AmEx report: N.H. sixth in nation for growth of women-owned businesses
The nearly 40,000 women-owned businesses in New Hampshire are expected to generate $7.6 billion in revenue this year -- more than double the amount 16 years ago
The nearly 40,000 women-owned businesses in New Hampshire are expected to generate $7.6 billion in revenue this year -- more than double the amount 16 years ago. It was a growth rate that was exceeded by only five other states in the nation, according to a report based on U.S. Census data by American Express OPEN.
Indeed, in all measures, New Hampshire ranked 15th in terms of the growth of women’s entrepreneurial economic clout during that period -- higher than any state in New England. Vermont and Maine were among the worst.
The share of women-owned firms in New England is slightly below the rest of the nation, though they have the same share of workers and a much bigger slice of the revenue.
In 2013, an estimated 39,700 women-owned firms in New Hampshire (45.6 percent more than 16 years ago) employed 38,500 workers (up 13.5 percent) with sales of $7.6 billion (up 145 percent).
Nationwide, the 8.6 million women-owned firms account for 29.4 percent of all businesses and employ 7.75 million people, accounting for $1.3 trillion in sales.
While the share of women-owned firms nationally has grown, it hasn’t been by much. Sixteen years ago, women-owned firms accounted for 26 percent of all businesses. They had 6.8 percent of the employees and 4.4 percent of the revenue.
In New Hampshire, women-owned firms account for 27 percent of all businesses. They employ 6 percent of the workforce and account for 6 percent of total revenue, according to Julie Weeks, a research adviser on the report.