By Betty Dillard
Texas ranks second in growth of women-owned businesses.
Texas has an estimated 737,300 women-owned firms, employing 616,600 and attributing to nearly $115 billion, according to the third annual State of the Women-Owned Businesses Report released on April 4.
The report, commissioned by American Express OPEN, analyzed the 1997, 2002 and 2007 data from the U.S. Census Bureau’s quinquennial business census, the Survey of Business Owners.
The analysis, reported by industry, revenue and employment size at the national and state levels, reveals the growth trends among the 8.6 million women-owned enterprises over the past 15 years.
Nationally, the number of women-owned businesses has increased 59 percent since 1997 while employment has increased 9.6 percent and sales have jumped 63 percent.
Texas is ranked No. 2, at 93.3 percent, in growth in number of firms over the past 16 years and No. 19, or 76.6 percent, in growth of firm revenue between 1997 and 2013.