SCORE releases new survey data on the success of women’s entrepreneurship

SCORE, the nation’s largest network of volunteer, expert business mentors, has published original survey data on the state of U.S. women’s entrepreneurship in honor of the upcoming National Small Business Week. Data collected from 20,000 small business owners shows that women-owned businesses are equally as successful as men-owned businesses across all independent measures of business success, including business starts, revenue growth, job creation and number of years in business.

Key findings include: 

• Women are more likely than men to start businesses, with 47% of women in the pre-start or idea phase of business ownership following through on starting a business in the past year, compared to only 44% of men.
• Women-owned businesses reported nearly the same amounts of anticipated revenue growth in 2018. 57% of women entrepreneurs predicted an increase in revenue growth, while 15.5% predicted revenues would stay the same, and 9% predicted a decrease in revenues. In comparison, 59% of male entrepreneurs predicted an increase in revenue growth, while 15.5% predicted revenues would stay the same, and 9.5% predicted a decrease in revenues.
• Women were significantly more likely to launch service businesses.Female-led businesses were more likely to be in professional services, retail, healthcare (10% of women-owned businesses vs. 5% of men-owned businesses) and education (9% of women-owned businesses vs. 5% of men-owned businesses). Male-owned businesses were more likely to be in construction and manufacturing (12% of men-owned businesses vs. 4% of women-owned businesses).
• Both men and women-owned businesses had comparable longevity – with the exception of very established businesses. 17% of male respondents owned a business 20 years or older, compared to only 13% of female respondents.
• Women-owned businesses reported slightly lower levels of employee hiring, with 27% of women-owned businesses reporting an increase in hiring, compared to 30% of men-owned businesses.

For more information, download the The Megaphone of Main Street: Report on Women’s Entrepreneurship and its accompanying infographic.

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To learn more go to: Resources for Women Entrepreneurs