Today in Boston, 18,709 woman-owned businesses employ 26,209 people. These businesses account for more than $4 billion in sales and contribute almost $7.6 billion to the Gross City Product. Women-owned businesses also increase consumer spending by $1.4 billion and provide more $208 million in tax revenue.
Women make up more than half of Boston’s residents, yet 1 dollar out of every 23 dollars in commercial bank loans go to women-owned businesses, while only three percent of venture capital investments go to businesses led by women. Women-owned businesses continue to face challenges including limited funding, challenges in scaling, and finding mentors and networks to support them as they grow.
To help bridge these challenges and promote economic equity for all Boston’s women, Mayor Martin J. Walsh has launched WEBOS, the City’s program to convene and support Boston’s women entrepreneurs of Boston. Together with the Mayor, we are working to ensure that our city is a place where everyone can succeed. Gender equity in Boston is good for individuals, for families, and for Boston’s economy as a whole. CLICK HERE for more information