WOMEN’S businesses in the U.S. are struggling to maintain their market share according to a recent report released by the Women’s U.S. Chamber of Commerce.
The report has revealed that despite a decade of strong growth in the number of women-owned firms – women’s revenue-based market share shrank by ten per cent.
Newly released data from the Preliminary Estimates of Business Ownership by Gender, Ethnicity, Race and Veteran Status: 2007, from the U.S. Census Bureau's 2007 Survey of Business Owners alarmingly finds, even though the number of women's business grew 44% between 1997 and 2007, our already small revenues-based market share declined over 10% – dropping from 4.41% in 1997 to 3.95% in 2007.
"Women own over 7.8M firms, (28.75% of all firms in the U.S.) but secure only 3.95% of all revenues. The opportunity loss and unrewarded risk, loss of job creation, market demand, tax revenues, and potential retirement assets greatly impacts America's financial future," says U.S. Women's Chamber of Commerce CEO, Margot Dorfman.
The U.S. Women's Chamber of Commerce finds failure to access affordable capital, failure to access markets, and segregation from mainstream business development and leadership have contributed to the failure of women's businesses to achieve acceptable market share growth and has contributed to America's economic decline.
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