Woman to Woman: Powerful Advice for Female Entrepreneurs
Huffington Post - 4 months
According to the 2016 State of Women-Owned Businesses Report, commissioned by small business payment card issuer American Express OPEN, women own 11.3 million of all U.S. businesses. Think that's great? Well, the report also uncovered this juicy statistic:
"Between 2007 and 2016, the number of women-owned firms increased by 45%, compared to just a 9% increase among all businesses."
Translation: Over the past nine years, the number of women-owned businesses has grown at a rate five times faster than the U.S. average.
Women are indeed strapping on their stilettos and strutting into this beautiful world of entrepreneurship. And that's the incredible news.
Now, before we all run into the streets to toss confetti and host a Soul Train line, the report also found that women-owned businesses, on average, employ just ONE additional employee besides themselves. PLUS, women business owners earn salaries of $143,431, well under the $400,000 for typical private business owners. And
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