A report ranked North Carolina among the top-10 best states for its number of women-owned businesses, in part due to the state’s pro-business policies and economic development.
The Tar Heel State ranked among the best in a report detailing the state of women-owned businesses throughout the country. The study, by Womenable and American Express OPEN, found that North Carolina was the 10th best state for its number of women-owned firms. In 2012, the state ranked 8th.
The report showed there were 276,300 women-owned firms in North Carolina in 2015. The number of women-owned businesses increased 97.5 percent between 1997 and 2015, the third-highest growth rate nationwide, behind Georgia and Texas.
The growth rate of women-owned businesses in North Carolina was helped by its rapid economic growth, which outpaced the national average. In 2014, North Carolina’s gross domestic product rose 2.3 percent, compared to the overall 2.2 percent average in the U.S., according to the Small Business Administration.
Compared to all businesses, women-owned firms have experienced more rapid growth, revenue and employment. Nationwide, the number of businesses has increased 51 percent from 1997 to 2015, while women-owned businesses has risen 74 percent during the same time. In 2015, there were 9.4 million women-owned businesses in the U.S., according to the report. North Carolina is among the states with the fastest growth for these firms.
