I am very pleased to announce that I have received the support of the Federation of Women Contractors . This support is especially significant to me because I have spent so many years fighting for Women and Minority owned businesses. Giving workers and business owners a fair shot at success is a vital component to what makes this country great. However, as you probably know, we still have a lot of work to do. Here are some basic statistics to underline that point (borrowed from National Association of Women Business owners, http://nawbo.org):
Women Owned Business in the United States
- More than 9.1 million firms are owned by women, employing nearly 7.9 million people, and generating $1.4 trillion in sales as of 2014.
- Women-owned firms (50% or more) account for 30% of all privately held firms and contribute 14% of employment and 11% of
- Over the past seven years, the overall increase of 8.3 million (net) new jobs is comprised of a 9.2 million increase in employment in large, publicly traded corporations, combined with a 893,000 decline in employment among smaller, privately held companies.
Businesses Owned by Minority Women
- 2.9 million firms are majority-owned by women of color in the U.S.
- These firms employ 1.4 million people and generate $226 billion in revenues annually.
Million Dollar Businesses
- One in five firms with revenue of $1 million or more is woman-owned.
- 4.2% of all women-owned firms have revenues of 1 million or more.
These statistics show how much progress has been made. More importantly, they demonstrate how much work we have left to do. I go out of my way to support the Women and Minority owned businesses in the 36th Ward and across the City. I highly recommend you do the same!