Research Summary
Women-Owned Businesses Top 9 Million in 1999
Washington, DC -- The number of women-owned businesses in the U.S. has more than doubled during the past 12 years, according to a new report by the National Foundation for Women Business Owners. Employment in women-owned firms has increased four-fold since 1987 and sales have grown five-fold, demonstrating their escalating impact on the economy.
Economic clout increases as employment, revenues grow
“The latest figures show the phenomenal expansion of women-owned businesses. In the past decade, women-owned businesses have doubled in number, but even more impressive, the number of employees has grown more than four times and sales have increased more than five times,” noted Lois E. Haber, CLU, ChFC, NFWBO Chair and President & CEO of Delaware Valley Financial Services, Inc. in Berwyn, Pa. “Today, there are 9.1 million women-owned businesses in the U.S., representing 38% of all businesses, employing 27.5 million people and generating over $3.6 trillion in sales annually.”
NFWBO’s analysis shows that from 1987 to 1999, the number of women-owned firms in the U.S. increased 103%. Employment grew at a far more rapid rate of 320%, and sales skyrocketed 436%.
NFWBO’s report, “1999 Facts on Women-Owned Businesses: Trends in the U.S. and the 50 States,” was sponsored by the organization’s Leadership Circle, preeminent entrepreneurs who support NFWBO’s mission to encourage the growth of women-owned enterprises through research and sharing information.
The top ten ranked states based on the number of firms, number of employees and sales generated are: California, New York, Florida, Texas, Illinois, Pennsylvania, Ohio, Georgia, New Jersey, and Washington and Michigan (tied for 10th).
The ten fastest growing states based on 1992 to 1999 growth rates, according to NFWBO, are: Georgia, Arizona, Washington, Delaware, Idaho, Nevada, New Mexico, Utah, Florida, and California.
While the largest share of women-owned firms are in the service sector, the greatest growth in the number of women-owned firms continues to be in “non-traditional” industries. From 1992 to 1999, the greatest growth in the number of women-owned firms was seen in construction, wholesale trade, transportation/communications, agriculture, and manufacturing, according to NFWBO.
“The increasing number of women-owned businesses and their growing economic impact are changing the business landscape,” observed NFWBO’s Haber. “Women entrepreneurs are active in the business marketplaceaccessing capital, buying technology, using the Internet to expand their businesses, and establishing retirement plans in much the same way as their male counterparts. However, NFWBO has identified significant differences in how women business owners lead their businesses.”
According to NFWBO research women entrepreneurs are more likely than men business owners to place value on business relationships as well as factual information, are more likely than men entrepreneurs to seek out the opinions and input of others, and are more reflective than their male counterparts when making decisions. As women-owned firms continue to increase in numbers and economic strength, it is increasingly valuable for customers, policy makers, and business-to-business marketers to understand and benefit from these similarities and differences.
Charts
Women-Owned Firms Now Number More Than 9 Million in the U.S.
Women-Owned Firms Employ an Estimated 27.5 Million People in the U.S.Women-Owned Firms Now Generate Over $3.6 Trillion in SalesWomen-Owned Firms Double in Number; Employment and Sales Skyrocket Tables
Women-Owned Firms in the United States: 1987-1999
Number of Women-Owned Firms, Employment and Sales by State: 1999Percent Growth in Number, Employment, and Sales of Women-Owned Firms by State: 1992-99
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“1999 Facts on Women-Owned Businesses: Trends in the U.S. and the 50 States,” - a complete report including fact sheets for the U.S., the 50 states, and the District of Columbiais available for $130. (Discounts are available for NAWBO members and NFWBO corporate partners.)
The National Foundation for Women Business Owners (NFWBO) is a nonprofit research and leadership development institute. NFWBO is recognized as the premier source of information and intelligence on women business owners and their enterprises by corporations, policy makers, financial institutions and the media. Up-to-date information about women business owners and their enterprises worldwide is documented in NFWBO’s original research and analysis. The Foundation is affiliated with the National Association of Women Business Owners (NAWBO).
