Slow growth in the number of women-owned businesses in Vermont

Article published on VBM website, June, 2, 2015.

Vermont is below the US average in the percentage of women-owned businesses and near the bottom in the growth of such businesses since 1997. Vermont has an estimated 23,300 women-owned firms, employing 13,200 and attributing to roughly $2,062,300 in revenues according to the fifth annual State of Women-Owned Businesses Report, commissioned by American Express OPEN, a comprehensive report released today analyzing the 1997, 2002, and 2007 data from the US Census Bureau’s quinquennial business census, the Survey of Business Owners. Vermont is ranked 46th (36.8%) in growth of number of firms over the past 18 years and 42nd (57.1%) in growth of firm revenue between 1997 and 2015.

Nationally, the number of women-owned businesses has increased 74% since 1997. Much of that growth has been driven by multicultural enterprises.

Similar to previous annual reports released this time last year, the unique analysis, reported by industry, revenue and employment size at the national and state levels, shares a new and nuanced investigation into the growth trends among the 9.4 million women-owned enterprises over the past 18 years.

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