April 28, 2004 8:15 AM

Behind every fast growing company is ... a woman
Posted by Diane Danielsonat 8:15 AM

The New York Times reports today that companies owned by women are growing at double the rate of all small businesses in the nation.

"We estimate that women-owned firms are growing at close to twice the rate of all privately held firms, 17 percent versus 9 percent," said Myra M. Hart, a Harvard Business School professor and chairwoman of the center.

According to the the Center for Women's Business Research study, businesses owned by women are found in all industries, but 45 percent, or 4.9 million, are service companies; 16.4 percent, or 1.8 million, are in retail; 9 percent, or 966,662, in finance, insurance or real estate; and 6 percent, or 652,807, in construction. The focus on service companies explains the disconnect from the VC world mentioned in earlier posts (see Trying a reverse WAVE).

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