Growth-oriented Women Entrepreneurs and their Businesses
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Growth-oriented Women Entrepreneurs and their Businesses

A Global Research Perspective

Edited by Candida G. Brush, Nancy M. Carter, Elizabeth J. Gatewood, Patricia G. Greene and Myra M. Hart

Enterprising new firms drive economic growth, and women around the world are important contributors to that growth. As entrepreneurs, they seize opportunities, develop and deliver new goods and services and, in the process, create wealth for themselves, their families, communities, and countries. This volume explores the role women entrepreneurs play in this economic progress, highlighting the challenges they encounter in launching and growing their businesses, and providing detailed studies of how their experiences vary from country to country.
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Chapter 8: Women’s Entrepreneurship in the United States

Candida G. Brush, Nancy M. Carter, Elizabeth J. Gatewood and Myra M. Hart


Candida G. Brush, Nancy M. Carter, Elizabeth J. Gatewood, Patricia G. Greene and Myra M. Hart OVERALL ENTREPRENEURIAL ACTIVITY IN THE US The participation of United States women in entrepreneurial activity is best considered within the context of the overall US (and world) entrepreneurial sector. There are approximately 23 million small firms in the US economy, representing over 99 percent of all US firms. Small firms employ half of all private sector employees and generate over 44 percent of private payroll in the US – and approximately 50 percent of private, gross domestic product. In addition, small firms are responsible for 60–80 percent of net new jobs for the US economy in any year (SBA Office of Advocacy, 2004). The US population is almost 300 million people, approximately 180 million are between the ages of 18 years and 64, and of this group, over 11 percent are involved in starting a new business or own or manage a business that is less than 42 months old, which means that in 2004 more than 20 million people in the US were involved in entrepreneurial activity. The 2004 US total entrepreneurial activity (TEA) (Hancock and Fitzsimons, 2004) is the highest among G7 countries, and the fourth highest of developed countries, lagging behind New Zealand (14.67 percent), Israel (13.57 percent), and Australia (13.38 percent). WOMEN’S ENTREPRENEURSHIP Growth in Numbers and Impact Entrepreneurial activity In 2004 US men were still more entrepreneurially active than US women, 184 CHAPTER 8 31/3/06 12:47 PM Page...

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