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Walmart, Partners Release Unprecedented Women Economic Impact Study

Friday, October 2, 2009  
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Contacts: Phillip Keene, Walmart: 1-800-331-0085
Brenda Jones, WIPP: 1-405-516-9686
 
Walmart, Partners Release Unprecedented Women Economic Impact Study
 
Women-owned firms have $3 trillion economic impact, employ 16 percent of all U.S. jobs
 
Washington, D.C., October 2, 2009 - Walmart, Women Impacting Public Policy (WIPP), the National Women's Business Council (NWBC) and the Center for Women's Business Research (CfWBR), have unveiled a first-of-a-kind economic impact study detailing the total impact of women-owned small businesses in the United States. THe study was released during today's Women's Economic Summit, convened by Walmart and WIPP, in Washington, DC.
 
Approximately 300 prominent women business owners, femail corporate executives, high-level government leaders, key members of minority organizations and other critical stakeholders attended the Walmart/WIPP Women's Economic Summit. In addition to the study results, participants discussed the condition, impact and direct of women-owned businesses with the aim of providing immediate tangible tools for growth and shared learning. A full agenda can be found at www.wipp.org
 
"Its no secret that the female business owner and customer are the center of Walmart's push to save people money so they can live better, " said Esther Silver-Parker, senior vice president of Corporate Affairs, Walmart. "This summit allows us to share some of what we have learned about this influential block of voters, shoppers, and entrepreneurs while gaining unprecedented insight into some of the ways Walmart and others can help serve this important group. Judging from today's data, women have been and will be, a key driver to economic recovery."
 
"The survey results demonstrate clearly that women business owners are playing leading role in the economic recovery of our nation," said Barbara Kasoff, president of Women Impacting Public Policy. "More importantly, it proves beyond a shadow of a doubt that if we continue to invest in their growth, they will change the economic landscape of our county."
 
In 2009, the National Women's Business Council, the Center for Women's Business Research and Walmart commissioned an extensive, groundbreaking study of U.S. women business owners to quantify their economic impact and identify the needs of women entrepreneurs. The study reveals that U.S. women-owned businesses represent a vital component of the economy, responsible for trillions in revenue and millions of employment opportunities nationwide. Key findings of the unprecedented study include:
- Women-owned firms have an economic impact of nearly $3 trillion.
- Women-owned businesses produce employment for 23 million people, 16 percent of all U.S. jobs (direct and indirect)
- If they were their own county, women-owned businesses would have the 5th largest world GDP. 
 
"Women-owned firms employ or generate a total of 16% of the jobs in our nation's economy," said Gwen Martin, executive director and director of research for the Center for Women's Business Research. "Job creation is desperately needed in our country today. A job not only supports a worker, it provides for a family, and creates purchasing power that supports local and national economies."
 
"The National Women's Business Council is proud to be a sponsor of this ground-breaking research," stated NWBC Executive Director Margaret Barton. "In our role as advisors to the President, Congress, and SBA, the Council depends on this type of current data to make immediate fact-based policy recommendations to support the women's business community."
 
A webcast archive of the summit will be available at www.sbtv.com starting the week of October 12th. Notable speakers include Mike Duke, CEO, Walmart; Barbara Kasof, President, Women Impacting Public Policy; Margaret Barton, Executive Director, National Women's Business Council and Gwen Martin, Director of Research, Center for Women's Business Research and others.
 
In an effort to continue the dialogue and action from the summit, Walmart will publish a summary white paper in Spring 2010. The document will be made available to all Sam's Club women business members, and members of Congress, as a resource for their constituents.

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