Businesses owned by women increase in Kansas

The number of businesses owned by women in Kansas is rising, though not as fast as the national average, according to a new report.

The report, commissioned by American Express and released this week, said the number of firms owned by women in the state increased by 22 percent from 2007 to 2016 while the national number was 45 percent.

The 22-percent growth rate for Kansas ranked it 46th among U.S. states. Nationally, the growth rate for businesses owned by women over the past nine years is about five times the rate for all businesses.

About 79,500 firms in Kansas are owned by women, according to the report, which analyzed Census Bureau data. The businesses owned by women in Kansas employ close to 75,000 people, the report showed.

From 2007 to 2016, Kansas businesses owned by women outpaced the national average in terms of revenue growth, coming in seventh among U.S. states with a growth rate of nearly 55 percent, according to the report.

In 2007, firms owned by women in Kansas brought in about $9.2 million in sales while the latest available number grew to $14.3 million.

The full report can be found at http://about.americanexpress.com/news/pr/2016/2016-state-of-women-owned-business.aspx.

This story was originally published April 7, 2016 at 1:35 PM with the headline "Businesses owned by women increase in Kansas."