It’s incredible that women have only had the right to vote since 1920. Women have made enormous achievements in various areas over the last 100 years, ever since they were granted the right to vote. This is due in large part to the trailblazing women who broke down glass ceilings in all industries, including finance, and made things more egalitarian between the sexes.
They still have a long way to go, though, because the gender wage disparity remains in the workplace. According to a recent Pew Research Center examination of median hourly earnings of both full-time and part-time workers, women earned 82% of what men earned in 2022.
This type of help has recently had a considerable impact. Women are playing an increasingly important role in the entrepreneurial environment in the United States, where small businesses are a crucial engine of economic growth. According to a recent Census Bureau research, women-owned firms in the United States account for around 10 million jobs and $1.9 trillion in yearly sales. Furthermore, there are nearly 13 million women-owned businesses in the United States as of 2019. The number of firms owned by women of color increased by 43% between 2014 and 2019, according to the State of Women-Owned firms Report.
However, given that women run some of the world’s smallest and most vulnerable businesses, the COVID-19 pandemic has had a disproportionately harmful impact on women-owned and operated firms. According to the National Women’s Business Council 2022 report, 38.3% of women-owned firms reported a significant decline in sales during the epidemic. In comparison, men-owned enterprises accounted for 31.3% of the total.
Three industries typically account for more than half of all women-owned firms. Healthcare and social support, professional/scientific/technical services, and other services such as salons and pet care enterprises are examples of these. Despite having the most female-owned firms, these industries do not have the highest income levels.
In the United States, the distribution of women-owned enterprises is also unequal. Hawaii has the highest percentage of women-owned businesses at 24.7%, followed by Virginia and Colorado, which have 23.8% and 22.2%, respectively. Several of the states with the lowest proportion of female-owned firms, on the other hand, are located in the central United States.
The Potential of Women-Owned Businesses
According to a 2018 Boston Consulting Group survey of more than 350 companies, businesses founded by women made more money than those started by men. According to the report, male-led firms earned only 31 cents for every dollar invested, whereas female-led startups earned 78 cents.
This finding is consistent with the findings of several previous research. For example, according to statistics acquired by First Round Capital, companies with female founders outperformed those with all-male founding teams by 63%. According to Ewing Marion Kauffman Foundation research, women-led teams enjoy a 35% higher return on investment than all-male teams.
While American companies like PepsiCo, Inc. (NASDAQ:PEP), Colgate-Palmolive Company (NYSE:CL), and Amazon.com, Inc. (NASDAQ:AMZN) continue to draw investors’ attention, it may be a good idea for investors to diversify into women-owned companies like Campbell Soup Company (NYSE:CPB), Dolby Laboratories, Inc. (NYSE:DLB), and J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT). As a result, we’ve developed a list of the top 20 women-owned businesses in the United States.
Women-Owned Companies in the US
1. Koch Industries
Total Company Revenue in 2022 (in billions): $125
Koch Industries is a diversified holding company based in Wichita, Kansas. Renewable fuels, polymers and textiles, minerals, fertilizers, ranches, and consumer goods are its core business sectors.
It operates in over 70 countries and employs over 120,000 people worldwide.
David Koch died in August 2019 at the age of 79, leaving a 42% share in Koch Industries to Julia Koch and her three children.
2. Enterprise Products Partners L.P. (NYSE:EPD)
Total Company Revenue in 2022 (in billions): $58.2
Enterprise Products Partners L.P. (NYSE:EPD) provides midstream energy services to North American producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It employs 7000 people.
Randa Duncan Williams is the non-executive chairperson of the pipeline conglomerate formed by her father, Dan Duncan, in 1968. In 1994, Williams began working with the company. She became CEO and president of Enterprise Products Partners L.P. (NYSE:EPD) in 2001.
