Number of women-owned businesses booms in Georgia

ATLANTA, January 26, 2006 – Women in Georgia are starting businesses at a record rate, according to a U.S. Census Bureau report released today. The number of businesses owned by women in Georgia grew 35 percent between 1997 and 2002—more than any other state in the nation except Nevada.
'We're very pleased that Georgia is on the leading edge of this national trend,' said Craig Lesser, commissioner of the Georgia Department of Economic Development. 'Georgia's pro-business climate, which was recently ranked third in the nation, provides the right resources and strong dynamics that encourage women to start and grow their own companies.'

The Census Bureau's 2002 national survey of 1.9 million business owners defines women-owned businesses as firms in which women own 51 percent or more interest or stock.

The bureau's report aligns closely with a 2004 report by the Center for Women's Business Research that projected a seventh-place ranking for Georgia in the growth of its number of privately-held, majority women-owned firms between 1997 and 2004. The center also estimated that the number of women-owned employer firms (with at least one employee other than the owner) grew by 61.7 percent in Georgia from 1997 to 2004.

'The growth trend for women's businesses started in 1987, and these census figures show that however you look at it, women-owned businesses are growing at twice the rate of all businesses,' said Sharon Hadary, executive director of the Center for Women's Business Research.

Hadary added that her group found that solo entrepreneurs are the fastest growth segment nationwide, comprising 75 percent of all businesses and 81 percent of all women-owned businesses.

'Georgia's Entrepreneur and Small Business Office (ESBO) works with many women who own their own businesses,' said Gilda Watters, director of GDEcD division of Small Business and Innovation, which administrates the office. 'We connect them with training and development resources all over the state, and have instituted a number of initiatives such as the Governor's Mentor Protégé Program, our 'Entrepreneur Friendly' designation for communities, and opportunities to market their businesses internationally.'

ESBO will partner with the Georgia Women's Entrepreneur Network, an initiative of UGA's Small Business Resource Center, for the network's annual conference May 16 & 17 at the Cobb Galleria in Atlanta.

The Georgia Department of Economic Development (GDEcD) is the state's sales and marketing arm, the lead agency for attracting new business investment, encouraging the expansion of existing industry and small businesses, locating new markets for Georgia products, attracting tourists to Georgia, and promoting the state as a location for film, video and music projects, as well as planning and mobilizing state resources for economic development. For more information, visit www.georgia.org.