New York Women-Owned Businesses See Strong Growth

The state experienced an 11.4 percent increase in women-owned enterprises from 2021 to 2023.

Updated on Oct. 29, 2026 in Women’s Issues

Bold vector editorial illustration featuring two minimalist lamps on a clean workspace, representing New York's rising women-led business growth. — Women-owned businesses in New York increased by 11.4 percent between 2021 and 2023, now accounting for 35 percent of all state enterprises. AI Illustration. Upload story photo >

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Women-owned businesses in New York grew by 11.4 percent between 2021 and 2023, outpacing the national average of 7 percent. This growth puts the state in 11th place nationally for women-led entrepreneurship.

Why it matters

The rise of women-owned firms highlights a shift in the regional business landscape, as these enterprises now represent 35 percent of all businesses in New York. This trend demonstrates the significant impact these leaders have on the state's broader economic growth.

Women own 35 percent of all businesses in New York, with those firms featuring employees generating an average annual revenue of $1,520,971. Only 10 percent of these women-owned businesses currently maintain a staff of employees.

The details

New York achieved a score of 85.52 out of 100 in the national ranking study, which evaluated states based on business growth rates and the share of women-owned firms. The analysis focused on four distinct measures, including average revenue for businesses with employees and the overall prevalence of women-owned entities.

1988 marked the signing of the Women's Business Ownership Act into law.
The measured period for business growth rates occurred between 2021 and 2023.
October 2026 is designated as National Women's Small Business Month.

Culture Shift

The rise in women-led businesses follows the trajectory established by the Women's Business Ownership Act, which provided the legal framework for federal support of women entrepreneurs. This progress reflects a long-term societal move toward increasing female participation in the economy.

The robust growth of women-owned businesses may influence local purchasing patterns and job opportunities within your community. Residents and aspiring entrepreneurs can use these trends to understand the evolving economic environment and support regional business development.

The takeaway

The recent expansion of women-owned firms demonstrates a strong momentum for female entrepreneurs in the region. Aspiring business owners should evaluate these growth figures when considering the viability of launching new ventures in the current market.