Women Business Owners - Decades of ProgressAirmatic Inc

Introduction• A woman-owned business in a market segment traditionally

dominated by male leadership, 72-year-old Airmatic, Inc. continues to be a success story. The Malvern, Pennsylvania, company sells, installs, and assists in maintaining a variety of industrial products, including foundry shakeout vibrators, and automatic lubricators for machinery and conveyor systems. Airmatic, Inc. is one of a growing number of female-led companies throughout the United States.

According to the National Association of Women Business Owners, well over 9 million companies in the country are owned by women. These enterprises contribute more than $1 trillion annually to the American economy and employ approximately 8 million people. In fact, almost one-third of all companies in private hands – and one-fifth of those with revenues at or exceeding $1 million – are woman-owned.

Women Business Owners• Most female-owned companies are found in sectors such

as healthcare, retail, and services.

Another sign of progress, women of color hold majority ownership in about 3 million US businesses, and these companies produce more than $200 billion in yearly revenue. In 1997, only about 1 million companies were owned by women of color, making the growing diversity among women business owners a significant reflection of corporate America in the 21st century. Over the past two decades, the country has seen, on average, more than 600 new woman-owned firms open for business every day.