California is home to the greatest number of women-owned businesses in the nation with about 1.55 million, according to estimates in a seventh annual American Express analysis of U.S. Census Bureau data.
The 2017 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 million people and generate combined annual revenue of nearly $225.5 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.
Since 1997, the number of women-owned firms in California has increased about 121 percent, according to Wednesday’s report.
Florida ranked second nationally, with slightly more than 1 million women-owned companies; Texas was third with almost 940,000.
Nationally, there are an estimated 11.61 million firms owned and operated by women, up 114 percent from 1997.
American Express said Sacramento has an estimated 67,400 women-owned firms, employing 50,600 and producing combined annual revenue of $9.6 billion. The report said the current number of women-owned firms in the area is up about 45 percent from 2002.