Changing the Narrative
In today’s business climate, small businesses and DEI (diversity, equity and inclusion) challenges are frequent topics of discussion. This can feel paradoxical—99% of all businesses in the United States are small businesses. The U.S. economy could not thrive, or even function as it does, without them.
Among these are millions of enterprises founded by women. Under WBENC (Women’s Business Enterprise National Council) certification standards, a company qualifies as women-owned with at least 51% ownership by women. This means women-owned businesses can also include male partners while still meeting certification requirements. In this way, our organization has always embodied and championed inclusion.
The facts* speak for themselves:
- 43.2% of small businesses are women-owned.
- Women-owned small businesses generate $388.1 billion in annual revenue.
- They employ 10.1 million workers nationwide.
- Female-owned businesses grew 0.6% since 2023 and 21% over the past five years.
- More than 1,800 new women-owned companies are launched each day in the U.S.
Here at GWBC, our 1,500 certified women-owned businesses contribute more than $11 billion in revenue and support 54,000 jobs across Georgia, North Carolina and South Carolina.
Despite these remarkable contributions and growth, women business founders still face gender-based disparities:
- The average loan size for women-owned firms is 50% smaller than for male-owned firms.
- Only 2.4% of U.S. venture capital funding goes to female founders.
The progress is undeniable—but so are the challenges. Supporting and investing in women-owned businesses is not just an equity imperative; it is essential to the continued strength and success of our economy. The data is clear: when women-owned businesses thrive, communities and economies thrive.
Always in your service!
Roz Lewis