Posted at 1:27 p.m., Thursday, December 7, 2006
Study shows Hawai'i a hot spot for women-owned firms
Advertiser Staff
Hawai'i ranks as a hot spot for women-owned businesses, with the number of companies growing at a faster rate here than in most of the United States, a new study shows.The state had the third-fastest growth rate of any state when it comes to firms where the majority ownership is held by women, the Center for Women's Business Research said. Only Florida and Arizona had faster growth.
The study also found that firms where women hold at least 51 percent of ownership are growing at nearly twice the U.S. average, rising 42 percent between 1997 and 2006. That compared with growth of 23 percent for all firms.
"Over the past ten years, the number of majority women-owned firms just within the top ten states grew by 64 percent, and the number of these companies with employees increased 17 percent," said Susan Sobbott, president, OPEN, an American Express unit that targets small business owners and their companies. "The current and potential impact of women entrepreneurs on their local economies across geographies is profound.
