Contributed by Cheryl Heitmann, EDC-VC Board Chair
October is National Women’s Small Business Month, which calls us to recognize the leading role that women-owned businesses play in economic vitality and social equity. According to the Small Business Administration, nearly all (99.9%) of women-owned businesses are small business, and indeed their impact is mighty. They contribute more than $1.4 trillion in sales and 6.5 million jobs. Nationally, in minority communities, the impact is even greater than in the overall population, because a larger share of minority-owned businesses are owned by women, compared to non-minority counterparts.
- Increased sales by more than $37 million
- Helped secure more than $13 million in capital
- Serviced more than 660 firms total, including 101 start-ups
- Created 430 jobs
For more data on women-owned business, visit https://www.sba.gov/sites/default/files/advocacy/Womens-Business-Ownership-in-the-US.pdf