Breaking News

Women's best advice for running a business

Category: Finance

The number of women-owned businesses is on the rise.

Four in 10 businesses in the U.S. are now majority-owned, operated and controlled by women, according to the latest State of Women-owned Businesses report from American Express.

That's a total of 12.3 million companies — or 58 percent more than the number that existed just over a decade ago. In contrast, the number of businesses with majority-male or shared ownership grew 12 percent in that period.

Last year alone, 1,821 new women-owned businesses opened in the U.S. each day.

The shift marks a major step forward for women entrepreneurs across the country. However, there remains progress to be made. Women-owned businesses continue to lag behind in other metrics, employing just 8 percent of the private sector workforce and contributing 4.3 percent of total revenues.

Often, that means women business-owners can be the sole employee of their company and annual revenues can struggle to surpass $100,000.

So, how can women entrepreneurs make sure their company goes the extra mile and breaks through those boundaries? CNBC Make It spoke to successful women business owners to find out their advice.


Source link

No comments