Adorable, profitable ones. Female founders are starting nearly 1,300 companies a day, according The 2014 State of Women-owned Business Report, by American Express Open. That’s more than the guys, by the way. Although we’re happy to share our productivity with them and co-found firms too, right? Whereas guys seem to have trouble finding female cofounders, perhaps women have partnership in their DNA–because most female-led firms are able to place men in partner or co-founder roles.
There are 9,087,200 majority-owned and privately-held women-owned firms, according to this year’s Ernst & Young report. That’s as if every Swede owned a business!
We’re sick of “corporate.”
Nationally, the number of women-owned firms has increased by 68% since 1997. The states with the fastest growth in the number of women-owned firms over the past 17 years are mostly southern: Georgia (up 118%), Texas (98%), North Carolina (91%), Nevada (91%) and Mississippi (81%).
We’re closer to parity that you think.
46% of the privately held firms in the US are now at least half owned by women.1 These companies represent almost 16 million jobs, according to Ernst & Young
Shh–we’re taking over tech, too.
Nine of CNBC’s 20 hottest start-ups of 2014 are women-led. This last year, 30% of Launch Tennessee’s top cohort drawn from nine statewide accelerator programs are founded or co-founded by women.
We win the money marathon.
Women-owned businesses outperform everyone but blue chips on the long haul.In the last couple decades, the growth in the number of women’s firms (up 68%), employment (up 11%) and revenues (up 72%) blows past the growth rates of all but the largest, publicly-traded firms, soaring over growth rates among all other privately-held businesses over this period.
Our sisters are superstars.
According to Womenable’s report for American Express Open, minority-women-owned firms are killing it. African American women-led firms are up 296% since 1997. Tweet this! Latinas are +206%. Native American/ Alaska Native are 124% and Asian American-women-led firms, +179%. The number of minority women-led firms tops non-minority women-owned firms +37%. Tweet this!
So with all this entrepreneurial girl superpower, is there anything left for a female founder to whine about?
One thing. In that same American Express/Womenable survey where we draw most of these facts, 48% of women business owners cited a lack of available mentors or advisors as something holding them back. It was the largest single category of complaint. Access to capital, for example was an issue for only 31% of survey responders.
Alicia Robb, senior fellow at the Kauffman Foundation, credits the increased number of high-growth women entrepreneur role models, who show other women how women just like them succeed on their own terms. We say we need more mentors. Yes ladies, we are in the era of each one, teach one.
Don’t “fake it till you make it.” If you’re running a business, you’re making it. There are women out there who need to see you doing it–the messy parts. Just like teaching kids to cook–the mess is part of the fun.
So what can you do?
- Contribute right here to FemaleEntrepreneurs and share your story with our national audience. Join our community (top right of the site, free).
- Check out your local area for a Female Founders Club, StartUp Chicks, or other women’s entrepreneur group.
- Make time every week to have just an hour with another woman growing a business.
- Go forth and multiply!