The National Women’s Business Council recently released an analysis of preliminary Census data that indicate that there were nearly ten million women-owned small businesses in the U.S. in twenty twelve. That represents a nearly twenty eight percent increase from two thousand and seven. The Census defines a woman-owned business as one in which a woman owns fifty one percent of more of the business equity or stock.
While men still own more businesses than women, the number of women-owned businesses grew at a rate four times that of men. As reported by CNNMoney, the report, which pulled data from the Census’ Survey of Small Business Owners, also highlighted major increases in small business ownership among women of color.
Some theorize that large numbers of women from minority groups were induced into starting their own businesses because the economic downturn hit them harder. The number of businesses owned by Hispanic women increased by eighty seven percent between two thousand and seven and twenty twelve, while the number of businesses owned by African-American women expanded by sixty eight percent.
