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Women Expanding Ownership of U.S. Private Businesses

Women in home building and other privately owned U.S. businesses continue to rise to the ownership ranks at an expanding rate, according to a study released this spring by the Center for Women’s Business Research.

Based on Census Bureau data, the analysis found that there are 10.1 million privately held businesses in the nation that are at least 50% owned by women. Those businesses are generating 18.2 million jobs and contributing more than $2.3 trillion in sales to the economy.

These firms represent 46% of all privately held businesses, said Myra Hart, a Harvard Business School professor and chair of the women’s research center.

Over the last five years — between 1997 and 2002 — women-owned businesses grew by 11%, which was more than 1.5 times the rate of all privately-held businesses.

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One in 11 women in the U.S. is now a business owner, according to Rene Jones, president of Heller and Jones and president of the research group’s Philadelphia chapter.

“As business owners, we are an increasingly dynamic part of the economy in every city in the U.S.,” said Jones. “But most of all, this information shows that for women, the dream of entrepreneurship can be a viable reality.”

The results were the latest findings in an ongoing project entitled, “Completing the Picture.” Pitney Bowes Inc., the Philadelphia chapter of the Center for Women’s Business Research and Wells Fargo are underwriting this phase of the project.

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To learn more about the NAHB Women's Council, which represents thousands of members who work in all aspects of the building industry, click here. For more details, e-mail Amy Larrabee or call her at 800-368-5242 x8455.
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