Members of NFWBO’s Leadership Circle, who sponsored this report are Lois Haber, Delaware Valley Financial Services, Inc., Berwyn, PA.; Laura Henderson, Prospect Associates, Silver Spring, MD.; Nina McLemore, Regent Capital, New York, NY; Kavelle Bajaj, Bajaj Family Foundation, Inc.; Marina Grant, Grant Communications, Del Mar, CA.; Carolyn J. Olson, CJ Olson Market Research, Minneapolis, MN; Valerie Perlowitz, Reliable Integration Services, Inc., Dunn Loring, VA.; and John C. Rennie, AverStar, Inc., Burlington, MA.
Study Methodology: The 1999 estimates are derived by analyzing 1987 and 1992 data published by the U.S. Bureau of the Census, as well as NFWBO’s 1996 estimates, and projecting those trends forward. The following general assumptions were made: 1) the growth rates between 1987 and 1992 would continue at similar rates through 1999 (growth in the number of firms is projected linearly, growth in employment and sales is curvilinear); 2) the increases in the number of firms, employment and sales found by the addition of C corporations in 1992 would be the same in both prior and later years; 3) census industry growth rates at the national level would be the same at the state level.
Note to Editors: Individual state Fact Sheets from NFWBO’s “1999 Facts on Women-Owned Businesses” report are available upon request. Statistical data as of 1996 for women-owned firms in the 50 top metropolitan areas and women business owners of color are available from NFWBO. Research findings from other national and international surveys are also available.
| 19871 | 19922 | 19963 | 19994 | % Change, 1992-99 | |
|---|---|---|---|---|---|
| Total U.S.Number of FirmsEmploymentSales ($000) | 4,476,6166,559,213$681,440,025 | 6,406,71513,217,066$1,574,090,448 | 7,951,00018,543,000$2,288,211,000 | 9,108,90027,523,200$3,655,283,600 | 42.2108.2132.2 |
| Industry | |||||
| AgricultureNumber of FirmsEmploymentSales ($000) | 51,47137,871$3,142,675 | 88,532106,671$8,109,567 | 118,000162,000$12,083,000 | 140,400287,100$20,477,400 | 58.6169.1152.5 |
| MiningNumber of FirmsEmploymentSales ($000) | 29,00226,293$3,427,939 | 40,84167,012$12,240,629 | 50,000100,000$19,291,000 | 57,400167,700$38,809,300 | 40.6150.2217.1 |
| ConstructionNumber of FirmsEmploymentSales ($000) | 119,687362,138$39,805,405 | 233,128746,591$90,147,198 | 324,0001,054,000$130,421,000 | 391,9001,584,100$206,142,300 | 68.1112.2128.7 |
| ManufacturingNumber of FirmsEmploymentSales ($000) | 118,3321,044,755$124,554,898 | 191,8632,306,397$365,173,381 | 251,0003,316,000$557,668,000 | 294,8005,169,500$1,011,287,500 | 53.7124.1176.9 |
| TCPU5Number of FirmsEmploymentSales ($000) | 94,020345,948$42,484,415 | 166,926943,274$100,312,077 | 225,0001,421,000$146,574,000 | 269,0002,480,000$236,907,200 | 61.1162.9136.2 |
| Wholesale TradeNumber of FirmsEmploymentSales ($000) | 113,756513,635$104,298,424 | 213,0591,055,021$304,204,870 | 293,0001,488,000$464,130,000 | 352,1002,231,800$839,361,000 | 65.3111.5175.9 |
