Women-owned businesses flourishing in Alabama, but down in Birmingham
Alabama ranks near the bottom of the barrel in far too many lists. But when American Express released their 2018 State of Women-Owned Businesses Report that details trends and ranks the nation’s top metro areas on Friday the Yellowhammer State actually did really well. According to the report, Alabama has an estimated 152,800 women-owned businesses — defined as businesses that are at least 51% owned, operated, and controlled by one or more females — that employ 110,500 with revenues of roughly $18.7 billion. The report analyzed data from U.S. Census Bureau’s Survey of Business Owners and factoring in relative changes in Gross Domestic Product (GDP). It’s findings indicate more women started businesses in the U.S. between 2017 and 2018 than in any period over the past 15 years. In fact, women
Birmingham ranks among Top 3 U.S. cities for women to start a business
Across the Yellowhammer State, women are taking the lead in business ownership. At last count, women owned more than 153,000 businesses throughout Alabama. In fact, according to the sixth annual State of Women-Owned Businesses Report, those businesses employ over 111,000 Alabamians and generate nearly $19 billion into the state’s economy. The growing number of women-owned businesses in Alabama is part of a national trend. Recent data from SCORE shows women-owned businesses are growing 1.5 times faster than the national average, and the trend particularly benefits female business owners of color. A National Women’s Business Council study found Hispanic and black women are dramatically outpacing their Asian and white counterparts in business ownership. And according to a recent survey by Thumbtack, a local services marketplace that connects customers with skilled professionals, Birmingham is among the best cities in the nation for women to start a business. Ranked No. 3, Birmingham outshines it nearby neighbors Lakeland, Florida at No. 5, and Atlanta, Georgia, ranked No.8. Alabama came in as the No. 6 best state overall for women to start a business. To conduct the survey, Thumbtack analysts studied proprietary marketplace data to determine places where women are most optimistic about their prospects (i.e., where they’re happiest running a business) and surveyed over than 20,000 female professionals and business owners from across the country to determine the places where women are happiest running a business. The survey focused on sentiment, pay, and state/city friendliness toward female-owned businesses. Click here to view the full report.
