Center for Women’s Business Research annual report

Source: Exec Digital USA

Date :8/29/2007 11:57:43 AM

The Center for Women’s Business Research’s report of facts on women-owned businesses was recently released.

The pocket-sized fold-out contains the top line findings from current research by the Center and is expanded this year to also include facts from related research.

Key Facts about Women-Owned Businesses — 2007 Update, is underwritten by the Massachusetts Mutual Life Insurance Company (MassMutual).

"The Center for Women's Business Research launched the 'fact card' 14 years ago," says Margaret M. Smith, chair, Center for Women's Business Research. "Since then it has expanded from four panels to 10 panels of the most up-to-date knowledge about women-owned businesses. Today, it is one of our signature products and is always in high demand. Everyone from researchers, government officials, business representatives and reporters know that if they have this card, they have a good overview of the status and significance of this nation's 10.4 million women-owned businesses at their finger tips."

In addition to the number of women-owned firms, the fact card contains the following facts, among others:

- Women-owned firms employ nearly 13 million people and generate $1.9 trillion in sales.

- Between 1997 and 2006, majority women-owned firms (51 percent or more women-owned) grew at twice the rate of all firms (42 percent vs. 24 percent).

- The vast majority (83 percent) of women business owners are personally involved in selecting and purchasing technology for their businesses.

- 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 smaller firms.

- There are 2.4 million firms owned 50 percent or more by women of color in the U.S., employing 1.6 million people and generating nearly $230 billion in sales.

- More than two-thirds (67 percent) of women business owners choose financial products and services based on their relationship and experience with a lender.