Study: Women entrepreneurship up, revenue down

By Alexander Soule

Women-owned businesses ceded economic heft in Connecticut in the past year, according to a new study, though the state again saw an increase in the number of companies created or acquired by female entrepreneurs.

In its annual American Express Open study of women-owned businesses, American Express estimated those companies generated $16.4 billion in combined revenues in Connecticut — off 0.9 percent from 2016 estimates — and employed 200 fewer people for a combined workforce numbering 95,300 employees in all.

American Express extrapolates its estimates based from the U.S. Census Bureau’s Survey of Business Owners, which is conducted every five years including in 2017. The newest American Express Open report issued Wednesday is based on projections from the 2012 survey.

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