OPEN from American ExpressSM is the exclusive underwriter of the 2006 biennial update.

"The number of women-owned firms has grown at around twice the rate of all firms for more than two decades," said Marjorie Alfus, chair of the Center for Women's Business Research. "Women business owners are significant players in the nation's economy and their momentum shows no sign of slowing down."

The new projections also show that there are 10.4 million businesses 50% or more owned by a woman or women that employ 13 million employees and generate nearly $2 trillion ($1.9) in revenues.

In 2006, majority women-owned firms are expected to generate more than $1 trillion ($1.1) in revenues and employ 7.2 million workers. Nearly three-quarters (74%) of all women-owned firms are majority women-owned.

"OPEN from American Express is an active partner of women entrepreneurs as they grow their businesses," said Susan Sobbott, president, OPEN from American ExpressSM. "Our work with the Center for Women's Business Research helps quantify the significant contribution women are making in the economy in terms of economic growth and job creation. And through
our Make Mine a $Million Business program (www.makemineamillion.org
<http://www.makemineamillion.org/> ) we are changing the lives of women entrepreneurs by helping them turn high-potential businesses into million-dollar enterprises."

The fastest growing industry sectors for majority-owned firms (between 1997 and 2006) are wholesale trade (283%), health care services (130%), arts, entertainment and recreation (117%), and professional, scientific and technical services (83%). The largest percentage of majority women-owned firms is in the service sector (69%) followed by retail trade (14%).

The 2006 regional, state and metro updates of women-owned businesses will be released in late fall of this year.

Center for Women's Business Research
The Center for Women's Business Research is the premier source of knowledge about women business owners and their enterprises worldwide. The Center's mission is to unleash the economic potential of women entrepreneurs by conducting research, sharing information and increasing knowledge about this fast-growing sector of the economy.  The Center shares its knowledge of the economic and social aspects of women's entrepreneurship with policymakers, financial institutions, corporate leaders, government agencies, academia, and the media through research reports, press releases, newsletter, publications, seminars, speaking engagements, and worldwide on the Internet at
www.womensbusinessresearch.org <http://www.womensbusinessresearch.org/>

OPEN is the American Express team dedicated exclusively to the success of small business owners and their companies. The OPEN Team supports business owners with unparalleled service. With tailored products and services, the team delivers purchasing power, flexibility, control and rewards to help customers run their business. Specifically, business owner customers can leverage an enhanced set of products, tools, services and savings, including charge and credit cards, convenient access to working capital, robust online account management capabilities and savings on business services from an expanded lineup of partners. To obtain more information about OPEN, visit www.OPEN.com <http://www.open.com/>, or call 1-800-NOW-OPEN to apply for a Card or loan.  Terms and conditions apply.
 

Contact:  Juanita Weaver
Center for Women's Business Research
202-638-3060 x 719
jweaver@womensbusinessresearch.org
<mailto:jweaver@womensbusinessresearch.org>

Rosa Alfonso
OPEN from American ExpressSM
212-640-1712
rosa.m.alfonso@aexp.com