Entrepreneurship was once an opportunity accessible only to men. Save for a handful of audacious women who defied such strict gender codes, most females historically failed to break through the barriers of the male-dominated business space. But we live in the 21st century now, an era in which women are a powerful force in society, especially in our economy.
Today, it is not only common for women to be entrepreneurs, but it also means being part of an influential group. According to an American Express OPEN-commissioned report, more than 9.4 million women-owned businesses currently operate in the U.S. Combined, those firms account for nearly a third of all privately held companies, pull in annual revenues to the tune of $1.5 trillion and provide jobs to roughly eight million workers. What’s more, they’re among the fastest-growing enterprises in the nation — increasing at a rate 1.5 times the U.S. average and topping “the growth rates of all but the largest, publicly-traded firms” in the past 18 years.
WalletHub | by Richie Bernardo