Wyoming has an estimated 19,100 women-owned businesses, employing 18,100 with revenues of roughly $2.9 billion according to the eighth annual State of Women-Owned Businesses Report, commissioned by American Express, a comprehensive report released today, analyzing data from the U.S. Census Bureau’s Survey of Business Owners and factoring in relative changes in Gross Domestic Product (GDP).
New this year, the report looks back to 1972, the first time the U.S. Census Bureau provided data on minority- and women-owned businesses. Nationally, the number of women-owned businesses increased a dramatic 31 times since 1972: from 402,000 to 12.3 million in 2018. Employment during that time grew 40-fold from 230,000 to 9.2 million, and revenues rose from $8.1 billion to $1.8 trillion – 217 times greater.
Among all 50 states and Washington, D.C., Wyoming is ranked 42nd in growth of number of women-owned firms since 2007 with a 22 percent increase, 12th in growth of jobs created with a 29 percent increase and 20th in growth of firm revenues with a 40 percent increase. Wyoming also tied for 9th in employment vitality, a measurement of employment growth rate between 2007 to 2018 and average number of employees.
As much growth as Wyoming has seen in the past nine years, the past couple of years has seen a decrease in the number of woman-owned businesses, from a high estimate of 20,200 in 2016, to a still-respectable estimated 19,100 in 2018. The last year that Wyoming had actual numbers was in 2012.
The Wyoming Business Report will be publishing a directory of woman-owned businesses in the next issue of Woman of Wyoming, an annual publication that will be inserted in the September issue of the Wyoming Business Report..
The directory, which is regularly surveyed and is as accurate as possible, currently has 944 confirmed woman-owned businesses. If your woman-owned business was left out of this year’s listing, please contact our researcher, Faith at email@example.com. If you put ‘Add my company to the woman-owned directory’ on the subject line, she will send you a survey to fill out.