Florida is ranked second in growth of women-owned firms says new census-based report

Florida is ranked second in growth of women-owned firms says new census-based report

Florida has an estimated 1,041,600 women-owned businesses, employing 496,800 and attributing to roughly $94.9 billion according to the seventh annual State of Women-Owned Businesses Report, commissioned by American Express OPEN, a comprehensive report released today, analyzing data from the U.S. Census Bureau’s Survey of Business Owners and factoring in relative changes in Gross Domestic Product (GDP).

The unique analysis, reported by industry, revenue and employment size at the national, state and top 50 metro levels, shares a new and nuanced investigation into the growth trends over the past 20 years among the 11.6 million women-owned enterprises which employ nearly 9 million people and generate more than $1.7 trillion in revenues.

Nationally, the number of women-owned firms increased by 114% from 1997 to 2017, compared to just a 44% increase among all businesses. Therefore, over the past 20 years, the number of women-owned firms has grown at a rate of 2.5 times faster than the national average.

Florida is ranked 2^nd in growth of number of women-owned firms over the past 20 years with a 208.3% increase, 20^th  in growth of jobs created with a 33.8% increase and 26^th in growth of firm revenues with a 96.7% increase.

Orlando, FL is ranked 3^rd in growth of number of women-owned firms among the top 50 U.S. metropolitan areas with a 208.7% increase over the past 15 years, 6^thin growth of jobs created with a 58.6% increase and 48^th in growth of firm revenues with a 22.4% increase.

Miami, FL is ranked 6^th in growth of number of women-owned firms among the top 50 U.S. metropolitan areas with a 178.5% increase over the past 15 years, 36^thin growth of jobs created with a 19.2% increase and 15^th in growth of firm revenues with a 93% increase.

Tampa, FL is ranked 11^th in growth of number of women-owned firms among the top 50 U.S. metropolitan areas with a 130.7% increase over the past 15 years, 29^thin growth of jobs created with a 26.2% increase and 32^nd in growth of firm revenues with a 60% increase.

Jacksonville, FL is ranked 17^th in growth of number of women-owned firms among the top 50 U.S. metropolitan areas with a 105.3% increase over the past 15 years, 19^th in growth of jobs created with a 39.3% increase and 39^th in growth of firm revenues with a 45.2% increase.

 

Below is a table comparing Florida’s women-owned firms data to the national numbers:

 

Growth of Women-Owned Firms 1997-2017
				Women-Owned Firms				% Change, 1997-2017
	1997	2002		2007	2012	2016 (est.)	2017 (est.)
Total US
Number of Firms	5,417,034	6,489,483		7,793,139	9,878,397	11,313,900	11,615,600	114.4%
Employment	7,076,081	7,146,229		7,579,876	8,431,614	8,976,100	8,985,200	27%
Sales ($000)	$818,669,084	$940,774,986		$1,202,115,758	$1,419,834,295	$1,622,763,800	$1,663,991,700	103.3%
Florida
Number of Firms	337,811	437,355		581,192	807,817	971,000	1,041,600	208.3%
Employment	371,412	432,071		470,466	479,203	500,000	496,800	33.8%
Sales ($000)	$48,261,328	$61,275,106		$76,867,239	$85,527,046	$96,207,600	$94,916,500	96.7%
Orlando, FL								% Change, 2002-2017
Number of Firms	—	40,270		61,699	91,290	113,200	124,300	208.7%
Employment	—	42,430		55,663	59,873	67,400	67,300	58.6%
Sales ($000)	—	$9,951,891		$11,236,372	$11,619,107	$12,335,300	$12,184,400	22.4%
Miami, FL								% Change, 2002-2017
Number of Firms	—	180,797		232,743	355,762	453,100	503,600	178.5%
Employment	—	153,586		140,608	173,160	184,100	183,100	19.2%
Sales ($000)	—	$21,645,539		$26,697,251	$34,384,858	$41,473,000	$41,773,100	93%
Tampa, FL								% Change, 2002-2017
Number of Firms	—	54,473		76,291	98,387	119,600	125,700	130.8%
Employment	—	60,301		78,771	71,419	76,800	76,100	26.2%
Sales ($000)	—	$8,458,458		$11,546,243	$12,015,335	$13,734,000	$13,531,200	60%
Jacksonville, FL								% Change, 2002-2017
Number of Firms	—	26,107		32,392	44,290	52,000	53,600	105.3%
Employment	—	26,549		31,560	34,081	37,300	37,000	39.4%
Sales ($000)	—	$3,505,033		$5,142,837	$4,674,202	$5,170,400	$5,088,400	45.2%

To flesh out your story on the state of Florida women-owned businesses, we can put you in contact with Geri Stengel, American Express OPEN research advisor, who can run through the data with you and weigh-in on key state, metro or national findings.

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