A new study on businesses owned by women shows major growth in Tennessee since the late 1990s.
The number of Tennessee’s women-owned firms grew by 65% between 1997 and 2013, but employment at the state’s women-owned businesses declined by more than 17% during that time.
Still, the report ranked Tennessee 14th in the US for the growth of women-owned firms and 25th for revenue, with revenues of more than 71%. The state ranked 31st for the combined economic clout of women-owned businesses.
Currently, there are more than 8.6 million women-owned businesses in the US, generating more than $1.3 trillion in revenue and employing nearly 7.8 million people.