N.C. Sees Growth in Women-Owned Firms
A new Small Business Administration report ranked North Carolina fifth among states with the most growth in women-owned firms.
According to the report, these firms in North Carolina grew faster than the national average for women-owned businesses and significantly faster than the rate of growth for all firms.
"North Carolina provides a business climate where those with drive, ambition and vision can succeed," said Gov. Mike Easley. "We continue to earn these kinds of accolades because of our emphasis on top-quality education, worker training and infrastructure.
"Providing a workforce with the knowledge, talent and skill employers need to compete in the global economy brings high quality jobs to hard-working North Carolina families. It is no surprise that since 2001, our state has successfully recruited 163,380 jobs and more than $26.2 billion in investment."
The report, "Women in Business: A Demographic Review of Women's Business Ownership," was issued in August by the U.S. Small Business Administration's Office of Advocacy. It ranked women-owned firms in the states by their rate of growth.
"Women business ownership has greatly influenced the economy in general and women's economic well-being in particular," the report says.
Women owned 6.5 million businesses nationally in 2002, according to the report, accounting for 28 percent of all non-farm firms in the nation. Women-owned businesses, from the period studied in the report for 1997 to 2002, grew at a faster rate than business overall in the United States.
In North Carolina, women own 173,847 firms, with total receipts of $26.7 million, and employ 225,440 workers with a payroll in excess of $4.9 billion, according to the 2002 statistics, the latest information available from the report.
"This shows good potential in North Carolina," said report author Ying Lowrey. "Fostering support for entrepreneurs will only help the state's economy."
The 10 states with the largest increases in women-owned firms are Nevada, Georgia, Florida, New York, North Carolina, California, Arizona, Louisiana, Mississippi and Texas.
Copies of the report are available on the Internet at: www.sba. gov/advo/research/rs280tot.pdf.
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