Jansing and Co | February 01, 2013
>>> you gotta taste this soup.
>>> new figures show a sharp rise in the number of women -owned firms that have revenues of more than $ 1 million . over the past ten years, the number of women -owned firms has grown by 29% and those that take in $ 1 million or more have grown by 31%. but the biggest jump is among women -owned firms with among $ 10 million plus in revenues, surging 57%. joining me is president and ceo of women able, julie weeks, also american express open research adviser. good to see you. good morning.
>> great, good morning, chris.
>> what's driving this explosion of women -owned businesses, especially these that are making more than 1 million bucks a year?
>> well, i think it's a natural progression in the growth of women in business in the first place. but i think in terms of looking at the growth of the very highest levels, 1 million plus, 10 million plus, that has to do with a growth in peer networks, a growth in role models and mentors. i think there's just more for a woman who wants to grow to that level to find in the way of support these days.
>> you point out the share of firms reaching this rarified atmosphere of $ 10 million plus in revenues does remain small. but are some of these million-dollar businesses heading in that direction?
>> absolutely, they are. and i should say that the reason why we know this now -- this is unpublished until now information. so it's -- these -- this has been happening, i think, for a lot longer than we realize. it's just that now we are finding out this data, you know, and this trend. so, yes, the firms that are now at 1 million , 4 million, they're certainly on a trajectory to grow even bigger.
>> what do we think in terms of industries or sectors that is having a lot of growth?
>> in terms of what kind of industries have the largest share of very big firms if you're a woman-owned firm, that's in --
>> wholesale, huh?
>> educational -- wholesale, trade, transportation, finance and insurance. but also, if you're looking at where the growth is occurring in the larger firms, that's happening in educational services and health and social assistance . those are the firms -- even though there are fewer of them, you know, below average right now in the 10 million plus category, they're really going to be set up for very high growth.
>> when you look at these numbers, what's the biggest take-away for you and what does it tell us about the future of women -owned businesses?
>> i think the biggest take-away is that this has been happening under our very noses for one thing. growing under the radar, as the report suggests. i think it shows that more and more women are getting into business and are looking around for mentors and role models and seeing more women at the high levels. that is going to help propel this growth forward, for sure.
>> julie weeks, good to have you on the program. thank you.
>> great to be with you.
>>> and speaking of successful women , today's tweet of the day is a reminder from star jones . remember to wear something red today. it's american heart association 's national go red day for heart health. heart disease is number one killer of women . for life. if you