Women Entrepreneurs Thrive During Recession – OnlineBusinessDegree.org
American women business owners weren’t about to let something like the recession get in the way of their success. A recent study by the National Women’s Business Council (NWBC) showed that the majority of businesses owned by women survived or thrived despite the economic uncertainty between 2007 and 2009.
The NWBC used data from the U.S. Census Bureau’s Survey of Business Owners to track the number of women-owned businesses that opened their doors, those that shut down, and the number of jobs created by women-owned businesses. The study found that between 2007 and 2009, 55% of women-owned businesses either increased or maintained employment.
“This is the first time we have current, reliable data about how these businesses did during the recession,” NWBC Executive Director Anie Borja, said in a press release. “These numbers are significant because they will help give us more insight into women-owned businesses, which are a critical piece of growing our economy.”
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Highlights of the study include:
- Women own 30% of companies, a total of 7.8 million generating $1.2 trillion annually in sales.
- Despite owning 30% of all businesses, women-owned businesses only capture 11% of all receipts.
- In 2007, 909,661 women-owned ﬁrms had paid employees, with employment totaling 7,520,121 and payroll totaling $214,673,400.
- The number of patents issued to women increased 33%
- The percentage of trademarks granted to women more than doubled. Women had a higher representation among trademark holders than patent owners.
Follow Elise Rambaud Marrion on Twitter @elisermarrion.