Women-owned businesses hit with $10 trillion annual opportunity lossStaff writer ▼ | August 21, 2015
The U.S. Women's Chamber of Commerce reported top level data from the recently released preliminary results of the 2012 Survey of Business Owners.
Survey According to a new report:
Women-owned firms produce only 4.82% of all revenues from U.S. firms. The failure of women-owned firms to produce revenues commensurate with their numbers produces annual opportunity shortfall of over $10 trillion dollars.
The U.S. Women's Chamber of Commerce also reports that firms owned by women of color experienced even greater challenges as they struggled when compared to the revenues produced by firms owned by white women.
Black women own 15.37% of all women-owned firms (5.53% of total firms), but generate only 2.73% of all revenues produced by women-owned firms (0.13% of total firms).
Hispanic women-owned firms also show a significant opportunity loss. Hispanic women own 5.34% of all U.S. firms but produce only .25% of annual revenues.
The Census data also reveals that there are 384,549 veteran-women-owned firms in the U.S. representing 1.39% of all firms. Veteran-women-owned firms generate $20 billion in revenues. ■