SUMMARY OF FINDINGS________________________MINORITY-/WOMEN-OWNED BUSINESSES =>WOMEN-OWNED BUSINESSES Women owned over 6.4 million of all U. S. businesses in 1992, employing over 13 million persons and generating $1.6 trillion in business revenues. The data in this report were collected as part of the 1992 Economic Census from a large sample of all non-farm businesses filing 1992 tax forms as individual proprietorships, partnerships, or any type of corporation, and with receipts of $500 or more. 1992 was the first time "C" corporations were sampled for inclusion in this survey. All U. S. Firms by Legal Form of Organization: 1992 All U.S. Firms Legal form of organization Firms Receipts (thous.) ($bil.) All industries 19,286 14,071.4 Individual proprietorships 14,599 721.6 Partnerships 1,090 665.0 Subchapter S corporations 1,564 1,937.7 C corporations 2,033 10,747.1 Women-Owned Businesses by Legal Form of Organization: 1992 Women-owned Firms Legal form of organization Firms Receipts (thous.) ($bil.) All industries 6,407 1,574.2 Individual proprietorships 5,078 122.0 Partnerships 244 88.3 Subchapter S corporations 567 432.3 C corporations 518 931.6 => "C" CORPORATIONS There were over 517 thousand women-owned "C" corporations in 1992, representing 26% of the total "C" corporations. Receipts were $932 billion, about 9% of the total receipts of all "C" corporations. Eighty percent of these businesses were employers with 7 million employees and $154 billion in payroll. The proportion of "C" corporations owned by women was relatively evenly distributed by type of business, ranging from 22% in mining to 31% in retail trade. The table below shows the statistics for women-owned "C" corporations by major industry group for 1992, and comparable data for all U.S. "C" corporations. Comparison of Woman-Owned "C" Corporations to All Corporations by Major Industry Group: 1992 -------------------------------------------------------------------------- part A Agri. services forestry All industries and fishing Mining Construction Number of Companies Women 517,832 6,006 3,636 49,433 Total 2,033,369 22,726 16,319 199,584 Women % tot 25.47% 26.43% 22.28% 24.77% Receipts ($1,000,000) Women 931,606 3,122 5,335 44,169 Total 10,747,083 15,161 140,375 296,765 Women % tot 8.67% 20.59% 3.80% 14.88% Number of Companies with Paid Employees Women 426,681 4,816 2,427 41,748 Total 1,656,575 17,850 11,411 167,466 Women % tot 25.76% 26.98% 21.27% 24.93% Receipts for Companies with Paid Employees ($1,000,000) Women 923,642 2,826 5,155 43,505 Total 10,711,725 14,397 139,973 292,748 Women % tot 8.62% 19.63% 3.68% 14.86% Number of Employees Women 6,965,037 37,129 36,449 374,803 Total 62,951,041 219,646 518,071 2,340,748 Women % tot 11.06% 16.90% 7.04% 16.01% Payroll ($1,000,000) Women 153,924 668 879 10,061 Total 1,586,139 4,219 14,994 66,281 Women % tot 9.70% 15.83% 5.86% 15.18% Relative standard error of estimate (percent): Women Number of Companies 1 7 9 4 Receipts 3 18 4 10 Comp w/ paid emp 2 7 10 4 Receipts 3 19 4 11 -------------------------------------------------------------------------- part B Transportation and public Wholesale Retail Manufacturing utilities trade trade Number of Companies Women 39,517 25,303 58,517 114,624 Total 175,915 87,321 235,411 365,988 Women % tot 22.46% 28.98% 24.86% 31.32% Receipts ($1,000,000) Women 274,539 74,490 179,358 117,201 Total 3,957,859 765,800 1,380,466 1,342,496 Women % tot 6.94% 9.73% 12.99% 8.73% Number of Companies with Paid Employees Women 35,332 21,724 51,299 105,449 Total 159,280 71,488 206,116 333,431 Women % tot 22.18% 30.39% 24.89% 31.63% Receipts for Companies with Paid Employees ($1,000,000) Women 274,166 74,092 178,483 116,395 Total 3,956,240 764,051 1,376,652 1,338,901 Women % tot 6.93% 9.70% 12.97% 8.69% Number of Employees Women 1,502,969 653,193 669,207 1,129,049 Total 16,477,305 4,645,445 3,319,356 11,975,846 Women % tot 9.12% 14.06% 20.16% 9.43% Payroll ($1,000,000) Women 42,156 16,008 17,170 15,290 Total 495,357 151,707 90,982 154,582 Women % tot 8.51% 10.55% 18.87% 9.89% Relative standard error of estimate (percent): Women Number of Companies 3 4 5 4 Receipts 8 21 6 7 Comp w/ paid emp 3 5 6 4 Receipts 8 21 6 7 -------------------------------------------------------------------------- part C Finance Industries insurance not real estate Services classified Number of Companies Women 65,130 150,521 5,146 Total 271,620 632,232 26,253 Women % tot 23.98% 23.81% 19.60% Receipts ($1,000,000) Women 155,144 73,238 5,011 Total 1,860,793 885,895 101,473 Women % tot 8.34% 8.27% 4.94% Number of Companies with Paid Employees