Woman-Owned Businesses in Denver
- employ more than 117,000 people
- account for 41.5 percent of all privately-held firms in the metro-area
- generate over $19 billion in sales
Woman-Owned Businesses in Colorado, 1997-2006
- increased by 32.9 percent
- sales increased by 15.1 percent
Among all 50 states and Washington, D.C., Colorado ranks:
- 15th in number of woman-owned firms
- 19th in employment
Women of Color. The number of minority woman-owned businesses grew 32 percent between 1997 and 2002, four times faster than all firms in the United States. Yet, despite their leadership, women of color hold just over 1 percent of corporate offices in 400 of the Fortune 500 firms.
Investing. Compared to less than 60 percent of working women, almost 75 percent of women business owners invest in stocks, bonds and mutual funds.
New Entrepreneurs. Women who have started their firms in the last decade are more focused on growth than women who have been in business longer. In addition, newer entrepreneurs have more education and management experience and, impressively, have revenues and employment profiles on par with women who have been in business twice as long.
Management Style. Businesswomen are less hierarchical than their male counterparts. They seek more information than men, may allow themselves more time to make decisions, and are more likely to gather input from peers, employees and subject-matter specialists.
Top Breadwinners. Studies in Maine and New York show that more than one-half of women business owners are the top wage earners in their households.
Women Hire a Balance of Men and Women. Women, on average, strive for gender balance in the companies they own, filling positions with 52 percent women and 48 percent men. Men employ 62 percent men and 38 percent women.
Philanthropy. Seventy percent of women business owners volunteer at least once a month. Each year 15 percent of these women contribute $10,000 or more to charity, and women are more likely than men to serve as leaders in their volunteer pursuits.
Technology. Sixty-one percent of women use the Internet for business, and 50 percent of woman-owned firms have websites.
Improvements for the Future
Corporate Officers, the Wage Gap and Enrollment in Business School.On a scale of 1 to 10, with 10 representing parity with men, women score a 2.78 when it comes to holding positions as corporate officers at Fortune 500 companies. Women score a relatively high 7.60 on the wage-gap scale, yet it is estimated the gap in earnings between men and women will not close until the year 2032. Women's enrollment in graduate business programs scores 6.60 on the parity scale.
Mentors. Working with a mentor is cited as a key component to a woman's success. Young women are urged to seek mentors early in their careers.
Non-traditional Careers. Women make up about 23 percent of architects,19 percent of forestry and conservation scientists, 20 percent of all dentists, 14 percent of police officers and detectives, less than 8 percent of physicists and astronomers, and less than 4 percent of airline pilots and navigators. Women make up less than 3 percent of firefighters nationwide.
Financial Strength & Access to Capital. Woman-owned businesses are as creditworthy and financially strong as the average U.S. firm; however, 52 percent of men who own fast-growth firms receive commercial bank loans while, by contrast, only 39 percent of women who own fast-growth firms receive loans. On a scale of 1 to 10, with 10 representing parity with men, women score a 1.10 when it comes to receiving venture-capital funding.
In this fact sheet, the word "firm" is a business, company or partnership of two or more persons, legally recognized as a unit of the members who form it.
Information compiled from the Women's Business Enterprise National Council, the National Organization for Women, the Center for Women's Business Research Women-Owned firms in Denver-Aurora, CO, Center for Women's Business Research Women-Owned Business in Colorado, and the U.S. Department of Labor, Women's Bureau.
