Thursday, August 20, 2015

U.S. sees big spike in black and Hispanic women entrepreneurs

On Wednesday, the National Women's Business Council released an analysis of preliminary Census data which showed there were nearly 10 million women-owned small businesses in the U.S. in 2012, an almost 22% increase from 2007. (The Census defines a woman-owned business as one where a woman owns 51% or more of the business equity of stock).

While men still own more businesses than women, women-owned businesses grew at a rate of four times that of male-owned businesses. In 2012, men owned nearly 15 million businesses.
Overall, women-owned businesses earned a total of $1.6 trillion between 2007 and 2012 and the vast majority (89.4%) were run by sole proprietors, meaning the only employee was the owner.

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