C-Suite Wednesday – Women-Owned Small Businesses and Supply Chain Stats

August 11, 2021

Delaney Sexton
Contributing Editor

C-Suite Wednesday – Women and Supply Chain Stats

The SBA Office of Advocacy just released two reports. The first report provides data on women-owned small businesses and their underrepresentation in the small business world. In the other report, the Office of Advocacy outlines supply issues affecting small businesses.


Women-Owned Small Businesses
• There are 1.1 million women-owned employer businesses (roughly 945,000 are nonminority and 285,000 are minority-owned) with 10.1 million employees. They have $1.8 trillion in receipts and a $388.1 billion payroll.
• Women small business owners are underrepresented in every demographic. The highest representation is 36.8% of American Indian & Alaska Native-owned businesses are owned by women, and the lowest representation is less than 20% of White-owned businesses are owned by women.
• Women own the most businesses in the professional, scientific, and technical services industry with 191,230 women-owned businesses. This is followed by 189,351 women-owned businesses in the health care and social assistance industry and 130,203 women-owned businesses in the retail trade industry.
• 42% of women-owned businesses are firms that have operated for 5 years or less. 40% of women-owned businesses are firms aged 11 years or older. These mature firms employ 59% of workers, generate 70.4% of sales, and 65% of payroll out of all women-owned businesses.


Supply Chain Issues Affecting Small Businesses
• 37.2% of small businesses had domestic supplier delays in the week of June 7th-13th, 2021.
• Manufacturing, construction, and retail trade industries were the most affected by supply chain issues in June 2021 at 61.6%, 60.5%, and 57.4% of businesses affected, respectively.
• The Producer Price Index increased 19% for all commodities from May 2020 to May 2021.
• 48% of small business owners say the cost of materials will increase the most in the next six months.
• The Federal Reserve’s Business Inflation Expectation Survey in June 2021 was 3%. This is the highest it has ever been since the start of the survey nearly 10 years ago.

Sources:
Supply Chain Report
Women in Small Business Report