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 2nd in growth of number of women-owned firms over the past 20 years with a 208.3% increase, 20th in growth of jobs created with a 33.8% increase and 26th in growth of firm revenues with a 96.7% increase.
Orlando, FL is ranked 3rd 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, 6thin growth of jobs created with a 58.6% increase and 48th in growth of firm revenues with a 22.4% increase.
Miami, FL is ranked 6th 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, 36thin growth of jobs created with a 19.2% increase and 15th in growth of firm revenues with a 93% increase.
Tampa, FL is ranked 11th 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, 29thin growth of jobs created with a 26.2% increase and 32nd in growth of firm revenues with a 60% increase.
Jacksonville, FL is ranked 17th 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, 19th in growth of jobs created with a 39.3% increase and 39th 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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