Women, eager to avoid wage discrimination, glass ceilings on promotion, and the lack of freedom they face in the modern-day workplace, continue to start their own businesses, adding to the almost 8 million woman-owned firms nationwide. These companies now employ 18.5 million people and produce $2.3 trillion in annual revenues.
“Women get discouraged by the wage differential, or no promotion, or ‘last hired, first fired,'” explained Sherrye Henry, assistant administrator in the Women’s Business Ownership office. In addition, many woman business owners who want to take time off to balance their work and family responsibilities enjoy the greater flexibility that comes along with self-employment.
While many woman-owned businesses are concentrated in services and retail, women are making advances in the traditionally “male” areas of construction, transportation, and communications.