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By Lou Phelps, Coastal Empire News

April 6, 2016 -  There are now an estimated 457,000 women-owned firms in Georgia, employing 273,300 and attributing to roughly $53,224,000 according to the sixth annual State of Women-Owned Businesses Report, commissioned by American Express OPEN.

The comprehensive report was released today, analyzing data from the U.S. Census Bureau’s Survey of Business Owners and factoring in relative changes in Gross Domestic Product (GDP).

It shows a 22.5% growth rate in women-owned businesses since 2012, and a 62% growth rate since American Express began its report back in 2002.

The unique analysis, reported by industry, revenue and employment size at the national and state levels, shares a new and nuanced investigation into the growth trends among the 11.3 million women-owned enterprises since the recession. 

Nationally, the number of women-owned firms (between 2007 and 2016) increased by 45%, compared to just a 9% increase among all businesses, with Georgia far outpacing growth rates in other states. 

Therefore, over the past nine years, the number of women-owned firms has grown at a rate fully five times faster than the national average, according to the report.

And, Georgia is ranked second (62%) in growth of number of firms over the past nine years and 25th (30%) in growth of firm revenue 

 

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