Despite U.S. economic woes, women-owned businesses are growing in numbers twice that of all others, increasing revenues by 40%, hiring more workers and demonstrating other healthy business traits that will position them for continued growth in 2002, according to the Center for Women’s Business Research (founded as the National Foundation for Women Business Owners).
In more than a half-dozen surveys and analyses conducted by the Center in 2001, women entrepreneurs evidenced a strong surge forward and growing maturity. With the strengthening of the economy already predicted by some economists for mid-year, women business owners are poised to show more stellar growth.
Some special notes on the analyses include that larger women-owned businesses are growing exponentially, up to nine times faster than all firms nationwide, and businesses owned by minority women are growing in numbers exceeding all others, women-owned, minority and all businesses.
The data released over the past year tracked overall trends, not month-to-month or quarter-to-quarter results, which can swing too widely and be inaccurate. The data shows women business owners on an ever increasing spiral upward over time. Women entrepreneurs can take heart that they are still in a larger pattern of growth.
That growth is the result, in part, of women business owners gaining more access to procurement, capital, credit and private equity, and the ongoing recognition by financial institutions of women entrepreneurs as a viable market. It's because of support of our corporate partners, at our NAWBO chapter levels and with our individual businesses, that these changes and the resulting growth are happening. When we work together, it is a better economy for all of us.
Make sure your chapter, and you individually for your business, uses these statistics in your marketing. They are dynamic, eye-catching and effective! You can also get your state and metro area specific stats at www.womensbusinessresearch
Save the Date! More next month on our annual meeting and business conference in Salt Lake City, including the NWBOC Procurement Fair, June 20-22. Those of you who have attended national events before--write to me at mary@prworks.ms and tell me the power behind these conferences for you. I'll share these comments with the rest of the region next month.