Women 36,124 126,120 1,641 Total 147,773 534,475 7,285 Women % tot 24.45% 23.60% 22.53% Receipts for Companies with Paid Employees ($1,000,000) Women 153,264 71,466 4,290 Total 1,852,400 877,266 99,097 Women % tot 8.27% 8.15% 4.33% Number of Employees Women 666,279 1,827,291 68,668 Total 8,603,829 13,243,899 1,606,896 Women % tot 7.74% 13.80% 4.27% Payroll ($1,000,000) Women 19,039 31,896 757 Total 248,623 341,959 17,435 Women % tot 7.66% 9.33% 4.34% Relative standard error of estimates (percent): Women Number of Companies 4 3 13 Receipts 7 8 26 Comp w/ paid emp 6 3 24 Receipts 7 8 30 => INDIVIDUAL PROPRIETORSHIPS, PARTNERSHIPS AND SUBCHAPTER S CORPORATIONS In 1992, women-owned businesses, other than "C" corporations, numbered 5.9 million, 34.1% of all firms in the U.S. This is an increase of 4.1 million or 43 percent from 1987. Receipts more than doubled, increasing from $278 billion to $643 billion, or 19.3% of all receipts. Comparable data for all businesses show a 26% increase in number from 13.7 million in 1987 to 17.3 million in 1992, while receipts grew 67% from $1,995 billion to $3,324 billion. Percent Increase by Legal Form of Organization for Women-Owned Firms Compared to All U.S. Firms: 1987 to 1992 Percent Increase Women- All Legal form of organization owned U.S. firms firms Individual proprietorships 36.4 20.4 Partnerships 56.4 65.1 Subchapter S corporations 139.8 71.6 =>INDUSTRY CHARACTERISTICS Nearly three quarters of these women-owned firms operated as a service or retail trade; this is 41 percent of all such businesses in the country. Within retail, women are particularly concentrated in apparel and accessory stores, where they own 54.2 percent of all firms and account for 34.3 percent of gross receipts and miscellaneous retail stores with 53 percent of all firms and 31 percent of gross receipts. The number of women-owned construction businesses nearly doubled between 1987 and 1992, while wholesalers increased 87 percent, confirming large growth in the less traditional women business sectors. Top Industry Receipt Leaders for Women-Owned Firms: 1992 Receipts Industry ($Mil.) RETAIL TRADE......................................... 155,853 55 Automotive dealers & gasoline service stations. 43,269 59 Miscellaneous retail........................... 36,122 58 Eating and drinking places..................... 27,668 54 Food stores.................................... 23,136 57 Home furniture, furnishings, & equipment stores 8,530 SERVICES............................................. 130,745 73 Business services.............................. 32,476 80 Health services................................. 24,925 72 Personal services............................... 15,699 87 Engineering, accounting, research, management, and related services............... 14,403 70 Hotels, rooming houses, camps, and other lodging places......................................... 8,081 WHOLESALE.............................................124,847 51 Wholesale trade--nondurable goods............... 65,947 50 Wholesale trade--durable goods.................. 58,900 MANUFACTURING......................................... 90,635 22 Textile mill products........................... 10,135 27 Printing, publishing, and allied industries .... 9,347 20 Food and kindred products....................... 9,314 23 Apparel and other finished products made from fabrics and similar materials.................. 6,932 34 Fabricated metal products, except machinery & transportation equipment....................... 6,866 =>GEOGRAPHIC CHARACTERISTICS California had the most women-owned firms at 801,487 or 13.6 percent with receipts of $85 billion or 13.2 percent. Texas was second with 414,179 or 7 percent with receipts of $35.3 billion. New York was slightly behind Texas in number of firms with 395,944 but was second in receipts with $60 billion. New York accounted for 6.7 percent of all women-owned firms but 9.3 percent of receipts. Listed below is shown the 10 metropolitan areas (MA's) with the largest number of women-owned firms and compares the firms and receipts in these MA's with the number in their respective States. These 10 MA's account for 21 percent of the total number of women-owned firms in the United States and 25.3 percent of the gross receipts. In addition, county and city comparisons are listed below. Comparison of Women-Owned Firms in 10 Largest Metropolitan Areas with Women-Owned Firms in State: 1992 MSA Firms Receipts (number) ($1,000) Los Angeles-Long Beach, CA PMSA.. 232,723 28,674 New York, NY PMSA................ 187,525 36,540 Chicago, IL PMSA................. 163,883 26,480 Washington, DC--MD--VA MSA...... 122,007 10,729 Phildelphia, PA--NJ PMSA........ 95,441 15,778 Houston, TX PMSA................. 87,303 9,841 Boston, MA--NH PMSA.............. 86,133 9,652 Atlanta, GA MSA.................. 82,821 8,187 Dallas, TX PMSA................. 80,830 8,803 Detroit, MI PMSA................ 80,673 9,118 State Firms Receipts Pct MSA to State (number) ($1,000) Firms Receipts California........................ 