Orlando Weekly

Florida ranks highest in nation for rate of new women-owned businesses, says study

Lora Korpar Sep 6, 2018 13:08 PM
Photo by Rob Bartlett
Emily Rankin of Florida & Co. Market & Eatery
Florida was ranked No. 1 in the country in terms of fastest growth rate of women-owned businesses, according to a new report.

The 2018 American Express State of Women-Owned Businesses Report measured the growth rates of women-owned firms since 2007, finding a 58 percent increase in the past 11 years.

This is a dramatic increase when compared to the fact that businesses nationwide have increased by only 12 percent since 2007.

The amount of black-women-owned businesses showed the highest growth rate in the past year, with 20 percent of all women-owned businesses being owned by black women.

They are closely followed by Latina women, who own 17 percent of all women-owned businesses.

The majority of women business owners are between the ages of 55-64, with only 15.5 percent of women business owners being under the age of 35.

Miami was also ranked as the fifth top metropolitan area in the country where women-owned businesses increased their economic influence  — the only Florida city in the top five. Charlotte, NC holds first place on that list.

Here in Orlando, we have our fair share of women-owned businesses. In fact, there are over 20 women-owned restaurants in the area.

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