MSMU RSWG 2023 final - Flipbook - Page 18
Note: These figures are
based on the 2016 Survey
of Consumer Finances and
do not include the value of
vehicles. “Other” includes
Asians, American Indian/
Alaskan Native, Native
Hawaiian/Pacific Islanders
and any other racial
groups not accounted for
as White, African American
(Black), or Latinx.
Source: Asset Funders
Network
FIGURE 6
ESTIMATED MEDIAN WEALTH OF U.S. SINGLE WOMEN (2016)
MEN
WOMEN
$83,440
WHITE
AFRICAN
AMERICAN
LATINA
$9,100
$6,000
$12,070
OTHER
$66,930
$6,700
$22,600
$44,650
Women-owned businesses
One area of entrepreneurship where women excel is the creation of small businesses.40 California
is home to the largest number (1,543,000) of women-owned businesses nationwide.41 Women own
roughly 20% of the 742,000 privately owned businesses with paid employees in the state of California.
And women co-own another 16% of private businesses with a male business partner.42
Generally, women-owned businesses are smaller than the average U.S. business in terms of
employment and revenue.43 However, businesses owned by women are showing a higher rate of growth
in numbers of firms, employment, and revenue compared with the U.S. average. In 2021, half (49%) of
new business startups in the U.S. were led by women entrepreneurs.44
18 THE REPORT ON THE STATUS OF WOMEN AND GIRLS IN CALIFORNIA | 2023
