Small Business Startup News

Women Owned Businesses Increasing At A Rapid Rate

Written by Jenna Weiner
Published: 4/1/2011

Women-owned firms now number 8.1 million, according to new research.

A recent report from American Express OPEN, called the State of Women-Owned Businesses Report, is showing that small business startup news has never been better for women.

Women Owned Businesses

According to the study, the number of women-owned businesses has increased from 5.4 million in 1997 to 8.1 million in 2011. Furthermore, revenue generated by these firms is expected to grow to approximately $1.2 billion this year.

"There has never been a better time to start a new business," said Karen Terry, a women's business coach and mentor based in Houston, in a separate statement.

"Many women are getting severance packages, or unemployment benefits, due to the recession. They can use those unexpected windfalls to finance their own business," added Terry. "Getting fired or laid off could actually be a blessing in disguise."

For women looking to launch their own business yet are still battling away in the corporate world, Terry advises that they start creating a "financial safety net" by doing small things such as skipping that daily latte. 

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