Women-Owned Businesses: Carving a New American Business Landscape

Thursday, March 27, 2014 - 2:15pm

The face of entrepreneurship is changing.

Over the last 15 years, women-owned firms have grown by one and a half times the rate of other small enterprises and now account for almost 30 percent of all businesses. Additionally, one in five firms with revenue of $1 million or more is woman-owned.

Most of us in the business community are familiar with Barbara Corcoran, Sara Blakely, Tory Burch, and other prominent female entrepreneurs. But the growing ranks of womenowned businesses include countless success stories that deserve attention. These include Jenny Fulton, a laid off stockbroker who started Jenny’s Pickles; Rumia Ambrose-Burbank, who left Electronic Data Systems to start VMS and grew it to one of the top 50 grossing African-American owned businesses in the nation; and El Brown, who made it her goal to empower military spouses through mobile career opportunities while also running KinderJam, an Early Childhood Education learning program.

The Center for Women in Business is pleased to present our latest research highlighting the growing impact of women entrepreneurs and small business owners on the American economy. We look at how women like Fulton, Ambrose-Burbank, and Brown are reshaping the entrepreneurial landscape. In particular, we examine the “1099 economy” and the women who have started their own micro-enterprises either out of choice or necessity. The research also provides powerful examples of systems and programs that encourage and support women’s business initiatives in communities around the United States.

Though this report is a mere snapshot of what is going on in our nation, we are sure you will agree that women are impacting how business gets done in America.

DAVID C. CHAVERN
President, Center for Women in Business;
Chief Operating Officer, U.S. Chamber of
Commerce

THE HONORABLE
JOHN R. McKERNAN JR.
Senior Adviser to the President and CEO,
U.S. Chamber of Commerce;
President, U.S. Chamber of Commerce
Foundation