Chapter 46: Women as Entrepreneurs and Business Owners

Dorothy Perrin Moore

Women as entrepreneurs and business owners The word entrepreneur has a precise definition: It means an individual who founds a firm that creates new markets and customers. The term business owner has a wider reach: It includes those who take over an established operation or acquire majority control. Here the terms entrepreneur and business owner are used interchangeably. This chapter also follows the federal definition for a woman-owned business. In 1997, to state more accurately which businesses should be eligible for set-asides in government procurement and federally funded programming, the Economic Census redefined women-owned firms as those in which ownership is 51% or more of the business. In the United States, according to the Center for Women's Business Research (2008–2009), there are 10.1 million privately held businesses that are at least 50% woman-owned; of these, 7.2 million are 51% woman-owned. The 50% woman-owned financially stable and growing firms generate nearly ...

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