According to recent data released by American Express Open Forum, women owned businesses in New York are on the rise. The data was part of a study analyzing recent census reports. Since 1997 women owned businesses in New York are up %71.1 to 674,200 firms.
The industries with the largest concentration of women-owned businesses, according to the American Express report, are health care, which has a 52.9% share within the industry; education, with a 45.2% share; and retail, which has a 34% share of the industry.
The report also says that the greatest amount of growth pains occur for women-owned firms that are generating between $250,000 and $499,999 and have between five and nine employees. A reason for this could be a lack of funding as many VCs are still more likely to fund companies run by men.
The nation is also seeing a large jump in women-owned businesses—in the U.S., there are more than 8.3 million, up 54% since 1997.
You can download the full PDF here American Express State of Women Owned Businesses
If you’re a young women running a company in NYC we want to hear from you! Apply to What’s Next NYCSubscribe to the Podcast