U.S. Women’s Chamber of Commerce Reports on Massive
Opportunity Loss for Women-Owned Businesses
WASHINGTON, DC, January 12, 2015 -- Today, the U.S. Women’s Chamber of
Commerce issued a detailed statistical report (http://uswcc.org/wake-up-call) and wake-up call highlighting the disparity between
the number of women business owners in America and their business revenues.
This report, derived from the recently released2012 U.S. Census Survey of
Business Owners details the stark reality: women business owners are
failing to achieve revenues on par with male-owned firms.
Women own 9.9 million U.S. firms representing 35.76% of all firms and
generate $1.4 trillion in revenues annually. But, women-owned firms produce
only 4.23% of all U.S. revenues. 70% of women-owned firms have less than
$25,000 in revenues annually. Only 1.74% have revenues over one million. Only
10% have paid employees. And, between 2007 and 2012, the average receipts
generated by women-owned firms dropped by nearly $10,000 annually. Firms owned
by women of color are even more challenged: while 28% of all women-owned firms
are owned by women of color, they secure only 14% of all women-owned revenues.
“The obstacles to growth facing women business owners are dramatically
impacting their business revenues and profits,” states Margot Dorfman, CEO of
the U.S. Women’s Chamber of Commerce. “These struggles translate into massive
opportunity losses for business owners, their employees, families and
communities. It behooves every American to call upon political, governmental
and business leaders to take action to open the doors to opportunity for
women-owned firms.”
Recently, Maria Contreras-Sweet, chief of the Small Business Administration
(SBA), told the U.S. House Small Business Committee that the proof of the
quality job the SBA is doing for America “is in our record breaking
performance.” The U.S. Women’s Chamber of Commerce, speaking on behalf of the
nearly ten million women business owners of America, begs to differ. Accepting
these abysmal financial outcomes as proof of a record breaking performance
totally ignores the broader financial realities: women business owners are
struggling for revenues and profits.
“Until American political and industry leadership respond aggressively to
this 'wake-up call,' trillions of dollars of potential business output will be
wasted,” states Dorfman. “We call upon these leaders to end the feel-good media
hype and work to open more doors to opportunity for women business owners.”
About The U.S. Women's Chamber of Commerce
(USWCC)
The USWCC is the leading advocate for women on economic and leadership
issues. As the economic leader for women, the USWCC creates
opportunities, drives progress, advocates, and provides tools and solutions to
support the economic growth of women cross America. The USWCC (uswcc.org) is a
not-for-profit 501(c)6 organization founded in 2001 with over 500,000 members;
its headquarters offices are located in Washington, D.C. Contact the
USWCC at 888-418-7922.
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