Saturday, October 3, 2009
Women-owned businesses generate about $3 trillion in revenue and employ 16 percent of the workforce, making them significant players in the national economy, according to researchers who conducted a benchmark study released Friday.
The study was led by the nonprofit Center for Women's Business Research with sponsorship from Women Impacting Public Policy, a nonpartisan group, and Wal-Mart, the world's largest retailer. The research provided an in-depth look at the economic impact of women-owned businesses, which were defined as privately held companies at which women held at least a 50 percent stake. According to the study, those businesses employ 23 million people, nearly double the number of the 50 biggest companies in the country combined.
Advocates for women in business said the results are a wake-up call for those who consider women to be niche players.
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