• Latest
  • Trending
Female-owned businesses: the US economy’s quiet success story

Female-owned businesses: the US economy’s quiet success story

September 28, 2019
Myanmar’s military takes power detains Suu Kyi

Myanmar’s military takes power detains Suu Kyi

February 2, 2021
Climbing coronavirus cases in Colorado’s high country aren’t tracking back to ski resorts

Climbing coronavirus cases in Colorado’s high country aren’t tracking back to ski resorts

February 2, 2021
Russian’s hottest models in 2021

Russian’s hottest models in 2021

February 2, 2021
Afghanistan an Imperfect Solution

Afghanistan an Imperfect Solution

February 2, 2021
Russia Signs Extension Of Nuclear Arms Treaty

Russia Signs Extension Of Nuclear Arms Treaty

February 2, 2021
Even Democrats agree with much of Trump’s foreign policy legacy

Even Democrats agree with much of Trump’s foreign policy legacy

January 27, 2021
Tech Censorship Is the Real Gift to Putin

Tech Censorship Is the Real Gift to Putin

January 27, 2021
National Guard Troops Stationed at US Capitol Have Been Cleared to Use Lethal Force

National Guard Troops Stationed at US Capitol Have Been Cleared to Use Lethal Force

February 2, 2021
U.S. Antifa continues to topple the empire

U.S. Antifa continues to topple the empire

January 16, 2021
America and the New Monopoly of Censors

America and the New Monopoly of Censors

January 11, 2021
U.S. Intelligence Agencies Conclude Russia Was Behind Massive SolarWinds Hack

U.S. Intelligence Agencies Conclude Russia Was Behind Massive SolarWinds Hack

January 6, 2021
EarthFirst! sabotaged gas pipeline threatens safety of 3,000 Aspen residents

EarthFirst! sabotaged gas pipeline threatens safety of 3,000 Aspen residents

January 11, 2021
Sunday, February 28, 2021
The Denver Herald
No Result
View All Result
  • Regional News
    • Colorado
      • Denver News
    • Kansas
    • Nevada
    • Utah
  • US News
  • World
    • Africa
    • Asia
    • China
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russia
    • United Kingdom
  • National Security
    • Immigration
    • Military
    • Politics
    • Terrorism
  • Business
    • Economy
    • Science
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • MLB
      • Colorado Rockies
      • Kansas City Royals
    • NBA
      • Denver Nuggets
      • Utah Jazz
    • NFL
      • Denver Broncos
      • Kansas City Chiefs
    • NHL
      • Colorado Avalanche
    • Olympics
    • Soccer
    • Tennis
    • Water Sports
  • Culture
    • Art
    • Books & Literature
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Technology
    • Travel
    • Women & Children
  • Environment
    • Climate Change
    • Wildlife
  • Regional News
    • Colorado
      • Denver News
    • Kansas
    • Nevada
    • Utah
  • US News
  • World
    • Africa
    • Asia
    • China
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russia
    • United Kingdom
  • National Security
    • Immigration
    • Military
    • Politics
    • Terrorism
  • Business
    • Economy
    • Science
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • MLB
      • Colorado Rockies
      • Kansas City Royals
    • NBA
      • Denver Nuggets
      • Utah Jazz
    • NFL
      • Denver Broncos
      • Kansas City Chiefs
    • NHL
      • Colorado Avalanche
    • Olympics
    • Soccer
    • Tennis
    • Water Sports
  • Culture
    • Art
    • Books & Literature
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Technology
    • Travel
    • Women & Children
  • Environment
    • Climate Change
    • Wildlife
No Result
View All Result
The Denver Herald
No Result
View All Result

Female-owned businesses: the US economy’s quiet success story

September 28, 2019
in Business, Culture, Economy, Featured, US News
0
Home
Post Views: 25

 

It’s a sad fact that women still earn less than men, a fact confirmed in at least two recent studies. The good news is that the environment is changing, more companies are committed to closing that pay gap and more women are starting to earn the same as their male counterparts. The better news, at least to me, is that women are doing other things to make more money: like start businesses. And they’re wildly succeeding.

That’s the takeaway from the most recent State of Women-Owned Businesses Report, commissioned by American Express. The ninth annual report, which is based on US Census Bureau data and adjusted by Gross Domestic Product data, found that women-owned businesses continue to trend above all businesses. According to the report, women-owned businesses now represent 42% of all businesses – nearly 13 million – employ 9.4 million workers and generate revenue of $1.9tn. Women, on average, started 1,817 new businesses a day in the US between 2018 and 2019, a rate comparable to last year.

“The face of entrepreneurship is evolving to include all women, regardless of demographics. Even more impressive is that women are starting businesses on their own terms – whether it be their full-time focus or a part-time activity,” Courtney Kelso, a senior vice-president of American Express said. “The economic impact of women-owned businesses is undeniable, from the trillions they contribute via revenue to the millions of jobs they provide.”

