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For Immediate Release
Contact: Joanne Randolph, President & CEO
Phone: 256-535-2038
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Alabama Ranks #8 in Growth of Woman-Owned Firms
[HUNTSVILLE, AL] - Women are starting 1,288 (net) new businesses per day, which is double the rate from only three years ago, according to the 2014 State of Women-Owned Businesses Report, commissioned by American Express OPEN. The report includes detailed analysis of data from the U.S. Census Bureau and finds that during the past 17 years, the number of women-owned businesses has increased at 1.5 times the national average.
"The report clearly shows that women are choosing the path of entrepreneurship at record rates."
"I am not surprised that Alabama ranks 8th in the nation in the growth in the number of women-owned firms, while Alabama ranks 38th in employment growth and 30th in revenue growth," says Joanne Randolph, President & CEO of the Women's Business Center of North Alabama (WBCNA). "The number of women we are seeing in North Alabama that are starting a business continues to grow year after year."
Below is the data tables for the US and Alabama.
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Trend in Women-Owned Firms by State, 1997-2014
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Women-Owned Firms
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% Change, 1997-2014
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1997
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2002
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2007
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2014 (est.)
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Total US
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Number of Firms
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5,417,034
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6,489,483
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7,793,139
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9,087,200
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67.8%
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Employment
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7,076,081
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7,146,229
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7,579,876
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7,854,200
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11.0%
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Sales ($000)
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$818,669,084
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$940,774,986
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$1,202,115,758
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$1,410,940,800
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72.3%
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Alabama
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Number of Firms
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69,515
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81,821
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107,481
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122,400
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76.1%
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Employment
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97,966
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96,235
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100,695
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101,800
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3.9%
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Sales ($000)
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$10,230,379
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$11,435,046
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$14,939,027
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$16,784,800
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64.1%
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As daily business creation hits a record pace, the number of women-owned firms reached a new milestone in 2014. The fourth annual report estimates that there are more than 9.1 million women-owned businesses in the United States (compared to 8.6 million in 2013). These businesses generate more than $1.4 trillion in revenues, employ 7.9 million people and account for 30% of all enterprises.
During the past 17 years, women-owned businesses have steadily increased their influence on the U.S. economy. Since 1997 women-owned firms have:
- increased in number by 68%,
- grown revenues by 72%, and
- added 11% more jobs.
With regards to job creation, these businesses have emerged from the recent recession as second only to publicly-traded companies in U.S. with 274,000 net new jobs since 2007.
About American Express OPEN
American Express OPEN is the leading payment card issuer for small businesses in the United States and supports business owners and entrepreneurs with products and services to help them run and grow their businesses. This includes business charge and credit cards that deliver purchasing power, flexibility, rewards, savings on business services from an expanded lineup of partners and online tools and services designed to help improve profitability. Learn more at www.OPEN.com and connect with us at openforum.com and twitter.com/openforum.
The WBCNA, in partnership with the Chamber of Commerce of Huntsville/Madison County, helps small businesses to get started and to grow.
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 As the lead economic development organization for Huntsville/Madison County, the Chamber provides comprehensive assistance for business expansion and recruitment. Chamber professionals deliver critical information including available sites, labor force, workforce development, taxation, finance programs and incentives. Chamber members benefit from networking events, electronic and printed publications, educational programs for small business and perhaps most importantly, the knowledge they are part of a collective effort to establish Huntsville/Madison County as a stronger, more visible community in the nationwide competition for economic growth. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance. Contact Joanne Randolph at WBCNA, 225 Church Street Huntsville, Alabama 35801, or by phone at 256-535-2038 or email info@wbcna.org.  The BBB is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Businesses that earn BBB accreditation contractually agree and adhere to the organizations high standards of ethical business behavior. The BBB provides objective advice, free business BBB Reliability Reports, charity BBB"Wise Giving" Reports, and educational information on topics affecting marketplace trust. To further promote trust, the BBB also offers complaint and dispute resolution support for consumers and businesses when there is difference in viewpoints.
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