| Retail TradeNumber of FirmsEmploymentSales ($000) | 882,4251,756,319$149,651,297 | 1,207,9662,979,122$273,053,643 | 1,468,0003,957,000$371,776,000 | 1,663,7005,347,900$522,860,800 | 37.779.591.5 |
| FIRE6Number of FirmsEmploymentSales ($000) | 484,615355,474$71,298,670 | 667,932962,150$206,891,735 | 815,0001,447,000$315,366,000 | 924,6002,516,100$568,782,900 | 38.4161.5174.9 |
| ServicesNumber of FirmsEmploymentSales ($000) | 2,377,1621,881,266$95,362,262 | 3,308,9653,972,773$203,983,463 | 4,054,0005,646,000$290,880,000 | 4,613,5008,594,900$445,878,200 | 39.4116.3118.6 |
| State | Number of Firms | Employment | Sales ($000) | Average Ranking1 |
|---|---|---|---|---|
| U.S. Total | 9,108,900 | 27,523,200 | 3,665,283,600 | |
| Alabama | 113,500 | 326,600 | 40,319,200 | 26 |
| Alaska | 29,300 | 60,300 | 10,452,700 | 46 |
| Arizona | 151,400 | 593,100 | 63,069,000 | 19 |
| Arkansas | 77,700 | 203,200 | 24,184,100 | 33 |
| California | 1,240,000 | 3,824,500 | 548,750,200 | 1 |
| Colorado | 181,500 | 610,100 | 65,763,600 | 14 |
| Connecticut | 115,900 | 340,900 | 58,057,500 | 25 |
| Delaware | 24,100 | 142,400 | 16,098,600 | 42 |
| District of Columbia | 21,400 | 56,600 | 8,425,400 | 49 |
| Florida | 582,000 | 2,003,300 | 227,364,300 | 3 |
| Georgia | 239,400 | 1,112,900 | 182,407,100 | 8 |
| Hawaii | 44,600 | 143,800 | 17,774,400 | 39 |
| Idaho | 49,300 | 148,600 | 15,658,600 | 39 |
| Illinois | 384,700 | 1,445,700 | 194,883,700 | 5 |
| Indiana | 190,400 | 689,900 | 74,487,200 | 13 |
| Iowa | 103,900 | 229,900 | 31,438,300 | 29 |
| Kansas | 92,000 | 225,100 | 31,142,200 | 31 |
| Kentucky | 112,500 | 299,800 | 35,293,200 | 28 |
| Louisiana | 115,600 | 410,200 | 97,717,100 | 21 |
| Maine | 55,600 | 120,400 | 14,550,700 | 41 |
| Maryland | 193,200 | 410,900 | 58,812,200 | 20 |
| Massachusetts | 215,700 | 433,600 | 60,831,500 | 18 |
| Michigan | 302,000 | 779,300 | 99,399,200 | 10 |
| Minnesota | 189,900 | 496,800 | 68,465,200 | 16 |
| Mississippi | 62,600 | 149,400 | 15,002,700 | 37 |
| Missouri | 174,300 | 413,700 | 57,769,800 | 22 |
| Montana | 39,100 | 93,800 | 9,006,600 | 45 |
| Nebraska | 64,800 | 235,700 | 34,041,000 | 30 |
| Nevada | 56,000 | 212,800 | 22,851,500 | 35 |
| New Hampshire | 47,600 | 130,100 | 22,756,400 | 38 |
| New Jersey | 251,500 | 845,000 | 133,298,000 | 9 |
| New Mexico | 67,400 | 186,000 | 18,154,400 | 36 |
| New York | 599,900 | 1,895,800 | 304,017,000 | 2 |
| North Carolina | 229,600 | 605,300 | 76,046,500 | 12 |
| North Dakota | 20,800 | 45,800 | 5,354,300 | 51 |
| Ohio | 352,000 | 1,124,300 | 120,766,200 | 7 |
| Oklahoma | 119,400 | 278,400 | 36,699,400 | 26 |
| Oregon | 139,900 | 390,000 | 50,702,400 | 24 |
| Pennsylvania | 339,100 | 1,267,900 | 161,240,900 | 6 |
| Rhode Island | 33,600 | 132,700 | 15,854,100 | 42 |
