California has emerged as the national leader in women-owned businesses, with 1.5 million companies led by women entrepreneurs, according to a new research brief from the University of Southern California.
The study, presented at the CalChamber Women's Leadership Council forum in Sacramento, reveals that women-owned enterprises now represent nearly 40% of all businesses in California. These companies generated an impressive $580 billion in revenue between 2019-2023, highlighting their substantial economic impact.
"The impact of women on California's economy is undeniable," said Jennifer Barrera, president and CEO of CalChamber. "When people talk about business in California, the face of business also includes a large number of successful women."
The research presentation by Katherine Aguilar Perez of USC sparked discussions among prominent business leaders and government officials about advancing women's roles in corporate leadership. Notable participants included Dee Dee Myers, Senior Advisor to the Governor, and Maryam Brown, CEO of SoCalGas.
To maintain this positive trajectory, experts recommend:
- Reducing barriers to women's business ownership
- Improving access to capital and financing options
- Expanding networking and contracting opportunities
- Continuing research on women's business needs
The CalChamber Women's Leadership Council, chaired by Donna L. Lucas and co-chaired by Raji K. Brar, works to strengthen the presence of women business leaders across California's industries and foster connections with key government decision-makers.
This milestone achievement reflects California's progressive business environment and highlights the growing influence of women entrepreneurs in shaping the state's economic landscape.