RelatedPosts

U.S. Intelligence Agencies Conclude Russia Was Behind Massive SolarWinds Hack

Man who repeatedly spoke of hating Jews has been arrested in Colorado temple bomb plot: FBI

Red and green in the US

Rhode Island gas prices up 2 cents this week as a result of Saudi attacks

Japan’s Motegi says no concern regarding U.S. threats of additional tariffs on Japan’s autos

In what could be a response to lower pay at their place of employment, more women than ever – particularly women of color – are also starting up side businesses. When looking at specific minority groups over the last five years, growth in “side entrepreneurship” is up 99% among African American women, 63% for Asian American women and 46% for Latina/Hispanic women. As of 2019, according to the report, women of color accounted for 50% of all women-owned businesses, with an estimated 6.4 million women of color-owned businesses employing nearly 2.4 million people and generating $422.5bn in revenue.I predict that future generations of female entrepreneurs will expand their offerings beyond doing traditional ‘female’ things

All of this is great stuff, except for one thing: female entrepreneurs still seem to be drawing from the same well. More than half surveyed have started businesses in just three industries: personal services such as hair and nail salons and pet care businesses, healthcare and social assistance such as child daycare and home healthcare services and professional/scientific/technical services such as lawyers, bookkeepers, architects, public relations firms and consultants. Many companies in these industries oftentimes lag behind in revenue when compared with other verticals such as wholesale and retail trade or tech-focused businesses.

But one challenge at a time, right? It’s great to see the decrease in gender-based pay gaps in the corporate world. It’s fantastic to see so many women not only starting new businesses but succeeding with them. I predict that future generations of female entrepreneurs will expand their offerings beyond doing traditional “female” things and into more profitable businesses where men still dominate.

The fact is that women have made significant gains not only in the workplace but in entrepreneurship. Of course there is still a long way to go to achieve equality. But, compared with the data from 10 or 20 years before, there’s no dispute that the environment continues to improve.

Tags: businesseseconomy'sFemaleUS
ShareTweetShare

Related Posts

Myanmar’s military takes power detains Suu Kyi
Asia

Myanmar’s military takes power detains Suu Kyi

February 2, 2021
Climbing coronavirus cases in Colorado’s high country aren’t tracking back to ski resorts
Business

Climbing coronavirus cases in Colorado’s high country aren’t tracking back to ski resorts

February 2, 2021
Russian’s hottest models in 2021
Art

Russian’s hottest models in 2021

February 2, 2021
Afghanistan an Imperfect Solution
Afghanistan

Afghanistan an Imperfect Solution

February 2, 2021
Russia Signs Extension Of Nuclear Arms Treaty
Colorado

Russia Signs Extension Of Nuclear Arms Treaty

February 2, 2021
Next Post
The Realpolitik of Greta Thunberg

The Realpolitik of Greta Thunberg

Translate

Popular Post

Myanmar’s military takes power detains Suu Kyi
Asia

Myanmar’s military takes power detains Suu Kyi

February 2, 2021
0

  Naypyitaw, Myanmar (2/2-57.15).     The Associate Press reports that Myanmar’s military staged a coup Monday and detained senior politicians...

Read more
EU’s Dijsselbloem expects deal on Greek bailout next week: spokesman

EU’s Dijsselbloem expects deal on Greek bailout next week: spokesman

June 10, 2017
Northern Irish unionists to open talks with UK’s May about support

Northern Irish unionists to open talks with UK’s May about support

June 20, 2017
China seeks Russia’s help to ‘cool’ North Korea situation

China seeks Russia’s help to ‘cool’ North Korea situation

April 15, 2017
Army taps reservists with cyber skills to fight IS militants

Army taps reservists with cyber skills to fight IS militants

June 10, 2017
  • About Us
  • Creative Commons
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
  • Contact Us

Topics

Follow Us

About Us

Thedenverherald.com is part of The Denver Herald Media Group LLC, which delivers daily news around the globe.

© 2011 The Denver Herald

No Result
View All Result
  • Regional News
    • Colorado
      • Denver News
    • Kansas
    • Nevada
    • Utah
  • US News
  • World
    • Africa
    • Asia
    • China
    • Canada
    • Europe
    • Latin America
    • Middle East
    • Russia
    • United Kingdom
  • National Security
    • Immigration
    • Military
    • Politics
    • Terrorism
  • Business
    • Economy
    • Science
  • Sports
    • Auto Racing
    • Cycling
    • Golf
    • MLB
      • Colorado Rockies
      • Kansas City Royals
    • NBA
      • Denver Nuggets
      • Utah Jazz
    • NFL
      • Denver Broncos
      • Kansas City Chiefs
    • NHL
      • Colorado Avalanche
    • Olympics
    • Soccer
    • Tennis
    • Water Sports
  • Culture
    • Art
    • Books & Literature
    • Food & Drink
    • Health
    • History
    • Movies & TV
    • Music
    • Privacy
    • Religion
    • Technology
    • Travel
    • Women & Children
  • Environment
    • Climate Change
    • Wildlife

© 2011 The Denver Herald