Companies owned by women are soaring in the Pelican State.
And the growth of women-owned companies in Louisiana is a reflection on what is occurring on a nation-wide scale.
According to Biz2Credit.com’s second annual report of 10,000 small businesses that applied for funding in 2013, the average earnings of companies that were owned by females climbed to 54 percent.
In Louisiana, 34 percent of the companies that applied for funding were owned by females, and they are also on a quick path when applying for loans. The study said that the average time period for a women-owned company to apply is 24 months, compared to male-owned firms in the state (34 months).
The Biz2Credit.com report also announced that the average credit score for women-owned companies is at 600, while men-owned companies have a figure of 620.
Louisiana females who own companies do have to catch up with their male peers. In the report, men-owned companies in the southern state have an average revenue total of $121,588, while their female counterparts bring in an average of $88,712.
To read the full report, visit http://www.biz2credit.com/research-reports/analysis-of-women-owned-companies-2014.