50+ Women Entrepreneurs Statistics & Trends Uncovered [2024]

December 18, 2023 0 Comments

Curious about the numbers behind successful women entrepreneurs?

What do the statistics say about women entrepreneurs?

Women entrepreneurs are slowly closing the gender gap. Women’s participation has increased from 402,000 in 1972 to 12.3 million female business owners now in the US.

Women are making their way up in entrepreneurship, 20% of world startups have at least one female founder.

Here we have uncovered the stats defining women’s triumphs in entrepreneurship with the latest women entrepreneurs statistics.

Top Women Entrepreneurs Statistics: Editor’s Pick

female etrepreneurs count up as 43% of global entrepreneurs
  1. 42% of US businesses are owned or managed by women. [2
  2. 14% of US startups have women CEOs. [15]
  3. 10 women-owned businesses have become unicorns in 2019. [3]
  4. Women-owned businesses have nearly doubled in the last 15 years. [2]
  5. Only 13% of women leaders are seen in industries like high-tech manufacturing and metals. [18]
  6. The average revenue for Women-owned businesses is observed to have declined from $384,359 in 2019 to $330,226 in 2020. [4]
  7. Only 40 black women in the US were able to raise over $1 million for their startup ventures, in 2021. [16]

Women In Business Statistics

The journey of women entrepreneurs in the last decades is worth noting and appreciating. 

Women’s participation has increased from 402,000 in 1972 to 12.3 million female business owners now in the US. [1]

Female entrepreneurs count up as 43% of global entrepreneurs. [1]

The top motivators for women who start a business are:

Top MotivatorsPercentage of Women
Pursuing passion48%
Financial independence43%
Flexibility41%
Making more money36%
Better work-life balance32%
Creating their environment27%

42% of US businesses are owned or managed by women. [2

Women CEO and Other Corporate Statistics

  • Female representation in CEO and director positions has increased from 15% in 2019 to 26% in 2021. [6]
  • 14% of US startups have women CEOs. [15]
  • Women took over 31% of all senior manager roles worldwide. [6]
  • 90% of companies admit to having at least one female in a senior management role. [6]
  • Female representation is seen to be decreasing as they climb up the corporate ladder. [7]

Women Entrepreneurs Statistics Based on Demographics

Male vs Female Entrepreneurs Statistics

Can you believe women entrepreneurs still face gender bias?

Although the position of women has been improved in society and business, they still have a long way to go. 

Women receive an average loan size of $39k, while men easily receive a loan size of $44k. [18]

Only 13% of women leaders are seen in industries like high-tech manufacturing and metals. [18]

350 newly-founded companies admitted that female-owned businesses are safer for investors. [18]

The new businesses opened by women have been reported to be making more money compared to those opened by men. 

Women Entrepreneurs Based on Race

The Percentage of colored women in entrepreneurship has increased to 163% in the last 45 years. [17]

Color women made up 89% of newly created businesses in 2019.  [17]

260 African-American women are responsible for opening a new business every day. [17]

According to women of color enterprises, black women-owned businesses generate $390 billion in revenue. [17]

Hispanic women-owned businesses grew by 172% in the last 10 years. [17]

funding for black women-owned companies

Women Entrepreneurs Based on Age

  • The majority of businesswomen (68.9%) belong to the Gen X category, born between 1965 and 1980. [8]
  • 19.4% of business owners are baby boomers.
  • 10.68% of businesswomen are millennials.
  • 1%  of businesswomen belong to the post-war decades, born between 1926 and 1945.
women entrepreneurs based on age

Women Employment Statistics

Ever wondered about the impact of women in entrepreneurship?

Are women entrepreneurs affecting the economy?

Yes! Women entrepreneurs are positively impacting the world economy. 

While employment for all businesses went down by 0.8% in the last decade, employment in women-owned businesses increased by 21%. [12]

Women in the US employ 9.4 million people, which accounts for only 8% of the total private sector workforce. [13]

Women Startups and Founders Statistics

  • 20% of world startups have at least one female founder. [15]
  • 28% of US startups have at least one female founder. [15]
  • Eastern and Central Europe are reported to have the largest number of tech startup female founders. [15]
  • In the Asia Pacific region, female founders are common, there is just a 1.5% gender gap between founders in China and a 4.5% gender gap in Japan. [15]

Women-Owned Business Statistics in the US

10 women-owned businesses have become unicorns in 2019.

Women-owned businesses have nearly doubled in the last 15 years. [2]

It is surprising to note that, unlike popular opinion, highly populated and famous cities like Chicago or New York have fewer women-owned businesses compared to less-populated cities. 

