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July 20, 2006 Women-owned Firms in North Dakota on the Rise The number of North Dakota women-owned firms grew 6.3 percent from 1997 to 2002, which was twice the growth for all companies statewide, according to the Survey of Business Owners: Women-Owned Firms: 2002, which was published by the U.S. Census Bureau. This month’s “Economic Briefs,” a monthly publication from the North Dakota State Data Center at North Dakota State University, focuses on the number of women-owned firms in North Dakota. The Survey of Business Owners: Women-Owned Firms: 2002 focuses on nonfarm business organizations (companies with one or more establishments) and defines women-owned firms as companies in which women own 51 percent or more of the interest or stock of the business. In 2002, the 13,203 women-owned firms in the state generated $1.3 billion in revenue, up 12.9 percent from 1997 (inflation rose 12.1 percent during this time). In addition, there were 9,071 equally male/female-owned firms in 2002, with $1.7 billion in revenue. “The increase in both the number and proportion of women-owned companies in the state, along with their contributions to the equally-owned partnerships, demonstrates women’s growing entrepreneurial spirit,” says Richard Rathge, State Data Center director. “This economic boost is helping fuel the state’s expanding economy.” Women owned 23.3 percent of all North Dakota firms in 2002. Nationally, 28.2 percent of all firms were owned by women. Fifteen percent of women-owned firms in North Dakota had employees (employing 11,651 people), compared with 29.3 of all firms in the state. In 2002, 22.6 percent of women-owned firms in North Dakota operated in health care and social assistance. These firms accounted for 6.8 percent of women-owned business revenue. Another 21.3 percent of women-owned firms operated in retail trade, accounting for 29.5 percent of women-owned business revenue. ### Source: Richard
Rathge, (701) 231-8621, richard.rathge@ndsu.edu
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