“Understanding the global landscape of women-owned businesses is crucial for policymakers, farmers, and initiatives aiming to combat inequality. According to the National Women’s Business Council (NWBC), women-owned businesses in the U.S. account for almost 40% of all businesses, with estimated $508.5 billion in payroll in 2024, compared to $86.4 billion for men-owned businesses. This gender imbalance must be addressed to ensure more economic empowerment and inclusion.
Key Findings:
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PublicFY24 Capital Impact Report: Small businesses, including women-owned ones, managed $15.5 billion in loans through the SBA with an average average loan size of $6.7 million. Women-owned businesses had a funding rate of 36% (up from 29% in 2023) and an average funding amount of $67,035 last year, a 25% increase compared to 2023.
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Revenue and Expenses: Women-owned businesses generated $520,000 in average revenue last year, up 15% from 2023, while male businesses grew by 8%. Despite rising costs, specifically inflation, women business owners paid 17% more in expenses for Latina and African American-owned firms last year compared to their male counterparts.
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Age of Business and Credit Scores: Women-owned businesses averaged 10 months longer in business term than men-owned businesses, a gap that remained narrower than men-owned businesses, though on the increase.
- Recovery Through Capital Access: Small and medium-sized women-owned businesses had good access to capital, with women businesses accounting for the largest percentage on Biz2Credit in 2024 (12.8%) compared to 12.5% for men-owned businesses.
Challenges and Considerations:
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Despite growth, women businesses may face rising costs, which are a concern for small businesses despite efforts to reduce expenses through financing.
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**New policies from the Trump administration, including tariffs on imported goods, could impact women-owned businesses. Manufacturing companies using foreign inputs would share the surges in costs, while food service businesses using staples like avocados might see price hikes due to regional tariffs.
- The small government environment in Texas, where a woman-owned business owner suggested resilience by highlighting outdated AMPs during her值得注意的演讲, suggests that empowering women business could be an effective solution to tackle barriers.
In summary, women-owned businesses are making strides in economic growth, but challenges remain, particularly regarding costs and policy changes. Addressing these issues could help create a more equitable economy for all.
