According to U.S. Census Bureau information, 36 percent of all businesses in Virginia are owned by women. In 2012, Virginia was #12 in the nation for women-owned firms with 237,371. But in 2015, that number is estimated to be 277,154. Christine Chmura, owner of Chmura Economics, revealed that women-owned businesses in Virginia are growing four times greater than the total growth of all firms in the state.
Women contributing to economic growth
In 2012, firms owned by women in Virginia were responsible for $45 billion in economic growth. In 2015, that growth is expected to be $57.2 billion, which is an annual increase of 8.3 percent. As Chmura stated, “The state of women-owned firms is good here and nationally.” However, she did note that there is room for improvement in the construction industry for women-owned firms.
If more women tap into the construction industry, they will be able to increase their economic growth even more by getting government contracts. Women-owned businesses are defined as companies that are 51 percent or more owned by women.
Read more at www.washingtontimes.com/news/2015/nov/5/study-women-owned-businesses-growing-in-virginia-e/
