Surge of success for women-owned businesses

Updated

New figures show a sharp rise in the number of women-owned firms that have revenues of more than a million dollars.

“I think the biggest takeaway is that this has been happening under our very noses, for one thing, growing under the radar as the report title suggests,” said Julie Weeks, CEO of Womenable and research adviser for American Express Open, on Jansing & Co Friday.

For the past 10 years, the number of women-owned firms has grown by 29%. And those that take in $1 million or more have grown by 31%. But the biggest jump is among women-owned firms with $10 million or more in revenues. They have surged nearly 57%. So what’s behind this increase?

“I think it’s a natural progression in the growth of women in business in the first place,” Weeks told msnbc’s Chris Jansing. “In terms of looking at the growth of the very highest levels…that has to do with a growth in peer netorks, a growth in role models and mentors. I think there’s more for a woman who wants to grow to that level to find in the way of support these days.”

Surge of success for women-owned businesses

Updated