About the Women Business Owners of Northern Virginia

• Women-Owned Businesses are important to Virginia. Today, it is estimated that there are over 100,000 women-owned firms in Virginia.
• Recent census data shows that women-owned firms comprise approximately 35% of all businesses in Virginia.
• Over 30% of the women-owned business in Virginia are in Northern VA Planning District (PDC) #8 (map) -- which includes counties Arlington, Fairfax, Loudoun, and Pr. William and cities Alexandria, Fairfax, Falls Church, and Manassas.
• The number of women-owned firms in the United States has grown at nearly twice the national average in the last decade.
• Women business owners in the United States employ 18.5 million workers, more than Fortune 500 companies do worldwide.

Virginia Department of Business Assistance
Virginia Women's Business Enterprise (VaWBE) Program
http://www.dba.state.va.us/mwbusinesses/wob.asp

From the Women-owned Businesses in Virginia, 2002: Fact Sheet (based on U.S. Bureau of Census)
Center for Women’s Business Research,

• As of 2002, there are an estimated 148,893 majority-owned, privately-held women-owned firms in Virginia, accounting for 30% of all privately-held firms in the state.
• Between 1997 and 2002, the Center estimates that the number of women-owned firms in Virginia increased 13%, employment grew by 31%, and sales increased 45%.
• Women-owned firms in Virginia employ over 226,000 people and generate over $25.4 billion in sales.
• Among the fifty states and Washington, DC, Virginia ranks 13th in the number of women-owned firms in 2002, 11th in employment, and 11th in sales.
• For more info http://www.womensbusinessresearch.org/StateMetroReports.html

Center for Women's Business Research, founded as the National Foundation for Women Business Owners, is the premier source of knowledge about women business owners and their enterprises worldwide.
http://www.womensbusinessresearch.org/

From the Women-Owned Businesses in 2002: Trends in the US
Center for Women's Business Research,

• As of 2002, there are an estimated 6.2 million majority-owned, privately-held women-owned firms in the U.S., employing 9.2 million people and generating $1.15 trillion in sales.
• Between 1997 and 2002, the Center estimates that the number of women-owned firms increased by 14% nationwide twice the rate of all firms, employment increased by 30% -- 1-1/2 times the U.S. rate, and sales grew by 40% -- the same rate as all firms in the U.S.
• Nearly 3/4 (72%) of women business owners have investments in stocks, bonds or mutual funds, compared to 58% of working women.
• 86% of women entrepreneurs say they use the same products and services at home that they do in their business, for familiarity and convenience.
• Women-owned businesses are just as financially strong and creditworthy as the average U.S. firm, with similar performance on bill payment and similar levels of credit risk.
• Women business owners are philanthropically active: seven in 10 volunteer at least once per month; 31% contribute $5,000 or more to charity annually; 15% give $10,000 or more. Women business owners are more likely than men to serve in leadership positions in their volunteer pursuits.
• The workforce of women-owned firms shows more gender equity. Women business owners overall employ a roughly gender-balanced workforce (52% women and 48% men), while men business owners employ, on average, 38% women and 62% men.
• Women and men business owners are equally likely to be using the Internet for business – 61% of women and 55% of men use the Internet for business. Among Internet users, 50% of women- and 54% of men-owned firms have web sites.
• Most women- and men-owned firms are engaged in e-commerce, but are more likely to purchase goods and services for their business (75% of women, 74% of men) than to sell their products or services online (52% and 51%, respectively).
• A new generation of women has emerged – women who have started their businesses within the past 10 years have more managerial experience, education, and have the same overall business revenue and employment profiles as women who have been in business 20 years or more. They are more similar to their male cohorts in these respects, and are also more growth-oriented than women who have been in business longer.
• Women and men business owners have different management styles. Women are less hierarchical, may take more time when making decisions, seek more information, and are more likely to draw upon input from others – including fellow business owners, employees and subject-matter experts.

Additional new studies

• Number of minority women-owned firms to reach 1.2 million in 2002
• Number of Women-Owned Businesses Expected To Reach 6.2 Million in 2002
• Women-owned firms demonstrate increasing economic power
• Women and men business owners increase reliance on the Internet
• Women Excel in Tough Times.

Center for Women's Business Research, founded as the National Foundation for Women Business Owners, is the premier source of knowledge about women business owners and their enterprises worldwide.
http://www.womensbusinessresearch.org/