According to the The 2013 State of Women-Owned Businesses Report conducted by American Express OPEN, the only bright spot in recent years with respect to privately held company job growth has been among women-owned firms. They have added an estimated 175,000 jobs to the U.S. economy since 2007.
Between 1997 and 2013, when the number of businesses in the United States increased by 41%, the number of women-owned firms increased by 59%—a rate 1½ times the national average.
Tory Burch, founder of the Tory Burch Foundation (TBF) which supports the economic empowerment of women entrepreneurs, provides a bit of insight as to why in this excerpt from The Economist.
“Based on our experiences, women entrepreneurs see the world through a different lens and, in turn, do things differently. This is reflected in the kinds of businesses we start, whether it’s Coco Chanel, who learned the trade of a seamstress as a child, Estée Lauder, who turned a passion for skincare and make-up into a beauty empire, or Oprah Winfrey, whose media business focuses on helping women to reach their potential.”
THE TOP FEMALE ENTREPRENEURS IN BUSINESS TODAY
To see some great examples of what the numbers are saying, take a look at the infographic below compiled by Richard Madison, the marketing executive for the Brighton School of Business & Management in the UK.