Women business ownership is rapidly growing in the United States of America and in the last two decades the women owned businesses have increased by nearly 30%. These businesses are creating a huge number of employment opportunities for other people also.
The growing numbers of women business ownership in the United States of America is an encouraging factor for the whole business sector of the country. On the other hand, the employment opportunities provided by these women owned businesses are also adding to the economic growth of the community as well as of the country.
At the same time this rapid growth of these businesses have attracted a number of government as well as private organizations that are providing the necessary financial and technical support for establishing and developing these type of businesses.
Trends of Women Business Ownership in the US
In the period between 1982 and 1987, increase in the women business ownership was phenomenal. In this period these businesses increased by nearly 58%. In 1987, the women owned business held a significant position in the business sector of the country as it accounted for around one-third of the total business establishments in the US. This development trend in the women business ownerships has been maintained by the sector and in the following two decades.
There are a number of reasons for all these developments and the prime one is the availability of easy finance from both the traditional and non-traditional sources. At the same time, the Department of Labor along with the Small Business Administration and a number of other organizations has provided assistance to the women to become a driving force in the American economy.
Another important factor for the phenomenal increase in the women business ownership is the technological advancement. The developed technology has allowed these business ventures to compete with other men-owned businesses of several types. This technological advancement is also helpful in getting access to a number of other resources that are necessary for the purpose.