According to a study, the success of women-owned businesses such as DSFederal reflects a growing national trend. According to an American Express report, "The State of Women-Owned Businesses," the number of women-owned businesses grew by 59% from 1997 to 2013, adding 175,000 jobs to the U.S. economy since the recession. These businesses generated $1.3 trillion in revenue in 2012, and employ 7.8 million people.
Privately owned, women-owned businesses have fortified the private sector since the recession began in 2007 – the year of DSFederal’s inception – and are the “unsung heroines” of the small business sector, the report stated.
Geographically, the study found that New York, Los Angeles, Chicago, Miami, and Washington, D.C. have the highest concentrations of women-owned businesses. The greatest number of these firms was found in the health care and social assistance fields.
The number of minority women-owned businesses also rose dramatically, from 929,445 firms in 1997 to 2,667,700 in 2013 – an impressive 31% of all women-owned businesses.
Thanks to Sophia Parker’s dream, DSFederal now has the opportunity to contribute to the growing presence of minorities and women in the workplace by providing them opportunities to chase and fulfill their dreams.