J.K. Rowling, Oprah Winfrey, Sheila Johnson, Meg Whitman, and Martha Stewart may seem different on the surface, but all of these leading ladies have persevered through the competitive, male-dominated business world. Leveraging their individual talents, these women have made considerable strides for up-and-coming females who are ready to emerge as business leaders and tycoons. In the spirit of “girl power,” here are 20 informative and inspirational statistics about women in business.
Women Ruling the Corporate World
1. In 2005, there were 7 CEO’s in Fortune 500. As of May 2011, there were 12 CEO’s in Fortune 500 companies.
2. An estimated $546 billion is spent annually on salaries and benefits by women-owned businesses.
3. Approximately 32% of women business owners believe that being a woman in a male-dominated industry is beneficial.
4. The number of women-owned companies with 100 or more employees has increased at nearly twice the growth rate of all other companies.
5. The vast majority (83%) of women business owners are personally involved in selecting and purchasing technology for their businesses.
Bridging the Gender Gap
6. The workforces of women-owned firms show more gender equity. Women business owners overall employ a roughly balanced workforce (52% women, 48% men), while men business owners employ 38% women and 62% men, on average.
7. 3% of all women-owned firms have revenues of $1 million or more compared with 6% of men-owned firms.
8. Female-owned family businesses are 1.7 times more productive than male-owned family firms.
9. Women business owners are nearly twice as likely as men business owners to intend to pass the business on to a daughter or daughters (37% vs. 19%).
10. Between 1997 and 2002, women-owned firms increased their employment by 70,000, whereas firms owned by men lost 1 million employees.
11. Women and men business owners have different management styles. Women are less hierarchical, may take more time when making decisions, seek more information, and are more likely to draw upon input from others – including fellow business owners, employees and subject-matter experts.
Pushing the Economy Female Forward
12. Almost all income growth in the United States over the past 15-20 years came from women.
13. There are an estimated 10.6 million women-owned businesses – up from 6.4 million almost twenty years ago.
14. One in five firms with revenue of $1 million or more is woman-owned.
15. Women owners of firms with $1 million or more in revenue are more likely to belong to formal business organizations, associations or networks than other women business owners (81% vs. 61%).
Female Trends in Business
16. Women business owners are philanthropically active: seven in 10 volunteer at least once per month; 31% contribute $5,000 or more to charity annually; 15% give $10,000 or more. Women business owners are more likely than men to serve in leadership positions in their volunteer pursuits.
17. Women-owned firms in the U.S. are more likely than all firms to offer flex-tie, tuition reimbursement and, at a smaller size, profit sharing to their workers.
18. High net worth women business owners and executives are active and generous philanthropists. Over half contribute in excess of $25,000 annually to charity; including 19% who give $100,000 or more.
19. 86% of women entrepreneurs say they use the same products and services at home that they do in their business, for familiarity and convenience.
20. Nearly 3/4 (72%) of women business owners have investments in stocks, bonds or mutual funds, compared to 58% of working women.
Women in business have drastically changed over the past 20 years. These statistics verbalize the fact that the male-dominated business landscape continues to change every day. More and more females are becoming self-made moguls. Women-owned firms are growing rapidly and greatly contributing to the income growth in the U.S. As the latest prevailing strength in small business ownership, women entrepreneurs are taking over and making the business world a whole lot more feminine.
Join the ranks of these dedicated women by earning a degree from an accredited online MBA program.