18 Girl Boss Facts That'll Make You Proud to Be a Woman in Business

“Women are powerhouse entrepreneurs.” - President Obama

The #GirlBoss herself, Sophia Amoruso
The #GirlBoss Herself, Sophia Amoruso, NastyGal.com | Photo: Chad Pitman

“It is she who has enough confidence to define success and failure for herself who succeeds.” - Sophia Amoruso

1. As of 2016, there are an estimated 11.3 million women-owned businesses in the United States, employing nearly 9 million people, and generating $1.6 trillion in revenue.1

2. Over the past nine years, the number of women-owned businesses has grown at a rate five times faster than the national average.1

3. Since 2007 there have been 1,072 net new women-owned businesses started each day.1

4. Women are now the majority owners of 38% of U.S. businesses.1

5. One in five businesses with revenue of one million dollars or more is woman-owned.1

6. In 1965, just 1.2% of graduates from the class of 1965 at Harvard Business School were women. In 2017, that number will reach 41%.2

Girl Boss: Ming Lee, SnobLife.com
Girl Boss: Ming Lee, SnobLife.com

7. Businesses owned by women of color have more than doubled since 2007, increasing by 126%.1

8. Nearly eight out of every ten (79%) net new women-owned businesses launched since 2007 has been started by a woman of color – that’s an average of 842 each day for the past nine years.1

9. Among women of color, Latinas are leading the way in growth in number of businesses, while Asian American women lead in employment and revenue growth.1

Girl Boss: Chelsea Leifken, ChelseaLeifken.com
Girl Boss: Chelsea Leifken, ChelseaLeifken.com

10. 90% of female customers in the U.S. would go out of their way to purchase products from women, believing they would offer higher quality.3

11. Companies with boards that include at least 3 women with sustained representation on the board outperform those with no women board directors with 66% higher return on invested capital, 53% higher return on equity, and 42% higher return on sales.2

12. On average, the likelihood of success of venture-backed companies increases with more women in high ranking positions. The overall median proportion of female executives is 7.1% at successful companies and 3.1% at unsuccessful companies.4

13. Firms with one or more women executives are more likely to turn a profit, go public, or sell for greater money than raised.4

Girl Boss: Necole Kane, xoNecole.com
Girl Boss: Necole Kane, xoNecole.com

14. No matter which crowdfunding platform they choose, female founders perform equal to or better than their male counterparts when raising money online.5

15. Venture capital firms with women partners are more than twice as likely to invest in companies with a woman on the executive team, and are more than three times as likely to invest in companies with women CEOs.5

Girl Boss: Destiney LaVonia, @MomCrushMonday (IG)
Girl Boss: Destiney LaVonia, @MomCrushMonday (IG)

16. In the United States, women with working mothers earn 23% more than women whose mothers did not work.2

17. A 2010 meta-analysis of 69 studies over 50 years found that in general, children whose mothers worked when they were young had no major learning, behavior or social problems, and tended to be high achievers in school and have less depression and anxiety.6

18. In 25 countries, sons of working mothers spent an additional hour a week caring for family members and 17 minutes more per week on housework — which research has found increases women’s labor force involvement and might lead to more stable marriages.7

“Net New” takes into account the number of business births minus business deaths or changes in ownership resulting in the loss of woman-owned status.

Sources:

  1. The 2016 State of Women-Owned Businesses Report, by American Express OPEN
  2. Women, Work, and What’s Next (Infographic), by Women Rising
  3. 10 Million Strong, The Tipping Point for Women’s Entrepreneurship, 2015 Annual Report, by National Women’s Business Council
  4. Women at the Wheel: Do Female Executives Drive Start-Up Success?, by Dow Jones VentureSource
  5. 30 Surprising Facts About Female Founders, INC.com
  6. Maternal Work Early in the Lives of Children and Its Distal Associations With Achievement and Behavior Problems: A Meta-Analysis
  7. Mounting Evidence of Advantages for Children of Working Mothers, NewYorkTimes.com, citing Harvard, and the International Social Survey Program

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