Key Facts about Women-Owned Businesses.

Key Facts about Women-Owned Businesses – 2007 Update, is underwritten by the MassMutual Financial Group.

“The Center for Women’s Business Research launched the ’fact card’ 14 years ago,” said Margaret M. Smith, chair, Center for Women’s Business Research. “Since then it has expanded from four panels to 10 panels of the most up-to-date knowledge about women-owned businesses. Today, it is one of our signature products and is always in high demand. Everyone from researchers, government officials, business representatives and reporters know that if they have this card, they have a good overview of the status and significance of this nation’s 10.4 million women-owned businesses at their finger tips.”

In addition to the number of women-owned firms, the fact card contains the following facts, among others:

– Women-owned firms employ nearly 13 million people and generate $1.9 trillion in sales.
– Between 1997 and 2006, majority women-owned firms (51 percent or more women-owned) grew at twice the rate of all firms (42 percent vs. 24 percent).
– The vast majority (83 percent) of women business owners are personally involved in selecting and purchasing technology for their businesses.
– Women owners of firms with revenues of $1 million or higher embrace financial measurements as management tools and produce more financial reports more often than smaller firms.
– There are 2.4 million firms owned 50 percent or more by women of color in the U.S., employing 1.6 million people and generating nearly $230 billion in sales.
– More than two-thirds (67 percent) of women business owners choose financial products and services based on their relationship and experience with a lender.

“The fact card speaks to the increasingly important and influential roles that women play as business owners, employers, and consumers,” said Susan W. Sweetser, Vice President, Focus Markets, MassMutual. “We’re committed to their continued success, which is why MassMutual has assumed a leadership role in serving women business owners for both their business and personal financial needs.”

“MassMutual has been a long-time partner with the work of the Center for Women’s Business Research,” said Sharon Hadary, executive director. “In fact it sponsored the first fact card, and has continued support for creating more opportunity for women-owned firms through underwriting research. We are pleased to have MassMutual sponsoring the fact card again this year.

For more information at http:// www.womensbusinessresearch.org>