North Dakota ranked 51st in the growth of the number of women-owned firms since 2014 among all 50 states and the District of Columbia.
The state also ranked 51st in the growth of jobs created, with a 2.5% decrease, and 51st in the growth of firm revenues, with a 3.5% decrease.
North Dakota has almost 21,000 women-owned businesses, employing over 25,000 and attributing to roughly $4.4 billion, according to the ninth annual State of Women-Owned Businesses Report, commissioned by American Express.
This comprehensive report was released on Sept. 23, analyzing data from the U.S. Census Bureau’s Survey of Business Owners and factoring in relative changes in Gross Domestic Product (GDP).
The annual report analyzes industry, revenue and employment size at the national, state and metropolitan levels to illustrate the impact women-owned businesses have on the U.S. economy.
This year’s report shows that between 2014 and 2019, the number of women-owned businesses climbed 21% to nearly 13 million, employment grew by 8% to 9.4 million and revenue rose 21% to $1.9 trillion.