CFWBR releases 2007 research on woman-owned businesses

The most widely distributed source of facts on women-owned businesses was released today by the Center for Women’s Business Research. The pocket-sized foldout contains the top line findings from current research by the center and is expanded this year to also include facts from related research.

“Key Facts about Women-Owned Businesses – 2007 Update,” is underwritten by the Massachusetts Mutual Life Insurance Company.

“The Center for Women’s Business Research launched the ‘fact card’14 years ago,” said Margaret M. Smith, chair, CFWBR. “Since then, it has expanded from four panels to 10 panels of the most up-to-date knowledge about womenowned businesses.Today, it is one of our signature products and is always in high demand.Everyone from researchers,government officials, business representatives and reporters know that if they have this card, they have a good overview of the status and significance of this nation’s 10.4 million women-owned businesses at their finger tips.”

In addition to the number of womenowned firms, the fact card contains the following facts, among others:

• HWomen-owned firms employ nearly 13 million people and generate $1.9 trillion in sales.
• Between 1997 and 2006, the majority of women-owned firms (51 percent or more women-owned) grew at twice the rate of all firms (42 percent vs. 24 percent).
• The vast majority (83 percent) of women business owners are personally involved in selecting and purchasing technology for their businesses.
• Women owners of firms with revenues of $1 million or higher embrace financial measurements as management tools and produce more financial reports more often than smaller firms.
• There are 2.4 million firms owned 50 percent or more by women of color in the United States, employing 1.6 million people and generating nearly $230 billion in sales.
• More than two-thirds (67 percent) of women business owners choose financial products and services based on their relationship and experience with a lender.

“The fact card speaks to the increasingly important and influential roles that women play as business owners, employers, and consumers,” said Susan W. Sweetser, vice president, focus markets, MassMutual.“We’re committed to their continued success, which is why MassMutual has assumed a leadership role in serving women business owners for both their business and personal financial needs.”

“MassMutual has been a long-time supporter of the work of the Center for Women’s Business Research,” said Sharon Hadary, executive director, CFWBR. “In fact, it sponsored the first fact card, and has continued support for creating more opportunity for women-owned firms through underwriting research. We are pleased to have MassMutual sponsoring the fact card again this year.”

To obtain copies of the fact card, e-mail info@womensbusinessresearch.org or call Christopher Clark at 202.638.3060 x 718. Cost is $70.00 per packet of 100. Discounts are available for CFWBR’s corporate partners, supporters, and members of women business owner associations.To learn more about the Center for Women’s Business Research visit www.womensbusinessresearch.org.