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BusinessWeek

Women Lead the Startup Stats

Female entrepreneurs may once have lagged behind their male counterparts, but now they're making up for lost time. Business ownership among women in general is growing at nearly twice the rate (17%) as all businesses (9%), according to a new report released this month by the Center for Women's Business Research. And the number of businesses owned by minority women, long the smallest segment of entrepreneurship in the U.S., is growing at six times the rate of all private companies, the study found.

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NATIONAL LIFT.  The study, a biennial assessment based on U.S. Census data, finds an estimated 1.4 million privately held businesses in which minority women hold the primary stake, generating $147 billion in annual sales. Since 1997, the number of businesses owned by minority women grew 54.6%. African-American women saw a 32.5% jump, while Hispanics, Asians, and Pacific Islanders, and Native Americans and Alaska Natives each posted increases of 60%. The greatest estimated growth for companies owned by minority women came in the service sector, at 55.8%.

"This is a positive sign for the entire country," Harvard Business School professor Myra Hart, the center's chairwoman, said in a statement. "At this crucial time for the economy, we're seeing that greater participation in entrepreneurship among women from a variety of backgrounds is playing an important role in facilitating economic growth."

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INCUBATORS HATCHING.  Mark Rice, dean of Babson College's business school and a CWBR board member, cites the increased awareness of societal support –- including institutions like the Small Business Administration's Small Business Development Centers, local and regional chambers of commerce, and entrepreneurship incubators -- as other factors driving the trend.

DATA DIVIDENDS.  Despite the encouraging signs, female entrepreneurs continue to struggle with access to capital, particularly credit. This is especially true for minority women. But Hadary says as more and more studies are released that point to the success of women entrepreneurs, the financial barriers -- driven largely by perception -- will begin to fall.

This is good news and, to many women, I would bet also not "surprising" news. In that vein--and hey, I'm a guy, so what do I know?--but do these article quotes from CWBR Director Sharon Hadary seem a tad, I dunno, shallow and almost apologetic?

Why the change? "First and foremost, women who want to start a business are seeing others who are doing it, and they think, 'Wow, I can do this too,'" says Sharon Hadary, the center's executive director..... Hadary says women-owned businesses are growing rapidly because entrepreneurship is a direct path toward economic independence. "You're not waiting for someone to bring you out of poverty, and you're not waiting for someone else to give you a living wage or benefits," Hadary says.

If you say so, Sharon. I get the independence part. And like I said, I'm hobbled by my XY disability, but still, surely these women wouldn't describe themselves or their drives in those simple, floppy "exterior" terms. Aren't there a lot more Lara Crofts and Sofias starting coffee shops or consulting firms or manufacturing companies than there are Debbies and Celies? Or, maybe the Laras and Sofias bring along the Debbies and the Celies? Or maybe the Celies and Debbies prop up the Laras and Sofias when their arc wanes? Or maybe it all balances out in the end?? Oww. Head. Hurts. Must - need - go - must - go - find - shout - something - office - anyone - please - must - bark - head - oww [/div class=Phil Donahue]