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Posted By - Kate Spencer On May 17, 2016

2016 State of Women-Owned Businesses Report Highlights

In an annual report commissioned by American Express OPEN that is now in its sixth year, the “2016 State of Women-Owned Business Report” provides insight that informs policymakers, entrepreneurial organizations and business owners.

During the 2016 Cherry Bombe Jubilee, every attendee received a copy of the report. Many of the people in the audience - and people celebrated in the pages of Cherry Bombe Magazine - are small female owned businesses. And the community is growing.

Highlights include:

There are 11.3 million women-owned businesses in the United States, employing 9 million and generating $1.6 trillion in revenue.

Women own 38% of all businesses in the United States and start an average of 1,072 net new firms. Each Day.

Eight of the Ten Fastest Growing States and Metro Areas for Women-Owned Firms are in the SOUTH, with a special shout out to our friends in:

CHARLOTTE

SAN ANTONIO

DALLAS

MEMPHIS

AUSTIN

INDIANAPOLIS

MIAMI

DETROIT

RICHMOND

HOUSTON

Businesses owned by women of color are one of the fastest growing sectors in the US economy.

American Express is a huge supporter of small businesses, providing products and services to help all of us run and grow our businesses. 

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