Current estimates place the total number of women-owned and women-led businesses at 7.5 million, contributing about 12 percent of the gross domestic product. These results were released as part of a ground-breaking study commissioned by the National Women’s Business Council, a federal advisory organization that offers policy recommendations to Congress.

The survey includes more detailed information about the prominence of females throughout the business landscape. Previous studies incorporated data regarding companies that were at least 51 percent women-owned. At this time, data regarding the number of businesses in which a woman owns a percentage of the business at least equal to any other owner and where a woman or women managed day-to-day operations is also available. The latter firms are referred to as “women-led.”

Significant findings about these businesses include the following:

• A greater proportion of Women-Led firms (29%) had paid employees than Women-Owned firms (14%).

• Although 84% of all Women-Owned and Women-Led firms (WOWL) had no employees, 86% of all WOWL firm revenues were generated by the 16% of firms with employees.

• There was no dominant level of education among WOWL businesses. Business owners with bachelor’s degrees had the highest rate (22%), while those without a high school degree had the lowest participation rate (5%).

• Women-Led businesses were more concentrated in low revenue industries with retail trade having the highest number of Women-Led firms among all races/ethnicities.

• Wholesale and manufacturing had small percentages of Women-Led firms (3% and 3%), yet generated high levels of total receipts (16% and 10%).

• While Women-Led firms had higher receipts per firm than Women-Owned firms, they paid their employees less, on average, than Women-Owned firms on a national basis.