Maine lags far behind the nation for growth of women-owned businesses, according to a report issued Tuesday by American Express OPEN.
Projected figures for 2015 show that the number of women-owned firms in Maine has grown at less than half the national rate since 1997, the report said. The projections are based on data from the U.S. Census Bureau’s quinquennial business census, the Survey of Business Owners.
American Express estimated that there are 41,700 women-owned businesses in Maine, up 36.3 percent from 30,600 firms in 1997.
Nationally, there are about 9.4 million women-owned businesses, up about 74 percent from 5.4 million firms in 1997.
Projected revenue growth for all women-owned firms in Maine was 14.4 percent between 1997 and 2015, compared with 78.7 percent growth nationally.
American Express ranked Maine 47th among the 50 states in growth of the number of women-owned firms over the past 18 years, and 50th in combined revenue growth among women-owned businesses between 1997 and 2015.
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