“The Center for Women’s Business
Research launched the ’fact card’ 14 years ago,” said Margaret M. Smith, chair,
Center for Women’s Business Research.“Since then it has expanded from four panels to 10 panels of the most
up-to-date knowledge about women-owned businesses.Today, it is one of our signature products
and is always in high demand.Everyone
from researchers, government officials, business representatives and reporters
know that if they have this card, they have a good overview of the status and
significance of this nation’s 10.4 million women-owned businesses at their
finger tips.”
In addition to the number of women-owned firms, the fact card contains the
following facts, among others:
- Women-owned firms employ nearly 13 million people and generate $1.9 trillion in sales.
- Between 1997 and 2006, majority women-owned firms (51 percent or more women-owned) grew at twice the rate of all firms (42 percent vs. 24 percent).
- The vast majority (83 percent) of women business owners are personally involved in selecting and purchasing technology for their businesses.
- Women owners of firms with revenues of $1 million or higher embrace financial measurements as management tools and produce more financial reports more often than smaller firms.
- There are 2.4 million firms owned 50 percent or more by women of color in the U.S., employing 1.6 million people and generating nearly $230 billion in sales.
- More than two-thirds (67 percent) of women business owners choose financial products and services based on their relationship and experience with a lender.
“The fact card speaks to the increasingly important and influential roles that women play as business owners, employers, and consumers,” said Susan W. Sweetser, Vice President, Focus Markets, MassMutual. “We’re committed to their continued success, which is why MassMutual has assumed a leadership role in serving women business owners for both their business and personal financial needs.”
“MassMutual has been a long-time partner with the work of the Center for Women’s Business Research,” said Sharon Hadary, executive director.“In fact it sponsored the first fact card, and has continued support for creating more opportunity for women-owned firms through underwriting research.We are pleased to have MassMutual sponsoring the fact card again this year.
About the Center for Women’s Business Research
The Center for Women’s Business Research provides data-driven knowledge that advances the economic, social, and political impact of women business owners. We do this by setting the national agenda; creating insight on the status and achievements of women business owners; altering perceptions about the economic viability and progress of women-owned enterprises, and driving awareness of the economic and social impact of this vital business sector.For more information, visit www.womensbusinessresearch.org.
About MassMutualMassMutual Financial Group is the fleet name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliates, with more than $450 billion in assets under management at year-end 2006. Assets under management include assets and certain external investment funds managed by MassMutual's subsidiaries.
Founded in 1851, MassMutual is a mutually owned financial protection, accumulation and income management company headquartered in Springfield, Mass. MassMutual's major affiliates include: OppenheimerFunds, Inc.; Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; MML Investors Services, Inc., MassMutual International LLC and The MassMutual Trust Company, FSB. MassMutual is on the Internet at www.massmutual.com.
