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Although the increase is evident,
women owned businesses continue to account for only a small percentage of
all businesses and revenues account for a small percentage of total
revenues generated by businesses, as reflected in the 1997 Census
information.
About Women Owned
Businesses
There is an interesting difference between the
businesses the Census considers women owned and male owned. What the
statistics show is that a huge proportion of the businesses majority owned
by women are small businesses, usually sole proprietorships
(unincorporated). Women owned businesses tend to be smaller than other
firms. The 1997 Census figures show:
-
85% of all women owned businesses
were sole proprietorships
-
6% of women owned businesses were
incorporated (C corporations, excluding S corporations)
-
The 6% of incorporated women owned
businesses accounted for 45% of receipts of all women owned businesses
-
Just under 69% of women owned
businesses had under $25,000 in receipts, compared to 5% of all
businesses with under $25,000 in receipts.
-
Only 2% of women owned businesses
had over $1 million in receipts, compared to 5% of all businesses with
over $1 million in receipts.
-
Only 16% of women owned businesses
had paid employees
-
70% of women owned businesses
operated in the retail and services sector
(U.S. Dept. of Commerce News,
1997 Revenues for Women-Owned Businesses Show Continued Growth, Census
Bureau Reports)
What do all these numbers mean? These
statistics demonstrate a continued growth in the number of and revenues
generated by women owned businesses. What they also show is that women
owned businesses continue to account for a small percentage of all
businesses operating and that they tend to be small, unincorporated
businesses, often operating without paid employees.
Women continue to be underrepresented in terms of the number of business
owners in America, and continue to be underrepresented in the number of
large, incorporated businesses with revenues over $1 million in receipts
yearly.
It is incumbent on the Federal and state governments to assist women in
changing the nature of women running women majority businesses and
increase the number of businesses that are majority owned by women. One of
the most effective ways to do this is to provide financial incentives,
whether they be through government grants or low interest government
loans.
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