Women Launching 1,200 New Businesses a Day

Today in the United States there are 1,200 new women owned businesses open a day. That is drastically up from last years 740 businesses a day. Recently American Express released their 4th Annual Open State of Women-Owned Business Report which had some very encouraging numbers for female entrepreneurs.

4/10 new businesses today are started by women. This means that there are currently 9.1 million women owned businesses which contributes to $1.4 trillion dollars in revenue. Female entrepreneurs currently employ 7.8 million people.

According to the report the top state for women-owned businesses is not a state you would expect. North Dakota come out number one with Washington D.C. and Nevada not too far behind.

Women of color are also making strides in their businesses. In 1997 women of color only owned 17% of women-owned businesses. Today women of color own 32% of women owned businesses.

Women-owned businesses are also expanding across industries. Today women-owned businesses lead the growth in 8 out of 13 industries. Some of those industries include real estate, finance/insurance, and wholesale trade. Women-owned companies are not as strong in retail and educational services.

Even with all of these great numbers and growth, there is still work to be done for women in business. Even though women-owned businesses continue to grow, women are only employing 6% of the workforce and only contribute to 4% of the nation’s revenue. According to the report, “the real issue at hand is not getting more women to start business, but rather providing support to women who are already in business to enable them to grow their enterprises to the next level.”

The full report is available here. We want to hear from you! What do you think needs to be done to help women-owned businesses succeed?
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Felena is a long-time entrepreneur and marketing maven.  Her latest venture, Hera Hub, is a spa-inspired shared workspace for female entrepreneurs. This as-needed, flexible work and meeting space provides a productive environment for women who primarily work from home.  Hera Hub members have access to a professionalspace to meet with clients and to connect and collaborate with like-minded business owners, thus giving them the support they need to be prosperous.  Cost-effective monthly membership options are suited for freelancers, independent consultants, entrepreneurs, nonprofits, and authors.

Hera Hub is much more than just a shared workspace; it’s a community of like-minded entrepreneurial women who find the additional resources, such as special classes, workshops, and one-on-one support essential for their business growth. The first San Diego location is conveniently located in Sorrento Valley.  By the end of 2012 Hera Hub will have additional locations in Mission Valley & Carlsbad.

Felena is passionate about education, earning her Bachelor’s degree in Marketing from the University of San Diego and her MBA from California State University Dominguez Hills.  She taught Marketing and Entrepreneurship at the Fashion Institute of Design & Merchandising and at California State University Dominguez Hills for the MBA online program for eight years. Felena was most recently rewarded for community efforts, as she was awarded the “Women Business Owner of the Year Award” by the local chapter of the National Organization of Women Business Owners.