--- title: "Fact of the Week, June 24, 2002" url: https://womensbusinessresearch.com/jan-jun02 description: "Based on recent growth rates, there are 14,116 minority women-owned firms with revenues of $1 million or more and 111 with 100 or more employees in 2002. This is up from." --- # Fact of the Week, June 24, 2002 Center Publication Center for Women’s Business Research ## January - June 2002 Based on recent growth rates, there are 14,116 minority women-owned firms with revenues of $1 million or more and 111 with 100 or more employees in 2002. This is up from 1997 when there were nearly 10,700 majority-owned, privately held firms owned by women of color with $1 million or more in revenues, and over 80 with 100 or more employees. *From Minority Women-Owned Businesses in the United States, © 2001 Center for Women’s Business Research, underwritten by the Kauffman Center for Entrepreneurial Leadership.* **Fact of the Week, June 17, 2002** Almost two-thirds (65%) of women business owners reinvested business earnings to foster business growth as of 1998, compared with just 38% using business earnings in 1992. *From Capital, Credit and Financing: An Update, Comparing Women and Men Business Owners’ Sources and Uses of Capital, © 1998 NFWBO, now Center for Women’s Business Research and A Compendium of National Statistics on Women-Owned Businesses in the U.S., © 2001 Center for Women’s Business Research, prepared for National Women’s Business Council.* **Fact of the Week, June 10, 2002** The 10 states where minority women-owned firms comprise the greatest share of all women-owned firms are: 1) Hawaii (60%); 2) District of Columbia (40%); 3) California (35%); 4) New Mexico and New York (tied - 32%); 6) Texas (29%); 7) Maryland and Florida (tied - 28%); and 9) Alaska, Georgia and Oklahoma (tied - 24%). **Fact of the Week, June 3, 2002** According to the Bureau of the Census, as of 1992, 62% of women-owned firms used capital to start or acquire their businesses and 32% of these owners borrowed some or all of that capital. A more recent study by Center for Women’s Business Research showed 44% of women business owners borrowing money at start-up. *From A Compendium of National Statistics on Women-Owned Businesses in the U.S., © 2001 Center for Women’s Business Research, prepared for National Women’s Business Council.* **Fact of the Week, May 27, 2002** The 10 states with the fastest growth in the number of minority women-owned firms from 1997 to 2002 are: 1) Montana; 2) North Dakota; 3) Maine; 4) Oklahoma; 5) South Dakota; 6) Vermont; 7) West Virginia; 8) Idaho; 9) New Hampshire; and 10) Alaska. **Fact of the Week, May 20, 2002** A groundbreaking, multi-year project is exploring the impact of training, technical assistance, and other factors on newly started women-owned firms. Results from the first of four rounds of interviews show that study participants agreed that their biggest current challenge is financing. Thirty-five percent (35%) of the women business owners in this study are reinvesting business earnings, 20% are using personal credit cards – but just 10% have a commercial bank loan and just 8% have a line of credit. *From a longitudinal study, full report to be released in 2003. © 2002 Center for Women’s Business Research, underwritten by AT&T, Open:The Small Business Network from American Express and the National Women’s Business Council.* **Fact of the Week, May 13, 2002** Although the number and dollar value of venture capital and other equity investments grew rapidly in the late 1990s, women business owners continue to get a very small share of those dollars. According to Venture One, 5% of the $89.8 billion invested went to firms with women CEOs in 2000. **Fact of the Week, May 6, 2002** Nine percent (9%) of women business owners provide financial support to environmental organizations, a proportion similar to men business owners (13%). This places it ninth in a list of causes that women business owners support, behind religious, youth-related, local community service, education, health, social/human services, woman-related, and arts organizations. *From Environmental Consumerism Among Women Business Owners, © 2002 Center for Women’s Business Research.* **Fact of the Week, April 29, 2002** Nearly one-third (31%) of all of the firms owned by persons of color are owned by women; minority women-owned firms employ 13% of the workers in minority-owned firms and generate 11% of the sales. **Fact of the Week, April 22, 2002** Women business owners who have started or acquired their firms within the past five years are the most likely to say that environmental friendliness has either a moderate or major impact on their purchasing decisions (85%). In comparison, only two-thirds (64%) of the women who have owned their own firms for 20 years or more indicate the same impact. **Fact of the Week, April 15, 2002** Environmental concerns rank just below quality (98%) and price (85%) for women business owners. They are more likely to cite environmental friendliness as a major or moderate influence (76%) on purchasing decisions than they are to point to advertising (57%), a company’s social responsibility (55%), or coupons (33%). **Fact of the Week, April 8, 2002** Women-owned firms in the North and East exhibit the best overall financial strength and creditworthiness. On all three measures -- bill payment, financial stress and overall creditworthiness -- women-owned firms in the Northeast and West North Central regions perform better than the national average. *From Removing the Boundaries: The Continued Progress and Achievement of Women-Owned Enterprises, © 2001 Center for Women’s Business Research, underwritten by Wachovia Corporation with the Cooperation of Dun & Bradstreet.