gettyOctober is National Women’s Small Business Month, an initiative focused on promoting female-led business operations. Despite this year’s challenges, the 2019 State of Women-Owned Businesses Report indicated upward growth in the world of female-helmed businesses. Findings from the research indicate there are nearly 13 million women-owned businesses in the US that employ 9.4 million people and generate $1.9 trillion in sales. Additionally, women-owned businesses grew 21% between 2014 to 2019, while businesses owned by women of color doubled that growth rate: As of 2019, women of color accounted for 50% of all women who owned businesses. More gender diversity in the retail business sector means more opportunities for a variety of voices and perspectives to be shared with consumers.

Source: Forbes October 08, 2020 15:00 UTC