Report: Alabama Women-Owned Businesses Grew in 2015

Date: June 16, 2015

A report found that the number of women-owned businesses in Alabama grew at one of the quickest rates in the nation.

Alabama falls in the middle nationwide for states with female entrepreneurs, though the number of businesses rose at one of the fastest paces in the nation.

A report revealed that the number of firms owned by women in Alabama climbed 86.4 percent between 1997 and 2015. Compared with other states, Alabama had the ninth-highest growth rate in women-owned firms, according to “The 2015 State of Women-Owned Businesses” report.

Revenue at these businesses also grew, jumping 72.8 percent over the same time period. However, most other states fared better in this category, placing Alabama No. 31 nationally for this measurement. Compared to the rest of the country, Alabama’s economy has grown at a slower pace over the past few years. Its gross domestic product inched up 0.8 percent in 2013, according to the Small Business Administration.

The employment rate for women-owned firms only increased 4.4 percent, placing Alabama near the bottom, ranking No. 39 for this category. The overall rate of employment growth in the private sector rose just 2.3 percent in a 12-month time period ending October 2014, the SBA found.

The growth in the number of women-owned businesses is good news for the small business community, and these firms have reached 30 percent of all businesses nationwide, according to Womenable, the group that published the report. The SBA reported that Alabama’s small businesses employ about half of all employees in the state, and 96.4 percent of all firms are considered a small business.

The number of businesses owned by women is increasing at a rate nearly 1.5 times the the national average, according to Womenable, a group that aims to enable women entrepreneurs worldwide.


Related Content: Small Business News | Alabama

Subscribe For Free News And Tips

Enter your email to get FREE small business insights. Learn more

Get to know NFIB

NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.

Learn More

Or call us today
1-800-634-2669

© 2001 - 2024 National Federation of Independent Business. All Rights Reserved. Terms and Conditions | Privacy