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November 28, 2017

Maine's female entrepreneurs best in nation for jobs and revenue growth

Photo / Tim Greenway
Photo / Tim Greenway
Many women-owned firms in Maine begin as home-based businesses, often founded out of necessity, says Nancy Strojny, Portland chapter chairwoman of SCORE and a 2017 Mainebiz Women to Watch honoree.

Over the course of the past 20 years, Maine's female entrepreneur sector has become a national leader for job and revenue growth.

The Portland Press Herald reported on the seventh annual State of Women-Owned Businesses Report commissioned by the financial services firm American Express. From 1997 to 2017, Maine ranked No. 1 among the 50 states and the District of Columbia for revenue growth among women-owned businesses, and No. 2 for job growth, according to the report.

Maine has an estimated 45,600 women-owned businesses that employ 49,900 workers and generate roughly $13 billion in annual sales.

Many women-owned firms in Maine begin as home-based businesses, often founded out of necessity, Nancy Strojny, Portland chapter chairwoman of SCORE and a 2017 Mainebiz Women to Watch honoree, told the newspaper. Some of those have gone on to employ dozens, even hundreds, and generate millions of dollars in revenue.

American Express research adviser Geri Stengel told the paper that job growth has been more concentrated among traditional businesses such as those in the retail, services and hospitality industries, which are more prevalent in states such as Maine.

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