801,487 84,943 29 34 New York.......................... 395,944 59,950 47 61 Illinois.......................... 250,613 33,289 65 80 District of Columbia.............. (X) (X) (X) (X) Pennsylvania...................... 227,500 29,400 42 54 Texas............................. 414,179 35,330 21 28 Massachusetts..................... 147,572 16,104 58 60 Georgia........................... 143,045 22,450 58 36 Texas............................. 414,179 35,330 20 25 Michigan.......................... 193,820 17,797 42 51 Comparison of Women-Owned Firms in 10 Largest Counties with Women-Owned Firms in State: 1992 County Firms Receipts (number) ($1,000) Los Angeles, CA................. 232,723 28,674 Cook, IL......................... 102,224 18,291 Orange, CA....................... 75,219 9,688 Harris, TX....................... 74,663 9,233 New York, NY..................... 67,976 21,930 San Diego, CA.................... 67,013 6,658 Maricopa, AZ..................... 56,833 6,272 Dallas, TX....................... 56,756 7,482 Dade, FL......................... 54,394 7,976 King, WA......................... 52,427 8,489 State Firms Receipts Pct Cnty to State (number) ($1,000) Firms Receipts California...................... 801,487 84,943 29 34 Illinois........................ 250,613 33,289 41 55 California...................... 801,487 84,943 9 11 Texas........................... 414,179 35,330 18 26 New York........................ 395,944 59,950 17 37 California...................... 801,487 84,943 8 8 Arizona......................... 93,300 8,974 61 70 Texas........................... 414,179 35,330 14 21 Florida......................... 352,048 39,485 15 20 Washington...................... 136,337 16,057 38 53 Comparison of Women-Owned Firms in 10 Largest Cities with Women-Owned Firms in State: 1992 City Firms Receipts (number) ($1,000) New York, NY..................... 149,773 31,142 Los Angeles, CA.................. 102,276 13,413 Houston, TX...................... 47,850 7,214 Chicago, IL...................... 46,715 7,936 San Diego, CA.................... 28,724 3,862 Dallas, TX....................... 28,573 4,397 San Francisco, CA................ 26,348 4,689 Phoenix, AZ...................... 24,257 3,031 Seattle, WA...................... 19,531 4,345 Indianapolis, IN................. 18,083 3,092 State Firms Receipts Pct City to State (number) ($1,000) Firms Receipts New York........................ 395,944 59,950 39 52 California...................... 801,487 84,943 13 16 Texas........................... 414,179 35,330 12 20 Illinois........................ 250,613 33,289 19 24 California...................... 801,487 84,943 4 5 Texas........................... 414,179 35,330 7 12 California...................... 801,487 84,943 3 6 Arizona......................... 93,300 8,974 26 34 Washington...................... 136,337 16,057 14 27 Indiana......................... 125,411 16,056 14 19 =>LEGAL FORM OF ORGANIZATION Eighty six percent of women-owned firms operated as individual proprietor- ships in 1992, down from 90.5 percent in 1987. This group accounted for 19 percent of gross receipts compared to 29 percent in 1987. Subchapter S corporations accounted for only 9.6 percent of the total number of firms but 67.3 percent of the gross receipts. This is up from 5.7 percent of the firms and 60.5 percent of gross receipts in 1987. Of the total number of firms, 243,651 or 4.1 percent were partnerships, accounting for 13.8 percent of gross receipts. Partnerships accounted for 3.8 percent of the total women-owned firms and 10.5 percent of gross receipts in 1987. (For tables, see above.) =>SIZE OF FIRM Women-owned firms with paid employees accounted for 14 percent of the total number of firms and 85.7 percent of gross receipts. There were 6,663 firms with 100 employees or more which accounted for $158 billion in gross receipts (28.6 percent of the total receipts of employer firms). There were 79,037 or 1.4% of all women-owned firms with gross receipts of $1 million or more, 63.9 percent of all the gross receipts. Thirty-nine percent of the firms had gross receipts of less than $5 thousand. ###