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Women Entrepreneurs in the U.S.: 2025 Growth Trends and Outlook

Historically, women entrepreneurs overcame persistent barriers, while creating employment opportunities and building enterprises that strengthen their communities. There are now 14.5 million women-owned businesses in the U.S., generating $3.3 trillion in annual revenue.1 These enterprises grew 17.1% between 2019 and 2024 and employ 12.9 million workers nationwide.2


Growth of women in business continues to accelerate.

Women launched 49% of new businesses in 2024 — a 69% increase which was the highest in a five-year period.3 Who are the visionaries leading this growth? In 2023, just over half of women entrepreneurs were White/European. Women of Color were an almost equal percentage (49.9%) of small business owners with representation across ethnic groups as follows.4

  • African American (21.1%)
  • Latina/Hispanic (18.1%)
  • Asian American (9%)
  • Native American/Alaskan Native (1.4%)
  • Native Hawaiian/Pacific Islander (.03%)

In 2024, the number of women-owned small businesses (WOSB) increased substantially. Of 1.7 million new business applications filed last year 49% were women.5 Black, Latinx and Asian Pacific women fueled this growth, representing 66%, 25% and 16% of new business applications, respectively.6


What’s driving growth in women entrepreneurs?

Personal, social and economic factors are motivating women to become business owners. In addition, increased access to digital resources is reducing costs and making it easier for these entrepreneurs to succeed.

  • Desire for independence and flexibility

    According to H&R Block subsidiary Block Advisors’ recent “State of Women’s Small Business Report,” 92% of women entrepreneurs want to be their own boss and 89% want to set their own schedules.7 With this flexibility, women can balance their professional ambitions with personal responsibilities to achieve greater work-life harmony.

  • Drive for community impact and legacy

    Improvement in the communities in which they live motivates many women to launch businesses. In fact, more than half of women-owned businesses offer health care, social assistance and personal care, as well as professional and technical, administrative and support and beauty services.8 Service-based businesses can evolve into employer firms that positively impact communities for decades.

  • Aspirations for economic empowerment

    A Pew Research Center study revealed, on average, women earned 85% of what men earned in 2024.9 This persistent wage gap motivates many women to pursue entrepreneurship to increase earnings.

  • Need for innovation

    Women identify unmet market needs through their lived experiences. Such experiences enable them to develop products and services that are often overlooked in the traditional marketplace.

Access to digital tools and platforms helps eliminate traditional barriers to starting a business. E-commerce marketplaces, social media marketing and cloud-based business tools enable women entrepreneurs to launch businesses with lower capital requirements, as well as increase geographic reach.


Florida and Georgia are top states for women-owned businesses.

With booming populations and favorable business climates, two states in the Southeast are among top locations for women-owned businesses.10

  • Florida
    • Florida has the highest number of small woman-owned companies relative to populations with almost six (5.77) per 100 residents.
    • Miami has 8.85 per 100 residents and leads the nation in WOSBs. Orlando is also among the top cities in Florida for WOSBs, with 5.84 per 100 residents.
    • Palm Bay, FL has a close ratio of women-to-men-owned small businesses (.87 to 1).

  • Georgia
    • Georgia boasts 5.22 WOSBs businesses per 100 residents.
    • The state has the closest proportion of women-to-men-owned small businesses (.89 to 1).
    • With 6.26 WOSBs per 100 residents, Atlanta is the leading city for women entrepreneurs.

Women's entrepreneurship thrives in metropolitan areas offering diverse economies and support networks.


Women-owned businesses are achieving rapid revenue growth and economic impact.

global
Closing the employment and entrepreneurship gender gaps could increase the global GDP by 20%.15

On average, women entrepreneurs earned nearly $520,000 in annual revenue last year —representing 15% growth.11 In 2024, these firms accounted for 6.2% of U.S. total business revenue.12 They also significantly contribute to job creation, tax revenue and supply chain participation.


Women in business are facing unique challenges.

Despite their accomplishments, women in business face substantial barriers that limit growth and scaling potential.