3. J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)
Total Company Revenue in 2022 (in billions): $14.8
J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) is a logistics company formed in 1961 in Arkansas by Johnnie Bryan Hunt and Johnelle Hunt. Its operating segments include intermodal (JBI), dedicated contract services (DCS), integrated capacity solutions (ICS), and truckload (JBT). The company’s fleet consists of around 145,000 trailers and containers.
Johnelle Hunt is the largest shareholder of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT), with a 17% interest.
4. ABC Supply
Total Company Revenue in 2022 (in billions): $14.7
ABC Supply is a private American roofing supply company situated in Beloit, Wisconsin. The company sells roofing, siding, windows, doors, gutters, and related accessories to builders and contractors.
Forbes ranked the organization a Best Employer for New Grads in 2021.
Diane Hendricks and her late husband, Ken, founded ABC Supply in 1982. She took over after he died in 2007.
5. SHI International
Total Company Revenue in 2022 (in billions): $12.3
SHI International is a privately held provider of IT infrastructure, end-user computing, cybersecurity, and IT optimization products and services with over 5,000 workers globally.
AT&T Inc. (NYSE:T), Johnson & Johnson (NYSE:JNJ), and The Boeing Company (NYSE:BA) are among the company’s over 15,000 customers.
Thai Lee is SHI International’s co-owner, CEO, and president.
6. Fidelity Investments
Total Company Revenue in 2022 (in billions): $11.6 billion
Fidelity Investments, an American international financial services firm, serves over 40 million people with financial products and services.
Abigail Johnson, Fidelity Investments’ chairman since 2016, owns an estimated 24.5% of the company. In 2018, the firm established a platform that allows institutional investors to trade bitcoin and ether under her leadership.
Fidelity Investments, along with PepsiCo, Inc. (NASDAQ:PEP), Colgate-Palmolive Company (NYSE:CL), and Amazon.com, Inc. (NASDAQ:AMZN), is one of the top firms to consider for a well-balanced portfolio.
7. Campbell Soup Company (NYSE:CPB)
Total Company Revenue in 2022 (in billions): $8.3 billion
Campbell Soup Company (NYSE:CPB) is an American processed food and snack company headquartered in Camden, New Jersey. Campbell’s product portfolio includes food brands such as Pepperidge Farm, Goldfish, V8, Bolt House Farms, Snyder’s of Hanover, Swanson Broths, Prego, and Pace.
Mary Alice Dorrance Malone is the company’s largest shareholder and a board member.
In 2022, the company’s total revenue (in billions) will be $6.1 billion.
Uline, headquartered in Pleasant Prairie, Wisconsin, is a privately held American firm that provides shipping, packing, and industrial supplies. In order to better serve clients, product categories have expanded to include retail, safety, material handling, industrial, and packaging goods. The corporation has distribution centers in the United States, Canada, and Mexico. It now employs 8,500 people.
Elizabeth Uihlein, who co-founded the company with her husband Richard in 1980, currently serves as president and CEO.
9. The Wonderful Company
Total Company Revenue in 2022 (in billions): $5.0
The Wonderful firm, formerly known as Roll Global, is a US agriculture firm. Fruits, nuts, flowers, water, wines, and juices are all available from the company.
Wonderful Seedless Lemons, POM Wonderful, FIJI Water, Wonderful Pistachios and Wonderful Almonds, Wonderful Halos, JUSTIN Vineyards and Winery, JNSQ wines, and Teleflora are among its well-known products.
Lynda Resnick and her husband Stewart own the company, which employs around 10,000 people.
10. Panda Restaurant Group
Total Company Revenue in 2022 (in billions): $4.5 billion
Panda Restaurant Group owns and runs restaurants in approximately 2,200 locations. It provides quick service Chinese food in congested areas such as shopping malls, airports, and sporting events. Andrew and Peggy Cherng, who co-founded the Panda Restaurant Group in 1973, currently control and operate it.
