) just announced that the federal government has met the 5% government-wide prime contracting goal for spend with women-owned small businesses (WOSBs), defined as those that are at least 51 percent controlled by women, for the first time in fiscal year 2015. Maria Contreras-Sweet, Administrator of the SBA, along with Valerie Jarrett, Senior Advisor to the President, and Congresswoman Nydia Velazquez, Ranking Member of the House Small Business Committee, will share the news at the National Press Club this afternoon. Amanda Brown, Executive Director of the National Women’s Business Council, will be on the stage as well.

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ByNWBC Council

The Next 31 Days…Women’s History Month!

Hello there — and happy Women’s History Month!

Every year, during the month of March, we celebrate the great contributions of women — because it is this history that reminds us that progress is a perpetual process embedded in the human spirit. We’ll be spending the next 31 days highlighting the legendary women entrepreneurs that have paved the way for the now 10 million women business owners in the country, and the aspiring boss ladies of the future. Please join us as we recognize amazing women and their profound impact as innovators, inventors, industry disruptors, and more.

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ByNWBC Council

An Analysis of Growth Trends of African American Women-owned Businesses

African American women-owned businesses have grown at a rate that is 2.5 times that of women-owned businesses in the United States. Between 2007 and 2012, women-owned businesses grew by 27%, which is, in itself, a huge accomplishment. A closer look at where the growth is happening reveals that African-American women-owned businesses grew an astonishing 67% in the same five year time period. Go back a little bit more, to 2002, and  African-American women-owned businesses have grown 178%, making them the fastest growing group of women business owners.

 

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ByNWBC Council

These are the faces of the women’s entrepreneurship, which is a growing community of nearly 10 million women-owned businesses. Below find the complete list of the 111 women entrepreneurs on the Forbes 30 Under 30.

2015 was a remarkable year for women in business, and with this year’s release of Forbes 30 Under 30, 2016 looks even more promising. With more women starting, owning, and growing their businesses every day, the trailblazers in Forbes 30 Under 30 come as no surprise.

We combed through the list and found: 200 women rockstars, 111 of which are founders or co-founders. Right now is HER time. Of the 20 sectors represented, women entrepreneurs led their classmates in four categories: Consumer Tech, Retail and E-Commerce, Manufacturing and Industry, and Food and Drink. Meet the women entrepreneurs that are leading Forbes 30 Under 30 in this Buzzfeed Post.

 

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ByNWBC Council

Beyond Sole Source: Strategies to Reach the 5% WOSB Goal Recap

Last week, the Council hosted our 1st Public Meeting for fiscal year 2016. This web conference included updates from the Council on our research and engagement efforts, remarks by special guests, and then a panel discussion titled “Beyond Sole Source: Strategies to Reach the 5% WOSB Goal.”

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ByNWBC Council

[Job Opportunity] Special Assistant at the National Women’s Business Council

The National Women’s Business Council – a non-partisan federal advisory council created to serve as an independent source of advice and counsel to the President, Congress, and the U.S. Small Business Administration on economic issues of impact and importance to women entrepreneurs – is hiring for a Special Assistant to join the team in 2016.

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ByNWBC Council

Beyond Sole Source: Strategies to Meet the 5% WOSB Goal

The question of federal procurement is a topic of great interest to many small business owners, particularly women small business owners looking to gain or expand their access within this marketplace. The government is the largest buyer of goods and services and there is tremendous opportunity, but the processes through which one can obtain these federal contracting opportunities can often be perplexing and burdensome.

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ByNWBC Council

[Job Opportunity] Director of Research, National Women’s Business Council

Introduction

The National Women’s Business Council is a non-partisan federal advisory council created to serve as an independent source of advice and counsel to the President, Congress, and the U.S. Small Business Administration on economic issues of impact and importance to women entrepreneurs. As the government’s only independent voice for women entrepreneurs, the Council’s mission is two-fold: to support and conduct groundbreaking research that provides insight into women business enterprises from startup to success, and to share the findings to ultimately incite constructive action and policies. For more information, please visit www.nwbc.gov.

 

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ByNWBC Council

10 Million Strong – National Women’s Small Business Month: A Report Back

“Our theme this year is 10 million strong because we know women are launching businesses that create value and solve problems. These businesses are innovative, scalable and are creating jobs and strengthening our economy. Women-owned and women-led businesses are truly a force to be reckoned with,” said Carla Harris, Presidentially-appointed Chair of the NWBC.

 

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