National Women's Small Business Month: US Marks October With 15.7 Million Women-Owned Firms
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National Women's Small Business Month is under way in the US this October, with women-owned firms now at 15.7 million, according to Wells Fargo's 2026 report.
What Happened
National Women's Small Business Month is being observed in the United States in October 2026, and the observance began on 1 October. The month recognises women who start and grow businesses. Events are running across the country, from bank-led talks and local business centre programmes to workshops on federal contracting. Wells Fargo's 2026 Impact of Women-Owned Businesses report says women now own 15.7 million American businesses.
Key Facts
- These firms employ 12.6 million people and generate $2.8 trillion in revenue, according to figures cited in a 30 September 2026 community blog post.
- The same post says women-owned businesses grew 12.1% between 2022 and 2025, nearly twice the 6.3% growth recorded for men-owned businesses.
- In October 1988, President Ronald Reagan signed H.R. 5050, the Women's Business Ownership Act, which created the network of Women's Business Centers, the first women-focused programme at the US Small Business Administration (SBA).
- By 2023 the National Women's Business Council counted 14 million women-owned businesses, or 39.1% of all firms, a 13.6% rise from 2019. The Council said they add $1.8 trillion to US GDP every year.
- The SBA says the federal government's goal is to award at least 5% of contracting dollars to women-owned small businesses through the Women-Owned Small Business (WOSB) Federal Contract Program.
- The SBA funds Women's Business Centers in almost every state. They offer free or low-cost counselling and training, according to a regional bank's 6 October 2026 guide.
- The Department of Small and Local Business Development in Washington, DC, says over 47% of businesses in the district are owned by women.
Why It Matters
The scale of change in women's business ownership is large. One small-business bank notes that in 1972 women owned only 4.6% of all US businesses. Another local campaign says there were a little over 400,000 women-owned firms that year. The Wells Fargo count of 15.7 million shows how far the sector has moved in about five decades.
The month has roots in 1988. The SBA says the Women's Business Ownership Act ended state rules that, three decades earlier, could require a male relative to co-sign a woman's business loan. The law was driven by the National Association of Women's Business Owners, which organised in the 1970s. The National Women's Business Council was founded on 25 October 1988.
The figures below show how the count has grown across recent years.
Year | Women-owned firms | Source
2026 | 15.7 million | Wells Fargo report
These are private-sector estimates and differ from older government counts, which used different methods and years.
Access to money remains a stated concern. Sima Ladjevardian, Chair of the National Women's Business Council, has said the month is a time to address barriers including access to capital, federal contracting and mentorship. A 2023 US Senate resolution made the same point. Earlier studies cited by lenders say women are less likely than men to receive business credit and more likely to get smaller, shorter-term loans. A 2022 survey found women made 33% of loan applications in 2021, up from 28% in 2020. These come from third-party studies, not official 2026 statistics.
Federal contracting shows a similar gap. In 2016 the SBA noted that women-owned firms won about 5% of federal contracts, and that reaching even that level took 20 years. SBA partner events on 1 October and 8 October 2026 cover WOSB certification and how to qualify.
For Indian readers, the US data shows how consistent counting helps. Tracking ownership share, jobs, revenue and growth gives lenders and planners a clear picture of where support is needed. In the US, gaps in credit and public contracts are measured, discussed in Congress and addressed through dedicated programmes, which makes progress easier to track.
Impact
Short-term: Events continue through October 2026 across the country. They include SBA partner sessions on WOSB certification, a founder forum in Brooklyn, New York, on 5 October and a coffee meet-up on 13 October. Banks and business groups urge owners to review business plans, meet mentors and check that their banking tools still fit. They also urge customers to find and support a local women-owned business. Local small business development centres, such as the one in the Miami Valley, Ohio, are sharing resources this month.
Long-term: The month follows a pattern. Senate resolutions have recognised it in past years, and the 2026 observance continues that. The Women's Business Council anniversary falls on 25 October. Regular measurement of ownership share, jobs, revenue and growth keeps attention on the gaps in credit and federal contracts. Dedicated programmes such as Women's Business Centers and the WOSB programme give a lasting structure for support. Growth of 12.1% between 2022 and 2025 suggests women-owned firms are expanding faster than men-owned firms.
Who is affected: Women who own or plan to start businesses are the main group affected, across sectors from retail to professional services. In Dayton, Ohio, a local broadcaster featured a bridal business that opened a new location. Women considering leaving salaried jobs are advised by a Republic Bank executive that research and planning come first. Washington, DC, says Black women are the fastest-growing group of entrepreneurs in the country. Lenders, federal contracting officers and local governments are also involved. Readers who want to take part can contact a local Women's Business Center.
Key Takeaway
Women now own 15.7 million US businesses, or 40.6% of the total, according to Wells Fargo's 2026 report, even as gaps in credit and federal contracts remain.
Questions and Answers
When is National Women's Small Business Month 2026?
National Women's Small Business Month is held every October in the United States. The 2026 observance began on 1 October and recognises women who start and grow businesses, with events running across the country.
How many women-owned businesses are there in the US?
Wells Fargo's 2026 Impact of Women-Owned Businesses report says women own 15.7 million US businesses, or 40.6% of the total. These firms employ 12.6 million people and generate $2.8 trillion in revenue.
What support do Women's Business Centers offer?
Women's Business Centers, funded by the SBA in almost every state, offer free or low-cost counselling and training. The SBA says they also run programmes on winning federal contracts and getting capital.
What is the federal contracting goal for women-owned businesses?
The SBA says the federal government aims to award at least 5% of contracting dollars to women-owned small businesses. The Women-Owned Small Business Federal Contract Program lets eligible firms compete for set-aside contracts.
Disclaimer: Prepared by the Peepals newsroom from publicly available sources with AI assistance. Information is accurate to the best of our knowledge at the time of publication and may change. Images may be representative. Not professional advice. Report an error via our contact page.
Reviewed & Edited by Prashant Sonar
Reviewed & Edited by Prashant Sonar. Published by the Peepals Global Editorial Team.