11. Las Vegas Sands Corp. (NYSE:LVS)
Total Company Revenue in 2022 (in billions): $4.2
Las Vegas Sands Corp. (NYSE:LVS) is an American casino and resort business located in Las Vegas, Nevada. It owns and runs premium resorts in Macau, Singapore, and Las Vegas, among other places.
Miriam Adelson, the widow of Sheldon Adelson, the company’s longtime chairman and CEO who died in January 2021 at the age of 87, now owns more than half of the gambling business.
12. Epic Systems
Total Company Revenue in 2022 (in billions): $3.8
Epic Systems is a privately held American healthcare software firm created in 1979 by computer programmer Judy Faulkner, who is currently its CEO. According to the corporation, its technology is used by 190 million people globally.
According to Forbes, at least 40% of Americans have medical records stored on the company’s electronic health record (EHR).
13. Sierra Nevada Corporation
Total Company Revenue in 2022 (in billions): $2.0
Sierra Nevada Corporation, based in Nevada, is a world-class prime systems integrator and electronic systems supplier noted for its quick, inventive, and agile technological solutions. Eren Ozmen is the chairperson, president, and principal owner of this private aerospace and defense corporation.
14. Dolby Laboratories, Inc. (NYSE:DLB)
Total Company Revenue in 2022 (in billions): $1.2
Dolby Laboratories, Inc. (NYSE:DLB), based in San Francisco, specializes in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range (HDR) imaging.
Dagmar Dolby controls around 36% of the corporation formed by her late husband Ray Dolby in 1965.
15. Little Caesars
Total Company Revenue in 2021 (in billions): $1.1
Little Caesars is an American worldwide pizza brand located in Detroit, Michigan. The brand uses high-quality ingredients, such as a combination of fresh mozzarella and Muenster cheese.
Marian Ilitch and her husband, Mike, who died in 2017, cofounded the business in 1959. She currently owns the pizza company, which has yearly revenues of more than $4.5 billion.
16. Larry H. Miller Company
Total Company Revenue (in Billions) in 2021: $0.8
Larry H. Miller Company is a privately held firm located in Sandy, Utah, with operations mostly in the western United States. Real estate, healthcare, entertainment, sports, finance, long-term strategy and investments, and charity are the major areas of focus for the portfolio of enterprises and assets.
Following the death of her husband, Larry H. Miller, Karen Gail Miller took over as chairwoman and owner of Larry H. Miller Company in 2009.
17. Johnson Outdoors Inc. (NASDAQ:JOUT)
Total Company Revenue in 2022 (in billions): $0.7
Johnson Outdoors Inc. (NASDAQ:JOUT), founded in 1970, manufactures watercraft, diving equipment, camping gear, and outdoor clothes. It employs over 1,400 people and operates in 24 countries.
In 1999, Helen Johnson-Leipold, an heir to the family-owned S. C. Johnson & Son, was appointed chairperson and CEO of Johnson Outdoors Inc. (NASDAQ:JOUT).
18. San Francisco 49ers
Total Company Revenue in 2022 (in billions): $0.6
The San Francisco 49ers are a professional American football team headquartered in Santa Clara, California that plays in the National Football League (NFL). The San Francisco 49ers won five Super Bowls between 1981 and 1994.
The team’s owner and co-chair is Marie Denise DeBartolo York, daughter of late construction billionaire Edward J. DeBartolo Sr.
19. Houston Texans
Total Company Revenue in 2022 (in billions): $0.6
The Houston Texans are a professional American football club headquartered in Houston that competes in the National Football League (NFL). They were created in 1999. Janice Suber McNair is the team’s co-founder and current owner.
20. In-N-Out Burger
Total Company Revenue in 2021 (in billions): $0.6
In-N-Out Burger is a fast-food restaurant chain in California and Nevada with over 120 locations. In addition to California, the corporation now has operations in Arizona, Nevada, Utah, Texas, Oregon, and Colorado. It also intends to grow into Tennessee and Idaho. It now employs 27,000 people.
Lynsi Snyder is the current owner of In-N-Out Burger.