Number of Women-Owned Businesses Soars

By Gregory Potts Journal Record Reporter | THE JOURNAL RECORD, June 29, 1999 | Go to article overview
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Number of Women-Owned Businesses Soars


Gregory Potts Journal Record Reporter, THE JOURNAL RECORD


The number of women-owned businesses in the Oklahoma City area has increased by 33 percent in the last seven years, according to a study just released by the National Foundation for Women Business Owners.

The study, entitled "1999 Facts on Women-Owned Businesses: Trends in the Top 50 Metropolitan Areas," also revealed that employment in women-owned businesses in the metro has doubled to 92,100 and revenues have more than doubled to $11.2 billion in the same time period.

The information in the study was taken from U.S. Census Bureau data. Nationally, there are 9.1 million women-owned businesses in the United States, according to the study. "In Oklahoma City, women-owned businesses are increasingly substantial, making significant contributions to the area's economic health and vitality through employment and sales," said Lois E. Habler, NFWBO chair, and president and CEO of Delaware Valley Financial Services in Berwyn, Pa. "We believe our Women's Loan Program is contributing to this phenomenal growth of women-owned businesses and we're committed to continue to help them grow and prosper," said Colleen Anderson, executive vice president at Wells Fargo. "We're lending at an average of close to $1.5 billion a year to women business owners and I'm proud to announce that only three-and-a-half years into our 10-year program, we've already lent $5.2 billion." Here are the facts on women-owned businesses in Oklahoma City: * As of 1999, there are 40,200 women-owned firms in the Oklahoma City area, representing 39 percent of all the firms in the area. * Between 1992 and 1999, the number of women-owned firms in Oklahoma City has increased by 33 percent, employment has grown by 101 percent and sales have risen by 130 percent.

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