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 | ||||
| 2002 | 2007 | 2012 | 2016 (est.) | ||
| Total US | |||||
| Number of Firms | 6,489,483 | 7,793,139 | 9,878,397 | 11,313,900 | 45.2% |
| Employment | 7,146,229 | 7,579,876 | 8,431,614 | 8,976,100 | 18.4% |
| Sales ($000) | $940,774,986 | $1,202,115,758 | $1,419,834,295 | $1,622,763,800 | 35.0% |
| Massachusetts | |||||
| Number of Firms | 161,918 | 178,114 | 199,210 | 208,300 | 16.9% |
| Employment | 173,368 | 167,928 | 178,196 | 179,400 | 6.8% |
| Sales ($000) | $23,133,981 | $25,487,227 | $28,855,145 | $30,253,400 | 18.7% |
