Somewhere out there are hundreds of thousands of women who should be millionaires. You can find them in rented executive suites and home offices — women who started down the road to riches, but who got lost along the way.
It is a well-known and oft-quoted fact that women are starting businesses in the United States at twice the rate of men. The result, according to the Center for Women’s Business Research, is 10.4 million businesses owned by women nationwide.
That these businesses aren’t doing all that well is far less talked about. About 43 percent of all businesses owned by women have revenue of $10,000 or less. Over 70 percent have revenue of less than $50,000. And only 3 percent have revenue exceeding $1 million, according to the Women Presidents’ Organization, a nonprofit group for women whose businesses take in $1 million or more. (By contrast, men clear $1 million at more than twice that rate, or about 7 percent.)
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