Texas has an estimated 938,800 women-owned businesses, employing 808,200 people and contributing to roughly $134,229,500,000 in revenues according to the seventh annual State of Women-Owned Businesses Report. The report is commissioned by American Express OPEN, and was released Nov. 9 to analyze data from the U.S. Census Bureau’s Survey of Business Owners and factoring in relative changes in Gross Domestic Product.
The analysis shares an investigation of growth trends over the past 20 years among the 11.6 million women-owned enterprises which employ nearly 9 million people and generate more than $1.6 trillion in revenues.
Dallas-Fort Worth, is ranked No. 12 in growth of number of women-owned firms among the top 50 U.S. metropolitan areas with a 116.9 percent increase over the past 15 years, No. 23 in growth of jobs created with a 33.5 percent increase and No. 9 in growth of firm revenues with a 114.7 percent increase.
Texas is ranked No. 6 in growth of number of women-owned firms over the past 20 years with a 146.1 percent increase, No. 12 in growth of jobs created with a 47.3 percent increase and No. 22 in growth of firm revenues with a 106.3 percent increase.
According to the study, nationally, the number of women-owned firms increased by 114 percent from 1997 to 2017, compared to just a 44 percent increase among all businesses. Therefore, over the past 20 years, the number of women-owned firms has grown at a rate of 2.5 times faster than the national average.