Number of Businesses Owned by Women of Color Soars

Women of Color Business OwnersThe number of businesses owned by women of color has increased rapidly since 1997 when there were just under one million. Today, that number has more than doubled to an estimated 2,934,500 accounting for one in three (32%) of women-owned firms.

While firms owned by women of color are smaller than non-minority women-owned businesses both in terms of average employment and revenues, their growth in number and economic clout is generally far outpacing that of all women-owned firms, according to the 2014 State of Women-Owned Businesses Report, commissioned by American Express OPEN.

Below are highlights from the report around firms owned by women of color:

A news release announcing the results of the 2014 State of Women-Owned Businesses Report, commissioned by American Express OPEN is available online here