Women Business Owners 5th Largest GDP
Tuesday, October 6, 2009
WOMEN BUSINESS OWNERS 5TH LARGEST GDP
For Immediate Release
Contact: Jason Lalak
415 434 4314
WIPP, The Center for Women's Business Research, The National Women's Business Council and Walmart announced exciting new data at the Economic Summit on Friday, October 2nd.
· If women-owned businesses were their own country, they would have the 5th largest GDP in the world, ahead of countries, including France, the United Kingdom and Italy.
· If women-owned businesses were their own country, they would have a greater GDP than Canada, India and Vietnam COMBINED.
· Women-owned firms have a total economic impact of $3 trillion, including creating and/or maintaining 23 million jobs, 16% of the total workforce.
The economic impact analysis explains the direct, indirect, and induced economic impact of women-owned businesses nationwide. Moving well beyond the traditional number of women-owned firms, industries, and revenue levels, this research takes things to the next level by analyzing the economic ripple effect of the women-owned business community, i.e. what their direct spending is in addition to subsequent spending by their suppliers and employees.
The survey data provides:
· industry specific data that can be used for programming and public policy;
· data that can drive private and public investments; and
· data that can illuminate the true production capacity of women-owned firms.
The objective of this important research was to broadly quantify the economic contributions of women-owned firms and is unprecedented. This is the first time that this type of analysis has been undertaken for women-owned firms in the nation and the results will have significant and wide-ranging impact for policymaking, economic development, and private investment focused on women business owners and their communities. Please go to www.cfwbr.org and www.wipp.org for further information and to SBTV.com to see a video of the announcement.