Top Locations for Women-Owned Businesses:

  1. Georgia
  2. Oregon
  3. Idaho
  4. Nevada
  5. South Dakota

49% of all new businesses were opened by women in 2029 and 2021, which is a rise from 2019 (29%). [3]

79% of female entrepreneurs admit to feeling more empowered today compared to five years ago. [3]

Major types of Businesses owned by women:

BusinessPercentage owned by women
Child day care services96.5%
Knitting fabric/apparel87.4%
Beauty Salons90%
Home health care86%
Other low-growth industries44%

Women in Business Funding & Revenue Statistics

Women-owned businesses in the US generate $1.8 trillion in revenue every year. [14]

This revenue accounts for only 4.3% of total revenue in the private sector. [14]

The average revenue for Women-owned businesses is observed to have declined from $384,359 in 2019 to $330,226 in 2020. [4]

Increasing expenses are resulting in a revenue decrease of 4%.  [5]

The average credit score of female business owners dropped from 588 in 2020 to 580 in 2021. [5]

It is shocking that despite decent outcomes, 70% of women-owned SMEs in developing countries are not able to get financial support to build businesses. [1]

It results in a $300 billion credit deficit every year in these women-owned SMEs. [1]

Only 40 black women in the US were able to raise over $1 million for their startup ventures, in 2021. [16]

Here are the various funding sources for women entrepreneurs:

Source of FundingPercentage
No-investor funding4%
Single investor funding10%
Multi-investor funding 7%
Small business loans10%
Self-funded61%
Partial investor funding8%

Women Entrepreneurs’ Success Rate

How successful are women entrepreneurs?

Are they just meeting the expectations or are setting the benchmark?

According to World Bank Records, 1 out of every 3 businesses is owned by women. [10]

Women run 40% of microbusinesses in the UK as of 2022. [11]

8 of 10 million small to mid-sized businesses have at least one female owner in developing nations. [9]

The current state of female entrepreneurship across the globe suggests that Latin America and Caribbean areas have the highest share (50%) of women among principal owners. [10]

East Asia has up to 47% female representation in female business entrepreneurship, while South Asia has the lowest number of women-owned businesses worldwide(18%). [10]

share of women-owned businesses

FAQs

Which places have the most women entrepreneurs?

It is interesting to note that not very famous and less populated places have the highest number of women entrepreneurs. These countries have a lack of employment and female entrepreneurship is necessity-driven. Angola is the country with the most women entrepreneurs at 40.7%. 

Of innovation-driven countries Chile has the most women entrepreneurs at 32.4%. Next in line is America with 16.6%.

What challenges are faced by women in business?

The major challenges faced by female entrepreneurs include lack of financial support, work-life balance, and encouragement. 

How covid has impacted women entrepreneurs?

Women-owned businesses were hit hardest during the pandemic with 49.12% of women facing a crisis. 31% of women entrepreneurs believe that they are not sure of the pandemic’s effect as they were able to operate online. 

20.18% of women admitted that the effect of the pandemic on their business is over. 

Which industry has the highest number of women entrepreneurs?

Healthcare and social assistance industries have the highest number of women entrepreneurs

WrapUp

Women entrepreneurs are slowly closing the gender gap. Though the number of women entrepreneurs is increasing they are not receiving equal treatment from investors and bankers. They still struggle to get large-size loans.

While some sectors like health care and social assistance have high women representations, women are still not trusted with higher positions in the tech sector. Women in the US are generating $1.8 trillion per year. Their success and credit score is significantly increasing but is very low compared to male and still have a long way to go.

Sources

  1. Convoy of Hope. Empowering Women in Business
  2. Nwbc.gov. NWBC Annual Report
  3. Commerce.gov. Women-owned businesses
  4. Biz2credit.com. Women-owned businesses study
  5. Forbes. Revenues profits of companies owned by women decreased during 2021
  6. Grant Thornton. Women in business
  7. Mercer. Next-generation global research- when women thrive
  8. GuidantFinancial. Small business trends-2023  women in business
  9. World Bank. Women entrepreneurs Fiance Entrepreneurs
  10. World Bank. Female entrepreneurship resource point introduction
  11. Go Daddy. Venture forwards UK 2022
  12. Wbenc. Behind the Numbers: The State of Women-Owned Businesses in 2018
  13. Gemconsortium. New GEM Women Entrepreneurship Report
  14. Cdn. advocacy. Small business facts women-owned business
  15. Statista. India and China register few female entrepreneurs
  16. Crunchbase. Something ventured black women founders
  17. Nawbo. Women business owner statistics
  18. Earthweb. Women entrepreneurs statistics

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