Important Statistics:
- As of 2006, there are an estimated 233,445 privately-held, majority-women owned firms in
Massachusetts, generating more than $46 billion in sales and employing more than 284,262 people. 167,701 (>71%) of them, generating $35 billion in sales and employing 207,146 people, are from
Boston,
Cambridge, or
Quincy.
- In 2006, THE CENTER FOR WOMEN’S BUSINESS RESEARCH reported that there were 24,594 privately-held, majority-woman-owned employer firms in
Massachusetts, the number of which grew by 22.3% from 1997 to 2006.
- Between 1997 and 2006, the number of women-owned firms in
Massachusetts increased by approximately 43.1 percent, employment grew by 1 percent, and sales increased by 45.7 percent.
- In a 2006 membership survey, members of NAWBO cited the following as their top business concerns: business marketing; business growth and expansion; cash flow and capital; client budget constraints; and time management, respectively.
- In the same survey, NAWBO listed their members’ public policy priorities for 2007 as the following: access to affordable healthcare insurance; increased federal procurement opportunities for women entrepreneurs; fair and equitable tax treatment for small businesses; retirement benefits; access to capital; business technology; and education and workforce.
- Women business owners are philanthropically active: 70% volunteer at least once per month; 31% contribute $5000 or more to charity annually; and 15% give $10,000 or more.
- The primary focuses of women-owned businesses that reach $1 million or more in revenues include: planning for growth; setting goals; selling to other businesses; constant upgrading of their skills; and bringing in business partners, respectively. Women business owners’ success strategies for obtaining capital include: consulting with professional business advisers; establishing ongoing relationships with their banks; and utilizing financial records to measure their status on a regular basis.
- Nationally, the largest share of privately-held, majority-women-owned firms is in the service sector, with 69% of women-owned firms in services. 14.4% are in retail trade, and 7.7% are in real estate.
- Nationally, women-owned firms continue to diversify across industries, with the greatest growth rates seen in “non-traditional industries,” including wholesale trade (a 283.4% increase between 1997 and 2006); healthcare assistance services (a 130% increase); arts, entertainment, and recreation services (116.8% growth); and professional, scientific, and technical services (82.7% growth).
- 15% of women-owned businesses with $1 million or more in revenue say that their primary market is international
- Women owners of firms with revenues of $1 million or higher embrace financial measurements as management tools and produce more financial reports more often than women running smaller businesses.
- Women business owners who obtained capital persevered, making an average of four attempts to obtain bank loans or lines of credit and 22 attempts to obtain equity capital.
Resources for additional reading:
http://www.sba.gov/advo/research/women.html
http://womeninbusiness.about.com/od/wibtrendsandstatistics/a/cenburstatindex.htm
http://www.nfwbo.org/
