A new two-part study by the National Women’s Business Council examining the economic impact of both women-owned and women-led firm reveals that the contributions of women business owners have long gone understated. For the first time, these reports include data on women-led firms, where a woman owns a percentage of the business at least equal to any other owner and where a woman or women managed day-to-day operations.
According to the studies, there were over 1 million women-led businesses generating in excess of $300 billion in revenues in 2002, or about 3% of the U.S. GDP. These firms employed 2.5 million employees and paid nearly $56 billion in payroll. Combined, women-owned and women-led (WOWL) firms totaled over 7.5 million in 2002, employed 9.6 million people and generated nearly $1,240 billion in revenues, or about 12% of the U.S. GDP.
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A new two-part study by the National Women’s Business Council examining the economic impact of both women-owned and women-led firm reveals that the contributions of women business owners have long gone understated. For the first time, these reports include data on women-led firms, where a woman owns a percentage of the business at least equal to any other owner and where a woman or women managed day-to-day operations.
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