* **Fact of the Week, April 1, 2002** The 10 states with the greatest number of minority women-owned firms in 2002 are: 1) California; 2) New York; 3) Texas; 4) Florida; 5) Illinois; 6) Georgia; 7) Maryland; 8) New Jersey; 9) Virginia; and 10) North Carolina. *From Minority Women-Owned Businesses in the United States, 2002, © 2001 Center for Women’s Business Research, underwritten by the Kauffman Center for Entrepreneurial Leadership.* **Fact of the Week, March 25, 2002** Over one-quarter (27.9%) of commercially active women-owned firms are home-based, as are 23.9% of all commercially active U.S. firms. Women-owned home-based firms are most likely to be found in agriculture/forestry/fishing (57.3% of firms are home-based), construction (44.8%), business services (44.6%), engineering/accounting/research services (38.1%) and non-durable manufacturing (38%). Among all firms, the greatest number of home-based firms are also found in agriculture/forestry/fishing (65.7% of firms are home-based), construction (44.3%), and business services (32.3%). **Fact of the Week, March 18, 2002** Women-owned businesses are just as likely to have remained in business over the past three years as the average U.S. firm. Two-thirds (65.5%) of the women-owned firms that were in business as of December 1997 were still in business at the end of 2000, as were 66.2% of all U.S. businesses. **Fact of the Week, March 11, 2002** Women business owners who are under the age of 45 are more likely (26%) than women aged 45 through 54 (14%), and women who are 55 or older (8%) to bank online. Differences among men business owners with respect to their age and online banking are not significant. *From Online and In Focus: How Women and Men Business Owners Use the Internet, © 2001 Center for Women’s Business Research, underwritten by Wells Fargo.* **Fact of the Week, March 4, 2002** In every major industry group – with the exception of agriculture/forestry/fishing and transportation/communications – the growth in the number of women-owned firms exceeds the industry average between 1997 and 2000. The growth in the number of women-owned firms is highest in agriculture/forestry/fishing (79.3%), engineering/accounting/research services (30.4%), real estate (26.7%), durable manufacturing (26%), and other services (21.9%). *From Removing the Boundaries: The Continued Progress and Achievement of Women-Owned Enterprises, © 2001 Center for Women’s Business Research, underwritten by Wachovia Corporation with the Cooperation of Dun & Bradstreet* **Fact of the Week, February 25, 2002** Women business owners who mention visiting specific Web sites seem more likely than their men counterparts to say that they visit travel and accommodations sites (20% very frequently compared to 8% of men), and less likely to frequently visit business supplies sites (8% of women compared to 21% of men). **Fact of the Week, February 18, 2002** Among the women and men who purchase online, those with home-based firms tend to buy a greater share of their purchases online than do those with other firms. Women-owned home-based firms purchase an average of 18.9% of their goods and services online, while other women-owned firms purchase 11.0%. Likewise, men-owned home-based firms average 23.0% of their purchases online, while other men-owned firms average 13.4%. **Fact of the Week, February 11, 2002** Women-owned firms continue to start up in every industry. Yet, some industries show greater than average start-up activity. In total, one-third (33.6%) of women-owned firms are less than four years old. Over the past years, though, the industries with the greatest share of new women-owned firms are: health services (45% of women-owned firms are less than four years old); retail trade-general merchandise stores (44.4%); finance and insurance (37.5%); engineering/accounting/research services (36.4%); and business services (36.2%). **Fact of the Week, February 4, 2002** The primary concern among women and men business owners who use the Internet is the possible loss of privacy of online data and information – 72% of women and 62% of men consider it a problem, although just 33% and 30%, respectively, count it as a serious problem. **Fact of the Week, January 28, 2002** The Center estimates that the number of women-owned employer firms grew by 37% from 1997 to 2002 – four times the growth rate of all employer firms (9%). Nineteen percent (19%) of women-owned firms and 26% of all firms have employees. *From Women-Owned Businesses in 2002: Trends in the U.S. and 50 States, © 2001 Center for Women’s Business Research with the help of the U.S. Bureau of the Census, underwritten by Wells Fargo.* **Fact of the Week, January 21, 2002** The 10 fastest growing states based on 1997 to 2002 growth in the number of women-owned firms, employment and sales are: Idaho, Wyoming, Utah, Nevada, Arizona, South Dakota, New Mexico, Montana, Oregon, and Alaska. **Fact of the Week, January 14, 2002** Between 1997 and 2002, the number of minority women-owned firms has increased by 32%, employment has grown by 6%, and sales have risen by 19%. **Fact of the Week, January 7, 2002** Collectively, women-owned firms in the top 50 metropolitan areas in the U.S. number nearly 3.2 million, employ 4.9 million people, and generate over $661 billion in sales – thus the top 50 metropolitan areas account for over half the number, employment and sales of women-owned firms nationwide. *From Women-Owned Businesses in 2002: Trends in the Top 50 Metropolitan Areas, © 2001 Center for Women’s Business Research with the help of the U.S. Bureau of the Census, underwritten by Wells Fargo.* ## Citation Center for Women’s Business Research. “Fact of the Week, June 24, 2002.” Washington, DC. 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