Entrepreneur.com looks at the rise of female-led businesses and entrepreneurship in New York.
Women-owned businesses are on the rise. They make up 39 percent of the 28 million small businesses in the U.S., contribute $1.6 trillion in national revenue and employ nearly nine million people. From 2007 to 2016, the number of women-owned businesses increased by 45 percent, a rate five times faster than the national average. Women-owned enterprises strengthen the national economy, and their growing presence is an indication that we need more of them.
According to the Centre for Entrepreneurs, many women may also bring a distinct skill set that sets them apart in running a successful business. Women entrepreneurs are reportedly more likely to work towards sustainable business earnings and display greater ambitions to become serial entrepreneurs. But the success of women entrepreneurs should not be taken for granted. While some women may choose entrepreneurship because of opportunity and experience, others choose it because of need.
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