Business

North Carolina ranked 7th for growth in businesses owned by women

A bronze statue of a defiant girl faces "Charging Bull" in the Financial District of New York on International Womens Day, March 8, 2017. State Street Global Advisors, a unit of State Street Corp., installed the Kristen Visbal statue in front of Arturo Di Modica's iconic charging bull by as part of its new campaign to pressure companies to add more women to their boards.
A bronze statue of a defiant girl faces "Charging Bull" in the Financial District of New York on International Womens Day, March 8, 2017. State Street Global Advisors, a unit of State Street Corp., installed the Kristen Visbal statue in front of Arturo Di Modica's iconic charging bull by as part of its new campaign to pressure companies to add more women to their boards. Bloomberg

North Carolina has about 333,100 businesses owned by women, employing 279,700 people and generating about $39.4 billion annually, according to a recent study.

North Carolina’s number of women-owned businesses increased 138.1 percent over the past 20 years.

That puts North Carolina at No. 7 in the country in growth in the number of businesses owned by women, according to the seventh annual State of Women-Owned Business Report, which used data from the U.S. Census Bureau’s survey of business owners and factored in relative changes in Gross Domestic Product (GDP).

The study analyzed growth trends over the past two decades among the 11.6 million women-owned businesses across the United States, which employ nearly 9 million people and generate more than $1.7 trillion in revenue annually.

North Carolina is No. 27 in growth of jobs created by women-owned businesses, with a 26 percent increase in the last 20 years, and No. 44 in growth of women-owned business revenue, with a 63.2 percent increase.

VIDEO: Whitehead talks about Pink Ceiling, a business incubator she designed for women to help elevate women nicknamed Pinkubator.

Nationally, the number of women-owned businesses increased by 114 percent from 1997 to 2017, compared with a 44 percent increase among all businesses.

Over the past 20 years, the number of women-owned businesses across the United States has grown at a rate 2.5 times faster than the national average for businesses overall.

Among the top 50 U.S. metropolitan area, Raleigh ranked No. 16 in growth of businesses owned by women, with a 106.9 percent increase over the past 15 years, and was No. 15 in growth of jobs created (42.7 percent) and No. 13 in growth of firm revenue (99.5 percent).

Charlotte ranked No. 1 in growth in the number of women-owned businesses among the top 50 U.S. metropolitan areas, with a 241.6 percent increase over the past 15 years. The Queen City was No. 8 in growth of jobs created (54.7 percent increase) and No. 2 in growth of firm revenue (181 percent increase).

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