SBA salutes the success of women entrepreneurs
In celebration of Women’s History Month, the Small Business Administration salutes women entrepreneurs who have taken risks in pursuit of their passions and who view setbacks or challenges as just another step to achieve something greater.
Nationally, women owned 12.3 million small businesses last year, or 40 percent of all ventures employing 500 or fewer individuals. According to American Express’ 2018 State of Women-Owned Businesses report, which makes its projections based on data from the most recent U.S. Census Bureau Survey of Business Owners, women are not only starting, on average, 1,821 new businesses a day, but that number is a significant uptick from the average of 952 between 2012 and 2017. In fact, the overall number of women-owned businesses surged 31 times since 1972.
Another interesting data point to consider is that women own a larger share of businesses in every minority group compared to their overall share of businesses nationally. Almost 60 percent of African-American-owned businesses and 44 percent of Hispanicowned businesses are women-owned.
Times have no doubt changed for the better for women-owned small businesses; it’s a testament to the progress we have made in our economy and as a country. Today, there are many firms and resources committed to helping women founders start and rev their economic engines. The Atlantic Region of the SBA is privileged to have many of our nation’s womenowned small business success stories right here.
Kirsten DiCarlo opened FabUBus Mobile Spa and utilized services offered by a great trifecta of SBA Resource partners out of our Buffalo district office: SCORE Buffalo-Niagara, the Small Business Development Center at SUNY Buffalo State College and the Women’s Business Center at Canisius College. The personalized services DiCarlo received made a positive difference.
Women’s Business Centers, one of our resource partners, in fiscal year 2017 supported more than 150,000 women, resulting in tremendous revenue and job growth for the businesses they served – $1.7 billion in revenue and 17,000 new jobs.
This Women’s History Month, please join the SBA in celebrating all the contributions women have made toward our shared history, culture, society and business community.
Female entrepreneurs drive innovation and technology in addition to placing small business on a global competitive playing field. The job creation and positive impact on our nation’s economy make it very clear that women entrepreneurs are key to America’s success.