Launching a business is an enormous accomplishment. After this initial leap, business owners achieve many more milestones on their journey– each a mark of incredible courage and perseverance.
Business Growth to Build Wealth
Visible milestones – opening a storefront or hiring an employee – are often indicators of other important achievements. Hitting hidden milestones like business revenue growth is critical to business owners’ ability to build financial security and real wealth.
Of women-owned businesses
Generate $250k or more in annual revenue.
These businesses make up
Of total employment for women-owned businesses.
And they generate
Of total women-owned business revenues.
Source: 2018 State of Women-Owned Businesses Report.
The $250,000 Threshold
“Growth in both employment and revenues begins to take off for women-owned businesses when they reach $250,000 in revenues,” according to the 2018 SOWB Report. At this stage, a business not only promotes the financial well-being of the owner but begins to realize benefits of scale.
How Businesses Get There
Reaching $250k or more in annual revenue requires hard work and incredible dedication. Clear business strategy, understanding of marketing and finances, and strong community empower business owners to get there faster and WEV is here to help.
Businesses generating over $1 million in annual revenue are the vast minority – making up less than 2% of women-owned businesses in the U.S. – yet they account for a majority of total job creation and revenue. These economic powerhouses generate wealth for their owners and return great dividends to the broader economy.
Celebrating Million Dollar Milestone Members
WEV congratulates all clients whose businesses have earned over $1 million in annual revenue in at least one year of operation.
Animal & Insect Pest Management Inc.
Aqua Skin and Nail Care*
Children’s Therapy Network
Grapes & Hops*
New Dawn Counseling and Consulting
Projects General Construction, Inc.
Santa Barbara Axxess
Sun Pacific Solar Electric, Inc.
Sunrise BGO Carriers Inc.
The Closet Trading Company
Some businesses highlighted above had already achieved this milestone when their owners came to WEV for support to grow, while others reached the million-dollar mark after coming to WEV.
*indicates a business no longer operated by a WEV client.
Have you reached the Million Dollar Milestone in your business?
Let us know so we can celebrate your business here.