Women-owned businesses account for nearly half of all privately-held companies in the United States.
As of 2004, there are an estimated 10.6 million privately-held women-owned businesses in the United States, accounting for nearly 47.7% of all privately-held firms in the country. These businesses generate $2.46 trillion in sales, employ 19.1 million people nationwide, and spend an estimated $546 billion on salaries and benefits for employees. The number of women-owned businesses grew by 28.1% from 1997 to 2004—three times the growth rate of all US privately-held employer firms.
In Virginia, the Center for Women's Business Research found that as of 2004, there are an estimated 233,085 privately-held women-owned businesses in Virginia, accounting for 45.7% of all privately-held firms in the state. These businesses generate $46 billion in sales and employ 422,243 people. Between 1997 and 2004, the number of privately-held women-owned businesses in Virginia increased by 16.4%, employment grew by 29.1%, and sales increased by 43.8%. As of 2004, among the 50 states and Washington DC, Virginia ranks 15th in the number of women-owned businesses, 15th in employment, and 19th in sales.