Breaking Through: Harnessing the Economic Potential of Women Entrepreneurs

Mon, 2016-03-14 13:59

With support from Capital One’s Future Edge initiative, the Center for an Urban Future recently released “Breaking Through: Harnessing the Economic Potential of Women Entrepreneurs” – a new report exploring the impact women-led businesses have had on local economies across the country. The report features the contributions Grameen America has made in New York City towards empowering women entrepreneurs.

Key findings include:

  • In terms of the overall numbers of women-owned businesses, New York City tops the list, with 413,899—more than double that of the second-ranked city, Los Angeles (192,358). Chicago ranks third with 123,632 women-owned firms, followed by Houston with 102,813 and Dallas with 52,798.
  • Over the last decade, from 2002-2012, the number of women-owned businesses in the United States increased by 52 percent. This amounts to 928 new businesses every day, adding over 1,290,245 jobs and $90,191,545 billion in payroll to the nation’s economy.
  • If only one quarter of the existing 8,842,742 women-owned businesses in the United States with no employees added a single employee in the next three years, it would result in more than 2.2 million new jobs.
  • According to the 2012 U.S. Census, New York City ranks 19th among the nation’s 25 largest cities in the growth of women-owned firms and 18th in average sales.
  • Women-owned businesses now make up more than 40 percent of private companies in New York City, up from 33 percent 5 years ago and 32 percent a decade ago.
  • Over the last 5 years, the number of women-owned businesses in NYC increased by 36 percent, while the number of male-owned businesses increased by just 8 percent during the same period.

Tweet With Us

Recent Stories

Grameen America is the fastest-growing microfinance organization in the United States. To keep up with our rapid growth and provide the best services... read more
7.jpg Irene has had Eli & Eli Carpet in Queens, New York City, for 15 years now, and the store has nearly reached... read more
debit card pic.JPG Grameen America is quickly advancing the technology we use for our loan transactions, benefiting... read more