Small businesses, those with fewer than 50 employees, added 88,000 jobs to the economy in September, according to the latest ADP National Employment Report. That’s an increase from 82,000 in August, and 41 percent of all 213,000 jobs created for the month.
And even among this growth, the leaders were companies with fewer than 20 employees.
“These micro businesses added a total of 48,000 new employees in September, compared to 39,000 for businesses with between 20 and 49 employees.” says Fox Business.
Today, 30 percent of all American businesses have a woman at the helm. African American women in particular are a driving force, establishing their enterprises at six times the national average, according to a 2013 American Express OPEN report. Between 1997 and 2013, African American women-owned businesses grew by 258 percent and made $226.8 billion in revenue. They employ 1.4 million people, which is more than the combined population of Atlanta, St. Louis and Miami.
Women in general, and Black women specifically, have large barriers to overcome in terms of government contracts and funding, with only “only 17 percent of U.S. Small Business Administration loans went to women entrepreneurs,” according to that DallasWeekly article. But many women, seeing their fortunes turn sour during the recession took the circumstance as a reason to launch the business they’ve always considered.
The Small Business Association is trying to provide some of the education and resources that women need to get their businesses off the ground. The department outlines some of what they have to offer and how you can take part here. We’re going to be publishing an interview with the SBA for our Small Business Month/MN Bosses coverage this month, so stay tuned.