.AmericanExpress's new study found that minority women are starting firms at more than double the pace of female businesses overall – and at almost five times the pace when compared with all companies. Let's hear it for progress 👊 Via YahooFinance
THE NINTH ANNUAL STATE OF WOMEN-OWNED BUSINESSES REPORT FINDS FIRMS OWNED BY WOMEN OF COLOR GREW AT MORE THAN DOUBLE THE RATE OF ALL WOMEN-OWNED BUSINESSES
“The face of entrepreneurship is evolving to include all women, regardless of demographics. Even more impressive is that women are starting businesses on their own terms – whether it be their full-time focus or a part time activity,” said Courtney Kelso, Senior Vice President of American Express. “The economic impact of women-owned businesses is undeniable, from the trillions they contribute via revenue to the millions of jobs they provide.
As of 2019, women of color account for 50% of all women-owned businesses. An estimated 6.4 million women of color-owned businesses employ nearly 2.4 million people and generate $422.5 billion in revenue. But, even as new minority-owned businesses are opening, the revenue disparity is increasing. In 2014, minority-owned businesses averaged $67,800 in revenue; by 2019 the average had dropped to $65,800, a decline of 3%.
The states showing the highest employment vitality - a measure of employment growth rate from 2014 to 2019 at women-owned firms and their average number of employees are:Explore the full 2019 State of Women-Owned Businesses Report, here.This 2019 State of Women-Owned Businesses Report, commissioned by American Express is based on data from the United States Census Bureau Survey of Business Owners , which is conducted every year in years ending in two and seven.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Chipotle CEO: The future of food is on your phone - CNN VideoThe future of food is on your phone, Chipotle CEO Brian Niccol says. He tells CNN's ChristineRomans that tech advances will continue to help Chipotle serve food faster.
Read more »
Prioritizing Culture When You’re Going GlobalHow you treat your employees is incredibly important to what you're ultimately trying to create, and I fundamentally believe that business leaders need to be more “human” when it comes to business.
Read more »
Women Supporting Women: Kourtney Kardashian And Allison Statter On Business And FriendshipKourtney Kardashian and Allison Statter share three lessons on how they support one another to scale their ventures: Poosh and Blended Strategy Group. They also provide advice for female entrepreneurs at the Create & Cultivate San Francisco Conference.
Read more »
UK business secretary Leadsom says economy could withstand a no-deal Brexit: FTUK business secretary Andrea Leadsom said Britain's economy is robust and t...
Read more »
Dispensed: Amazon and Best Buy's expanding healthcare ambitions, the history of controversial e-cig startup Juul, and the lowdown on Novartis' letter to the FDAWelcome to Dispensed, our weekly dispatch of healthcare, biotech, and pharma news from Business Insider.
Read more »
Vicky Serra Knew She Wanted To Pursue Her Passion. Here’s How She Turned It Into A Small Business.5 tips on how to turn your idea into a sustainable business.
Read more »