California is home to the greatest number of women-owned businesses with nearly 1.5 million, according to estimates in the latest American Express analysis of U.S. Census Bureau data.
The 2016 State of Women-Owned Businesses Report – commissioned by American Express OPEN, the small-business services division of American Express – estimates that the in-state, women-owned firms employ more than 1.07 million people and generate combined annual revenue of $222.2 billion.
The number of firms is larger than the number of employees because some businesses are one-woman ventures, and some women own multiple firms.
American Express said Sacramento has an estimated 66,200 women-owned firms – up nearly 12 percent from 59,200 estimated in last year’s report – employing 50,500 and producing combined annual revenue of about $9.4 billion.
Nationally, American Express estimated that there are 11.3 million women-owned businesses nationwide, up 45 percent from 2007. Currently, women-owned firms in the United States employ nearly 9 million and generate annual revenue of more than $1.6 trillion.