In the race for economic growth, women are taking the lead. Women-owned businesses in Columbus and 49 other top U.S. metropolitan areas continue to grow faster than the overall economy, according to statistics released in June by the National Foundation for Women Business Owners and Wells Fargo [see chart below].
This year, there are an estimated 55,800 women-owned firms in our city, which equals 38 percent of all firms in the Columbus metropolitan area. Those women-owned firms employ 182,200 people and generate more than $16 billion in sales.
Other statistics from the National Foundation for Women Business Owners:
- Between 1992 and 1999, the number of women-owned firms in Columbus has increased 50 percent, employment within those firms has grown 123 percent and sales by women-owned businesses have risen 115 percent. Statistics from all 50 top metropolitan areas in the country show growth in the number of women-owned businesses, ranging from 33 to 59 percent.
- Throughout Ohio, the number of women-owned firms has increased 44 percent, employment in those firms has grown 116 percent and their sales have increased 136 percent during the same time period.
- Columbus ranks 37th out of the top 50 metropolitan areas in the number, employment and sales of women-owned firms. The top five: New York, Los Angeles-Long Beach, Chicago, Philadelphia-N.J., and Houston. The top 10 states: California, New York, Florida, Texas, Illinois, Pennsylvania, Ohio, Georgia, New Jersey and Washington and Michigan [tied for 10th].
- Columbus ranks 24th out of the top 50 metropolitan areas in percent growth of the number, employment and sales of women-owned firms between 1992 and 1999. The top five: Portland, Ore.-Vancouver, Wash.; Seattle-Bellevue-Everett, Wash.; Phoenix-Mesa, Ariz.; Houston; and Nashville, Tenn.
- Sales and employment in the service sector, which includes trade, insurance, real estate, transportation and communications, increased among women-owned firms in Columbus approximately 145 percent since 1992. The number of women-owned firms in this sector increased about 48 percent during that time.
How to reach: National Foundation for Women Business Owners, www.nfwbo.org, (301) 495-4975