Current Trends of Small Business Ownership

This month’s SCORE infographic highlights the current trends of small business ownership. It also identifies the growing impact of female and Latino entrepreneurs on the economy and employment.

The number of women-owned businesses is growing 1.5 times faster than the national average.

From 1997 to 2014, men-owned businesses showed a:

  • 34.4% increase in number of companies
  • 6.5% decrease in employment
  • 45.1% increase in revenues

During the same time period, women-owned businesses showed a:

  • 67.8% increase in number of companies
  • 11% increase in employment
  • 72.3% increase in revenues

Flower Infographic

9.1 million women-owned businesses hire 7.9 million employees (other than the owners) and generate $1.4 trillion in annual revenue. The highest industry concentration is in health care and social assistance, educational and other professional services.

…And more and more businesses are owned by women of color

Ownership Growth

Business ownership by women of color increased from 1 million in 1997 to 3 million in 2014. These businesses increased:

  • 193% in number of companies
  • 216% in revenue

The growth of Latino-owned businesses is up 43% since 2007.

Latinos open small businesses at a rate 2 times the national average. Number of Latino-owned businesses:

  • 1.57 million in 2002
  • 2.26 million in 2007
  • 3.22 million in 2014

Download this month’s SCORE infographic for more details. To start or nurture your own small business, work with a SCORE mentor for free.

Bridget Weston Pollack
<div> <span style="font-size: 13px; line-height: 18.0049991607666px; text-align: justify;">Bridget Weston Pollack is the Vice President of Marketing & Communications at the SCORE Association. In this role, Bridget is responsible for all branding, marketing, PR, and communication efforts. She focuses on implementing marketing plans and strategies for the organization to facilitate the growth of SCORE’s mentoring and trainings services.</span></div> <div> <a href="http://www.score.org" target="_blank">SCORE.org</a> | <a href="http://www.facebook.com/SCOREFans" target="_blank">Facebook</a> | <a href="http://twitter.com/scorementors" target="_blank">@SCOREmentors</a> | <a href="https://www.score.org/author/Bridget-Weston-Pollack/all-posts">More from Bridget</a></div>

Comments

Very informative article

Very informative article Aliana, thanks for sharing..

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