According to a report by the U.S. Census Bureau, the number of women-owned businesses grew 20 percent between 1997 and 2002, twice the national average for all businesses. The nearly 6.5 million businesses generated more than $940 billion in revenue, up 15 percent from 1997.
The report provides more information at the state, metropolitan, county and city levels as well as by kind of business than previous Census Bureau reports. Women owned almost 30 percent of non-farm businesses in the U.S. in 2002, while 14 percent employed more than 7.1 million people and the vast majority had no employees (5.6 million).
Other highlights included: nearly 1-in-3 women-owned firms operated in health care, social assistance and other services; wholesale and retail trade accounted for 38.3 percent of women-owned business revenue; there were 117,069 women-owned firms with receipts of $1 million or more; there were 7,240 women-owned firms with 100 employees or more, generating $275 billion in gross receipts; and states with the fastest growth rates between 1997 and 2002 were Nevada, Georgia, Florida and New York.