The role of women business ownership in the u s economy
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The Role of Women Business Ownership in the U.S. Economy. A Presentation to OWBO Conference Ying Lowrey, Ph.D. [email protected] September 19, 2011 at the Washington Plaza Hotel. Outline. Supporting small business including women-owned business was mandated by Congress

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The Role of Women Business Ownership in the U.S. Economy

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The role of women business ownership in the u s economy

The Role of Women Business Ownership in the U.S. Economy

A Presentation to OWBO Conference

Ying Lowrey, Ph.D.

[email protected]

September 19, 2011 at the Washington Plaza Hotel


Outline

Outline

  • Supporting small business including women-owned business was mandated by Congress

  • Pervasiveness of business ownership is the key to improving people’s economic wellbeing

  • Business creation is job creation

  • Economic growth did not increase the median household income

  • Income disparity between large vs. small businesses is the reason for the erosion of business ownership


Small business act

Small Business Act

  • Promulgated in July 1953

  • “The essence of the American economic system of private enterprise is free competition.”

  • “The preservation and expansion of such competition is basic not only to the economic well-being but to the security of this Nation.”

  • “Such security and well-being cannot be realized unless the actual and potential capacity of small business is encouraged and developed.”


Women s business ownership act

Women's Business Ownership Act

  • Established in 1988

  • “Women owned business has become a major contributor to the American economy by providing goods and services, revenues, and jobs.”

  • “Over the past two decades there have been substantial gains in the social and economic status of women as they have sought economic equality and independence.”

  • “Despite such progress, women, as a group, are subjected to discrimination in entrepreneurial endeavors due to their gender.”

  • “It is in the national interest to expeditiously remove discriminatory barriers to the creation and development of small business concerns owned and controlled by women.”


The role of women business ownership in the u s economy

Owning a Business Doubles (or 8 Times) the Probability of Being High Income (or High Net Wealth) Household


Business density business number per 1 000 people and median household income by race ethnicity

Business Density (Business Number per 1,000 People) and Median Household Income, by Race/Ethnicity


Wbd has stronger explanatory power for median household income 1997 2002 and 2007

WBD has stronger explanatory power for median household income, 1997, 2002, and 2007


The role of women business ownership in the u s economy

Business Creation is Job CreationNearly 6 million jobs created by new startups in 2007; over 34% created by women-owned firms; 10% were employment jobs and 90% were entrepreneurial jobs.


The role of women business ownership in the u s economy

Business Density Has Expanded Since 1997 for All Businesses and Women-Owned BusinessesYear BD WBD1997 76 202002 80 232007 90 26


The role of women business ownership in the u s economy

Ten States had Negative Growth Rate of Real Median Household Income for 1997-2007 Despite High GSP Growth


The role of women business ownership in the u s economy

Both number and receipts of publicly-held firms consistently increased since 1997; the receipt of privately-owned firms consistently decreased


The role of women business ownership in the u s economy

Number of U.S. firms and business receipts, 2007: 3% of total firms were publicly-held but had 64% of total U.S. business receipts


Some of my reports on gender

Some of My Reports on Gender

  • September 2011 – Gender Issues: Privately Owned and Publicly Held U.S. Firms

  • August 2010 – Gender and Establishment Dynamics, 2002-2006

  • August 2006 – Women in Business: A Demographic Review of Women’s Business Ownership

  • September 2005 – U.S. Sole Proprietorships: A Gender Comparison, 1985-2000


Conclusions

Conclusions

  • Owning a business doubles the probability of being high income household (or 8 times high net wealth household)

  • States with high business density tend to have higher household income and lower poverty rate

  • Women Business Density has stronger explanatory power than total BD for medium household income

  • In 2007, women-owned startups created 34% of total 6 million new jobs, of which, 10% were employment jobs and 90% were entrepreneurial jobs

  • Ten states had negative growth rate of real median household income for 1997-2007 despite high GSP growth


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