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Finance News - Average Earnings of Female-Owned Firms Down by 26%

Average Earnings of Female-Owned Firms Down by 26%

  • Marina Avramovic
  • April 13, 2022

The Annual Women-Owned Business Study, which analyzed 100,000 firms, revealed that revenues and profits for women-owned enterprises took a sharp decline in 2021.

Namely, women-owned businesses earned an average of $88,895 in 2021, which was 26% less than the previous year and significantly lower than their male counterparts ($136,147, to be precise).

The main reason behind this drop was the 4% decrease in overall annual revenue — in 2021, the average annual revenue for women-owned businesses amounted to $475,707 (from $493,401 in 2020). In addition to that, there was also a 3% increase in operating costs.

Moreover, female business owners’ average credit score decreased from 588 in 2020 to 580 in 2021 — 14 points below that of males (594). That said, the average credit score for male-owned enterprises also fell by 16 points. (from 611 in 2020 to 594 in 2021).

What’s more, the weighted average approved amount for women-owned firms under the Paycheck Protection Program (including PPP1 and PPP2) across all SBA lending platforms was 47% lower than that of male-owned businesses ($41,304 vs. $78,229).

Likewise, the weighted average approved amount for female-owned enterprises under PPP1 was 39% lower than that for male-owned firms ($70,017 vs. $114,970).

Regarding the loans, in 2020 and 2021, the average loan size for women’s-owned firms was 33% smaller than that of male-owned businesses — $36,981 vs. $55,061 and $49,712 vs. $83,198, respectively. Additionally, Texas was the most popular state for business loan applications with 10.84%.

Last but not least, the funding acceptance rate for men-owned applicants was almost identical to that for women-owned businesses (41% vs. 40%).

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Marina Avramovic

Marina is a content writer and a film-maker who spends most of her time in front of the computer, writing articles and blog posts on various subjects, learning fictional languages or editing avant-garde movies. This compulsive penchant for learning new ways of dreaming and writing became her dream job. When she's not obsessing about work she tries to cook, read dystopian novels and go on adventures with her dog.

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