Women-owned businesses are booming in the US, reports the Center for Rural Affairs. As of 2012, there were almost ten million businesses in America owned by women. That’s a rise of almost 28 percent in just five years. Profits for these businesses were up by over a trillion dollars over the same period.
Among African-American women, the rise has been even more impressive. During the period from 2007 to 2012, business ownership by black women grew by almost 70 percent. Even more staggering: Business ownership by veteran women grew by an astonishing 206 percent over the five years.
Sole proprietorships account for 90 percent of businesses owned by women. The numbers reported come from a National Women’s Business Council analysis of U.S. Census data.