Submitted by newshound on Wed, 10/14/2009 - 15:14
Women-owned businesses generate about $3 trillion in revenue and employ 16 percent of the workforce, making them significant players in the national economy, according to researchers who conducted a benchmark study released Friday.
The study was led by the nonprofit Center for Women's Business Research with sponsorship from Women Impacting Public Policy, a nonpartisan group, and Wal-Mart, the world's largest retailer. The research provided an in-depth look at the economic impact of women-owned businesses, which were defined as privately held companies at which women held at least a 50 percent stake. According to the study, those businesses employ 23 million people, nearly double the number of the 50 biggest companies in the country combined.
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