Forbes has published some interesting research about 10 million companies:
- Over the past decade, the growth in the number of women-owned firms with $10 million or more in revenues has increased by 56.6%, a rate 47% faster than the rate of growth of all $10M+ firms and nearly twice (+98%) the rate of growth of all women-owned firms.
- Between 2002 and 2012, the number of all women-owned firms has grown by 28.6%, slightly more than the 24.4% increase in all U.S. businesses. Similarly, the number of $1M+ women-owned firms has grown by 30.7%, just over the 28.9% increase in all million-dollar firms. But, at the highest end of sales achievement, the number of $10M+ women-owned firms has grown by 56.6% – fully 47% higher than the 38.4% increase among all $10M+ firms.
- The share of firms reaching this rarified atmosphere remains small. Within the population of million-dollar firms, 75% have $1-$4.9 million, 12% have $5-$9.9 million, and 13% have $10 million or more in revenues. Among million-dollar women-owned firms, 82% have $1-4.9M, 10% have $5-9.9M,and 8% have $10M+ in revenues.
- The industries home to the greatest share of million-dollar firms exceeding the $10M threshold include: wholesale trade (20% of women-owned million-dollar firms), finance/insurance (12% of women-owned million-dollar firms), transportation/ warehousing (11% of women-owned million-dollar firms), and arts/entertainment/recreation (10% of women-owned million-dollar firms).
With every positive news story or stats on women in business, a less positive one follows! Here is an opinion piece in the same Forbes magazine about how organisations can change to encourage more females to aim for senior positions.
Men and women aspiring to executive positions are generally motivated by the same factors, such as opportunities to lead and influence others, and more entrepreneurial ways of working. But when surveyed, only 1 in 5 women wanted to advance to a C-suite position.