| South Carolina | 104,300 | 232,000 | 22,392,500 | 32 |
| South Dakota | 27,200 | 73,500 | 9,582,900 | 46 |
| Tennessee | 161,300 | 365,400 | 43,974,100 | 23 |
| Texas | 627,300 | 1,810,000 | 222,241,500 | 4 |
| Utah | 73,700 | 175,100 | 29,121,400 | 34 |
| Vermont | 33,900 | 68,800 | 8,105,900 | 48 |
| Virginia | 217,800 | 521,200 | 61,157,500 | 15 |
| Washington | 218,500 | 901,500 | 121,276,700 | 10 |
| West Virginia | 45,700 | 81,600 | 9,950,700 | 44 |
| Wisconsin | 154,000 | 556,500 | 68,847,100 | 17 |
| Wyoming | 21,700 | 60,300 | 4,808,300 | 49 |
| State | Number of Firms | Employment | Sales | AverageRanking1 |
|---|---|---|---|---|
| U.S. Total | 42.2 | 108.2 | 132.2 | |
| Alabama | 45.9 | 93.7 | 115.8 | 23 |
| Alaska | 39.0 | 102.7 | 128.0 | 26 |
| Arizona | 49.1 | 166.5 | 186.9 | 2 |
| Arkansas | 41.6 | 98.7 | 123.5 | 24 |
| California | 42.2 | 140.4 | 163.7 | 10 |
| Colorado | 37.1 | 132.2 | 148.9 | 17 |
| Connecticut | 33.3 | 81.9 | 113.9 | 44 |
| Delaware | 48.6 | 160.3 | 185.3 | 3 |
| District of Columbia | 34.6 | 84.0 | 113.7 | 43 |
| Florida | 52.0 | 122.1 | 135.0 | 9 |
| Georgia | 53.8 | 171.9 | 231.6 | 1 |
| Hawaii | 37.9 | 162.2 | 181.8 | 11 |
| Idaho | 51.3 | 155.9 | 173.2 | 5 |
| Illinois | 41.1 | 116.7 | 139.0 | 16 |
| Indiana | 39.6 | 73.5 | 89.4 | 47 |
| Iowa | 34.4 | 67.9 | 113.1 | 48 |
| Kansas | 27.2 | 90.0 | 120.7 | 41 |
| Kentucky | 39.3 | 91.1 | 113.0 | 34 |
| Louisiana | 38.3 | 131.9 | 239.6 | 12 |
| Maine | 45.0 | 70.9 | 95.0 | 41 |
| Maryland | 45.9 | 82.2 | 111.8 | 32 |
| Massachusetts | 34.3 | 42.2 | 54.2 | 51 |
| Michigan | 43.2 | 103.4 | 128.0 | 20 |
| Minnesota | 40.6 | 94.5 | 136.6 | 22 |
| Mississippi | 40.8 | 75.7 | 77.4 | 44 |
| Missouri | 35.9 | 79.3 | 112.9 | 46 |
| Montana | 41.8 | 92.7 | 102.6 | 33 |
| Nebraska | 36.4 | 129.1 | 181.2 | 19 |
| Nevada | 58.7 | 139.1 | 153.9 | 6 |
| New Hampshire | 39.0 | 80.2 | 125.2 | 36 |
| New Jersey | 40.3 | 84.0 | 104.1 | 40 |
| New Mexico | 52.5 | 137.4 | 149.8 | 7 |
| New York | 39.3 | 87.7 | 107.0 | 38 |
| North Carolina | 48.1 | 87.4 | 116.1 | 24 |
| North Dakota | 24.3 | 64.6 | 99.6 | 50 |
| Ohio | 44.0 | 116.0 | 135.8 | 14 |
| Oklahoma | 32.4 | 96.8 | 126.8 | 34 |
| Oregon | 46.2 | 103.6 | 121.9 | 17 |
| Pennsylvania | 37.0 | 105.5 | 123.9 | 27 |
| Rhode Island | 44.8 | 103.9 | 121.7 | 21 |
| South Carolina | 48.0 | 75.2 | 81.0 | 37 |
| South Dakota | 37.2 | 92.8 | 132.7 | 30 |
| Tennessee | 46.6 | 88.2 | 109.4 | 28 |
| Texas | 39.2 | 142.9 | 156.8 | 13 |
| Utah | 48.5 | 114.5 | 182.7 | 8 |
| Vermont | 48.1 | 82.9 | 111.0 | 28 |
| Virginia | 44.6 | 88.6 | 108.2 | 31 |
| Washington | 47.3 | 167.7 | 208.3 | 3 |
| West Virginia | 37.0 | 67.9 | 95.3 | 49 |
| Wisconsin | 42.5 | 108.7 | 144.1 | 15 |
| Wyoming | 36.6 | 104.2 | 97.8 | 38 |
Citation
Center for Women’s Business Research. “Women-Owned Businesses Top 9 Million in 1999.” Research Summary. May 11, 1999. Washington, DC.