The number of women-owned businesses in New Jersey has grown steadily over the past 17 years, and is expected to reach 230,800 this year — up 48.6 percent since 1997 — according to the fourth annual American Express OPEN State of Women-Owned Businesses Report.
If the numbers stay on track, those businesses should do some $44,541,600 in sales in 2014, a 48.5 percent increase over 1997 ($30,000,725). And woman-owned companies are expected to employ 252,900 New Jerseyans this year.
How does the Garden State stack up nationally? There are 9.1 million women-owned enterprises in the United States, which represents a healthy increase of 68 percent over the past 17 years. New Jersey is ranked 26th in terms of growth of women-owned firms since 1997, and 42nd in increased revenue over the same period.
The OPEN State of Women-Owned Businesses Report is based on the U.S. Census Bureau’s Survey of Business Owners, which is done every five years.