 By the numbers:
Women-owned businesses soar
"As Secretary of
Labor, I see first hand that women-owned businesses are driving our economy by
producing more and more jobs for American workers. These women are vital to our
nation's prosperity." - Secretary Elaine L.
Chao
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The growth of women-owned businesses is attracting the attention of
leaders both in and outside of government. According to the Small Business
Administration (SBA), there are currently 9.1 million women-owned businesses in
the United States. Between 1997 and 2002, the number of women-owned firms
increased by 14% nationwide -- twice the rate of all firms - according to the
Center for Women's Business Research (CWBR). The Center also reports that
women-owned business sales grew by 40% and their employment increased by 30%,
which is one-and-a-half times the national rate.
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More and more women have found that owning a business is
not only personally satisfying, but financially rewarding as well. The SBA
report "Women in Business 2001" reveals that women-headed households with a
business had an average income level 2.5 times greater than those without a
business. Their average net worth was six times greater. Nearly three-quarters
(72%) of women business owners have investments in stocks, bonds or mutual
funds, compared to 58% of all working women, according to the CWBR.
"Working together we will overcome these obstacles
and help more women entrepreneurs create jobs and generate
wealth."
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For More Information About WB, Contact:
U.S.
Department of Labor
Women's Bureau
200 Constitution Avenue, NW - Room
S-3002
Washington, DC 20210
Telephone 1-800-827-5335 or (202)
693-6710
Fax (202) 693-6725
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