The entrepreneurial woman’s career model: current research and a typological framework

The Center for Women’s Business Research estimates women are now the majority owners in 6.7 million privately held businesses in the United States and equal owners in another 4.0 million firms. When part owners in multiple businesses are included the female ownership total climbs to an estimated 15.6 million businesses. Women majority owners account for nearly half (48 per cent) of the privately‐held firms in the United States. Their businesses generate $2.46 trillion in sales. They employ 19.1 million people and spend an estimated $492 billion on salaries and $54 billion on employee benefits. The number of women‐owned firms increases at twice the rate of all new firms (14 per cent versus 7 per cent) and the number of employees nearly as fast (30 per cent versus 18 per cent). Women owners are rapidly moving into all industries, with the fastest growth percentages in the fields of construction (30 per cent), transportation, communications and public utilities (28 per cent) and agricultural services (24 per cent). Worldwide, with women entrepreneurs in under developed countries leading the way, women‐owned firms now comprise between one‐fourth and one‐third of all businesses. Given the numbers, it would be almost impossible to overestimate the impact of women owned businesses in today’s global economy.