State of Women-Owned Businesses in Virginia

Virginia is the headquarters of Handshake Media, Incorporated, the parent company of Handshake 2.0, and is a woman-owned business.

I was fascinated to receive this data from Julie Weeks, American Express OPEN research advisor, on the state of women-owned businesses in Virginia.

Virginia has an estimated 218,400 women-owned firms, employing 211,100, according to The American Express OPEN State of Women-Owned Businesses Report, an analysis of data from the U.S. Census Bureau, released March 21, 2012.

Nationally, the number of women-owned businesses has increased 54% since 1997.  Virginia is ranked 11th (65.2%) in growth of number of firms over the past 15 years and 9th (22.6%) in growth of firm revenue between 1997 and 2012. 

Below is a table comparing Virginia’s women-owned firms data to the national numbers.

Women-owned businesses in Virginia

I'll follow-up with Julie for more information, perhaps on the state of women-owned firms in the hometown of Handshake Media, Blacksburg, Virginia, but, for now, I thank her for the information and share it with you.

Added 3/23/12:

Thanks to Julie Weeks for this follow-up:

To clarify the sales figure, it is $35.9 billion, since all sales figures are missing the last 3 zeros (hence the table label of "Sales ($000)"). 

What the trends show in Virginia is a tremendous boon for women-owned firms in the Commonwealth in terms of growth in economic clout, likely from being near the Nation's Capital. Virginia is ranked 6th in the nation in terms of the combined economic clout of its women-owned firms (based on growth in number, revenues and employment over the past 15 years), joining both Maryland (#7) and the District of Columbia (#1) in the top ten states. The economic stability in this region, plus the existence of federal procurement opportunities in greater measure than in other areas of the country, are likely key reasons for this positive finding.

First Bank & Trust CompayThis post is sponsored by First Bank & Trust Company, one of the top community banks in the United States, with office locations in southwest Virginia, northeast Tennessee, and the New River and Shenandoah Valleys of Virginia. You're invited to read more from First Bank & Trust Company on Handshake 2.0.

First Bank & Trust Company is a client of Handshake Media, Incorporated, the parent company of Handshake 2.0.

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