Entrepreneurship was once considered a man's domain, but according to a 2017 national study on the state of women’s entrepreneurship, commissioned by American Express Open [i], the number of women-owned businesses has been on the rise in the United States for the last two decades. The study reports that the number of women-owned businesses has grown more than 2.5 times the national average between 1997 and 2017 – a whopping 114%, compared to a 44% increase among all businesses. It also estimated that 11.6 million women-owned businesses in the United States – a total of 39% of all U.S. private sector firms – employed 8% of the total workforce (nearly 9 million people) and generated more than $1.7 trillion in revenues.
However, according to most indicators, women lag behind our male counterparts in growing our businesses beyond $50,000 in annual gross revenue.
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