Just-released State of Women-Owned Businesses Report, commissioned by Amex OPEN, found that Massachusetts has an estimated 208,300 women-owned firms, employing 179,400 and attributing to roughly $30,253,400.
Nationally, the number of women-owned firms increased by 45% to 11.3 million enterprises, compared to just a 9% increase among all businesses since 2007. Therefore, over the past nine years, the number of women-owned firms has grown at a rate fully five times faster than the national average.
Massachusetts is ranked 49 with 16.9% in growth of number of firms over the past nine years and 40 with 18.7% in growth of firm revenue between 2007 and 2016.
Below is a table comparing Massachusetts’s women-owned firms’ data to the national numbers:
|Growth of Women-Owned Firms 2002-2016|
|Women-Owned Firms||% Change, 2007-2016|
|Number of Firms||6,489,483||7,793,139||9,878,397||11,313,900||45.2%|
|Number of Firms||161,918||178,114||199,210||208,300||16.9%|