New York, 06 March 2025 (Globe Newswire)-In his annual analysis of over 53,000 enterprises, the study of women owned by Biz2Credit found that the percentage of funding (36%) for women-owned businesses in 2024 was only 29%.
Moreover, that the average amounts of funds that women received increased by 25% from 2023 to 2024. In 2023, the average amount of funding for women owned by women was $ 53,678. A year later, in 2024, the average amount was $ 67,035.
Further analyzes showed that the average annual income of women owned by women in 2024 increased 15% to about $ 520,000, although spending also increased.
Business study of women owned by women in Biz2Credit examined financial indicators, including annual income, operating expenses, income, business age, credit results, financing rates and amounts of financing of companies that applied for loans on the Biz2Credit online platform in 2024.
“The rate of funding and the average amount of loan for women owned by women increased in 2024, which is good news,” said Rohit Arara, CEO and co -founder of Biz2cred and one of the country’s leading business experts. “The percentage of women’s financing applications was 36%, compared to 29% for men last year. Businesses owned by women also shortened gap to average financing size to only 20% less than men’s businesses, a significant improvement compared to the 40% difference of 40%.”
“Everything is not pink, however,” Arora added. “Women owners of the business, along with their male counterparts, saw the costs grow significantly due to inflation in 2024. SMB hopes the costs will fall, though it has not happened yet.”
The main findings:
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Funding rate For women -owned businesses increased from 35% to 2023 in 36% in 2024. In contrast to their male counterparts, the degree of funding for men’s own firms was 29% in 2024.
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Average Funding Size For businesses owned by women was $ 67,035 in 2024, an increase of 25% from $ 53,678 to 2023. In comparison, men -owned businesses saw a 7% increase in average loan size, from $ 75,045 to 2023 in 80,140 dollars in 2024.
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Average business age (Per month) for businesses owned by women increased 10 months yoyfrom 62 to 2023 to 72 months (6 years) in 2024But it remains 14 months lower than men’s businesses, from 72 to 2023 to 86 (slightly over 7 years) in 2024.
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Average Credit Grade For women owners of business increased by 10 pointsfrom 643 to 2023 to 653 in 2024. Credit results to male business owners too increased 10 points, from 660 to 2023 to 670 in 2024.
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State applications Financing: California HAD Highest percentage (12.8%) of women’s business financing applications, followed by the 2023 leader, Florida (12.5%) and Texas (10%).
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Financing Applications from Industry: Services (except public administration) was the largest industry Represented by companies owned by women (14.9%) In the Biz2Credit study, followed by health care and social assistance (14.5%), retail trade (13.5%) accommodation and food services (12.1%), and professional, scientific and technical service (9.5%).
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Average annual income For businesses owned by women increased 15%, from $ 451,443 to 2023 in 519,886 dollars in 2024As men -owned businesses set up 8%from $ 688,611 to 2023 to 743,643 dollars in 2024. income gap Among businesses owned by women and men was $ 223,757 in 2024.
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Average operating costs of businesses owned by women increased 38%, from $ 363.909 to 2023 in 503,8426 dollars in 2024. Business owned by men also without a 31% increase in average operating costs.