Lessons from the 50 fastest growing women owned businesses
Women-owned firms have grown at a rate five times the national average since 2007, according to the 2016 American Express OPEN State of Women-Owned Businesses Report. To further the momentum and encourage more women-owned businesses to grow, the Women Presidents’ Organization (WPO)–a national nonprofit with 127 chapters located internationally–launched the 50 Fastest Growing Women-Owned/Led Companies Guide to Growth, sponsored by American Express.
Written by Dr. Marsha Firestone, president and founder of WPO, and Susan Johnson, director of communications for WPO, the book aims to help women business owners grow their enterprises through tried-and-true methods, and arms female entrepreneurs with actionable ways to succeed. It features stories from 15 different experienced female business owners, who are also winners of the 50 Fastest Women-Owned/Led Companies.
Fastest Growing by the Numbers
The 50 Fastest generated a combined $4.96 billion in 2015 revenues (mean of $99.2 million) and collectively employed 44,744 in 2015 (mean of 1,028). All eligible companies were ranked according to a sales growth formula that combines percentage and absolute growth. From this list, the 50 Fastest were selected. To be qualified for the ranking, businesses are required to be privately held, woman-owned/led companies and have reached revenue of at least $500,000 by the first week of 2011 and $2 million in 2015.
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