News Release

U.S. Department of Labor
Office of Public Affairs
200 Constitution Avenue
Washington, D.C. 20210
USDL 02-683

For Immediate Release
Date: December 9, 2002
Contact: Elissa Pruett
Phone: (202) 693-4676

Women's Bureau Publication Offers Statistics On Women-Owned Businesses

Washington -- Secretary of Labor Elaine L. Chao announced that the Women's Bureau released a fact sheet on women business owners today, providing current details and data on the composition and definition of privately held firms represented by at least 51 percent female ownership.

According to the Census Bureau's latest Survey of Minority-Owned Business Enterprises, women owned 26 percent of the nation's 20.8 million non-farm businesses - which translates into 5,417,034 firms. Those businesses also employed 7.1 million paid workers, and generated $818.7 billion in sales and receipts. Firms owned by minority women recorded sales and receipts totaling $84.7 billion in 1997. The report also identifies California, New York, Texas, Florida, and Illinois as the states with the largest number of women-owned businesses.

Chao believes that women looking for new or different careers can consider starting their own business. "There are many benefits to owning your own business," said Chao. "These include workplace flexibility and financial security -- and although the process may seem challenging, today's women-owned businesses are major contributors to jobs and the economic security of our nation."

The fact sheet, which also provides information on women-owned businesses by industry and minority classification, is available on the Women's Bureau website at www.dol.gov/wb/welcome.html

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