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The Growth of Women Owned Businesses

women owned businessesDespite the fact that this infographic is a blatant ad for women who own businesses to use the American Express card, there are some really interesting and encouraging facts here. Women owned businesses are growing 1.5 times faster than any other sector over the last 15 years according to American Express.  That’s pretty impressive, but the problem is we still only represent 29% of businesses and are only contributing 4% of the revenue in this country. This means that women owned businesses are making far less than their male counterparts and are not employing anywhere near the numbers that the male owned businesses are.

While we’re moving in the right direction, it seems that we have such a long way to go to really contribute to the overall economy of the country. There has been a raging debate in the world of compensation about pay levels for women vs. their male counterparts.  So many very smart people have weighted in on this I do not pretend to have original ideas here but one theory that has been discussed at length elsewhere might be pertinent here. That is the argument that women tend to make less money because we choose professions or positions that pay less. Our priorities are not with making as much money as possible but rather with being able to care for our families while still making some kind of salary.  Whether or not you agree with this theory, I believe this trend is changing and more and more women are finding that they can make a good salary and still continue to take care of their families.  It’s not always easy to juggle all our demands, but there is a way and many of us are doing it successfully.

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