  • Limited access to capital

    A significant funding gap persists between male-owned, male-female owned and female-owned small businesses. Women-founded startups consistently receive less than 2% of venture capital funding and less than a third of deals.13

  • Insufficient leadership representation

    Women are underrepresented in corporate leadership. In turn, they have less influence over procurement, investment and partnership decisions that could benefit women-owned suppliers and ventures.

  • Systemic gender bias and stereotypes

    Assumptions about women's technical expertise, leadership capabilities or commitment to business growth affect funding decisions and partnership opportunities. These biases manifest in subtle but pervasive ways that compound over time.

Financial institutions and investors must create equitable access to capital through dedicated loan programs, venture funds and grants for women entrepreneurs.

Corporations should prioritize diversity in leadership, ensuring women have a seat at decision-making tables where procurement, investment, and partnership opportunities are determined. Additionally, comprehensive training and awareness initiatives can help dismantle systemic gender bias and stereotypes, promoting fair evaluation of women's technical skills and leadership abilities. Fostering inclusive networks, expanding mentorship programs and implementing transparent policies can empower women to scale their ventures and achieve lasting growth.


What does the future of women in business look like?

With increasing new business applications and ownership, trends for women in business point to sustained growth over the coming decade. Generational changes are further accelerating women's business ownership as Millennials and Gen Z display higher entrepreneurial intentions than previous generations.14

Policy initiatives supporting women entrepreneurs are growing at the federal, state and local levels. The Small Business Administration expanded lending programs specifically targeting women-owned businesses, while state governments have created tax incentives and grant programs supporting women entrepreneurs.

These changes signal a bright future for women in business. With continual societal, policy and corporate change, women entrepreneurs will have the opportunities and funding to compete and grow. What would their contributions mean? The World Economic Forum estimates closing the gender gaps in employment and entrepreneurship could increase the global GDP by 20%.15


Empower your business for growth.

As owners of close to 40% of U.S. small companies, women entrepreneurs continue to reshape American business through innovation, determination and strategic growth. However, remaining gaps in funding, mentorship and scaling highlight opportunities for continued advancement.

Supporting women's business success strengthens communities, drives economic growth and creates opportunities for future generations. As an SBA Preferred Lender, Synovus can help. In addition to funding, we offer comprehensive banking solutions tailored to helping small businesses succeed, including cash flow management, loans and lines of credit. For more details, contact a Synovus Business Banker, call 1-888-SYNOVUS (1-888-796-6887) or stop by one of our local branches.

Important disclosure information

This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.

  1. EntrepreneursHQ, “60+ Women in Business Statistics: 2025 Facts, Trends & The Future,” June 9, 2025 Back
  2. Ibid Back
  3. Inc., “Women Created Half of New Businesses Registered in 2024, a Milestone,” April 3, 2025 Back
  4. National Association of Women Business Owners, “Small Business Statistics in 2024,” March 6, 2024 Back
  5. Inc., “Women Created Half of New Businesses Registered in 2024, a Milestone,” April 3, 2025 Back
  6. Ibid Back
  7. Block Advisors, “2024 State of Women’s Small Business Report by Block Advisors Reveals Resilience Despite Persistent Support Barriers,” October 8, 2024 Back
  8. Gusto, “What Comes Next with Rising Female Entrepreneurship,” September 20, 2024 Back
  9. Pew Research Center, “Gender Pay Gap in U.S. Has Narrowed Slightly Over 2 Decades,” March 4, 2025 Back
  10. LegalZoom, “Places the U.S. with the Most Women-Owned Small Businesses,” August 7, 2025 Back
  11. Forbes, “Women-Owned Businesses Received More Loan Approvals, Higher Amounts in 2024,” March 31, 2025 Back
  12. National Women’s Business Council (NWBC), “2024 Annual Report” Back
  13. PitchBook, “US VC Female Founders Dashboard,” September 3, 2025 Back
  14. Gusto, “Woman are Behind Nearly 1 in 2 New Businesses—Here’s What’s Driving the Shift,” May 21, 2025 Back
  15. World Economic Forum, “Advancing Gender Parity in Entrepreneurship: Strategies for a More Equitable Future,” January 20, 2025 Back