Fast growth rate for women-owned small companies.
The latest data from the Small Business Administration confirm the strong growth trend for small businesses owned by women. Since nonfarm sole proprietorships account for approximately 70% of the small businesses in the United States, the SBA believes the data give a reasonable picture of trends affecting small business.
Between 1980 and 1988, the number of women-owned small proprietorships grew by 84%, from 2.5 million to 4.6 million, about 1.5 times the rate of increase in all sole proprietorships. Over that time span, the average annual growth rate for women-owned sole proprietorships was 8.4%, nearly double the 4.4% average annual growth rate in sole proprietorships owned by men.
In 1980, women owned 26.1% of all sole proprietorships, and their enterprises accounted for 8.8% of the receipts of all sole proprietorships. By 1988, women's ownership share had risen to 30.4%, and the receipts represented 13% of all proprietorship receipts.
Interestingly, the areas that experienced the strongest relative growth in women-owned proprietorships during the period were those not traditionally associated with women-mining, construction, manufacturing, transportation, communications and electric utilities.
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|Publication:||Journal of Accountancy|
|Date:||Sep 1, 1991|
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