October 15-19 is National Business Women’s Week® (NBWW), an annual event celebrated during the third full week in October that honors the contributions of working women and employers who support working women and their families.
NBWW was conceived back in the mid-1920s by Emma Dot Partridge when she was Executive Secretary of the National Federation of Business and Professional Women’s Clubs. The first observance was held in 1928, with a proclamation “to focus public attention upon a better business woman for a better business world.”
From this early effort, NBWW has grown into a nationwide salute to all working women that not only calls attention to women entrepreneurs, but also promotes discussions about the needs of working women, facilitates the awareness and sharing of information for working women in their communities, helps promote leadership roles for women, and increases opportunities for their advancement, both professionally and personally.
“Women-owned businesses not only contribute significantly to the prosperity and competitiveness of the local economy here in Dallas,” commented Dallas Capital Bank Chairman & CEO Doug Hutt, “they also play a huge role in advancing gender diversity in boardrooms and in corporate America nationally.”
Since 1968, the number and scope of women-owned businesses has risen at a virtually unprecedented rate. Today women own an estimated 11.6 million businesses nationwide, employ nearly 9 million people and generate more than $1.7 trillion in annual revenues. Over the past 20 years (1997–2017), the number of women-owned businesses has grown 114% compared to the overall national growth rate of 44% for all businesses. Here in the DFW area, the momentum is even stronger. During the past five years, women-owned businesses in Dallas grew by 58% -- more than twice the national average, and DFW ranks first in revenues per women-owned businesses among the 25 largest U.S. cities.*
What may be surprising is the wide variety of industries in which women business owners are making their mark. In 2017, the top five industries for women-owned businesses were Health Care/Social Assistance, Professional/Scientific/Technology Services (including legal, accounting, architecture, public relations and consulting firms), Administration/Support/Waste Management Services, Retail Trade, and “Other Services” (e.g., hair and nail salons, pet-care businesses, etc.). However, the five industries that experienced the greatest growth of women-owned businesses between 2016 and 2017 were Construction, Arts/Entertainment/Recreation, Hospitality/Food Service, Utilities, and Other Services.**
Source: American Express. “The 2017 State of Women-Owned Businesses Report.”
Dallas Capital Bank Chairman & CEO Doug Hutt said, “Here at Dallas Capital Bank, we’re proud to serve numerous organizations that are owned or managed by women; or that actively support and empower female members of their workforce. The collective skills and success of women in leadership positions continue to make our local business community the vibrant hub that it is.”
Sources:
* Owens, Robbie. “Growth of Women-Owned Businesses in Dallas Outpacing Nation.” CBS 11 News, 2016. https://dfw.cbslocal.com/2016/03/31/growth-of-women-owned-businesses-in…
* Bowles, Jonathan. “Women-Owned Businesses in the Nation’s 25 Largest Cities.” Center for An Urban Future, 2016. https://nycfuture.org/data/breaking-through-women-owned-businesses-in-t…
** American Express. “The 2017 State of Women-Owned Businesses Report.”