Women-Owned Businesses Are the Growth Engine for the U.S. Economy

Happy day-after International Women's Day!  I hope you celebrated the successes of women entrepreneurs all over the world.

Women-owned businesses continue to be a growth engine for the U.S. economy.  The number of women-owned businesses that applied for funding in 2018 increased by 13 percent, according to an annual study of women-owned companies by Biz2Credit, a leading online credit marketplace for small companies.

But it revealed that loans for women entrepreneurs where nearly one third less than for their male counterparts.

The study also revealed that the average loan amount for women-owned companies was $48,341 last year. The most common type of funding was working capital for business expansion.

Learn more how the lending gap narrows for women business owners, but it's still 31% less than for men.

Photo by Suhyeon Choi on Unsplash.