Happy 10th Birthday!
It occurred to us that we just hit a huge milestone this week and even better we celebrate it during Women’s History Month. As we looked back since we started Mo’mix Solutions 10 years ago this week, it gave us great pride to be a part of the Woman Owned Business community in Technology. As we reflect back with gratitude on each employee, partner, client and person that has helped us along the way we wanted to share some interesting facts.
Every Single Day more than 1000 Women start a business.
How many survive?
- 80% Survive the 1st Year
- 50% Survive to Year 5
- 30% Survive to Year 10
Last year, venture capitalists invested just $1.46 billion in women-led companies.
While male-led companies earned $58.2 billion in investments.
That’s a whopping difference.
Between 2007 and 2016 Women Owned Business grew 5X faster than the national average.
As of end of 2016 there were over 11.3 million women-owned firms in the US that employ almost $8 million people and generated over $1.4 TRILLION in revenue.
Women appear to be growing revenues more quickly, too. According to a study commissioned by American Express OPEN, “Business revenues among women-owned firms have increased by 35% since 2007, compared to 27% among all U.S. firms — thus at a rate that is 30% higher than the national average.”
How does this all translate? If Women Business Owners in the US formed a Country its GDP Would Rank 5th Globally.
Let’s all continue to support small, woman owned business and increase their ability to survive, thrive and in doing so change the statistics of success!