Women

04.14.13

Female Businesses Boost Economy

New study shows small women-owned firms have grown at 1.5 times the national average.

Looks like small entrepreneurs are doing their part to "lean in": a new report from American Express shows that in the last 16 years, the number of female-owned firms has grown at 1.5 times the national average. These small firms are trying to rev up the sluggish economy. One hometown example: ZinePak, profiled by The New York Post. It's an entertainment publishing company run by two twentysomething girls and former ad-world employees. Founders Brittany Hodak and Kim Kaupe launched their venture two years ago with $60,000 in personal savings; now, they're raking in $2.6 million in annual revenues (expected to reach $4 million this next year with their expansion into i-Book sales) and they employ several full-time workers, as well as regularly hiring freelance talent. “We love to be job creators and empower other females who work for us,” Kaupe says. Female entrepreneurship has never looked so good.