The future is female. And it’s about time.

The 2019 State of Women-Owned Businesses Report, commissioned by American Express, shows that women-owned businesses represent 42% of all businesses, generate $1.9 trillion in revenue, and employ 9.4 million workers.

More women are waking up to the fact they no longer wish to have their livelihood in the hands of big corporations who often are inflexible to their needs. They are setting out to begin a journey towards independence and self-direction that shows their resiliency, determination, and innovation.

Here are 5 statistics that further explore how women are shaping the economy and the future of business.

1. 36% of all small business owners are women.

In 1997, that number was 26%, and in 2015, that number was 29%. And now women own more than one-third of all small businesses. Should this number be higher? Of course. But there is reason to celebrate because the numbers show this trend will continue to grow.

And it’s no wonder women choose to own a business. Being their own boss allows women to create and build a career that works around their needs, reflects their values, and provides flexibility.

I became a work-from-home mom because I wanted the ability to care for my daughter and provide an income for my family without having to fight for the flexibility I needed.

Being a business owner gives a woman freedom she may not be able to find in a traditional position. It gives her the independence to be the type of boss lady she didn’t see in her 9-to-5.

2. In the last 5 years, the number of women-owned businesses increased by 21%, while all businesses increased only 9%.

Women are building and creating at a faster rate than the rest of the business-owning world. At a rate of more than 2 times higher than business building overall, women continue to find opportunities.

And this isn’t surprising. The opportunities for growth in a traditional business can be limited, slow, or closed to women, especially if they choose to have a family. To find growth or fulfill a deeper need, women seek out new avenues that advance their goals and feed their souls.

Often we look at climbing the ladder in a corporate setting as the best way to build our careers. But it’s not the only way. Creating a business allows a woman to build a position and environment she couldn’t find in the corporate world.

3. Women of color started 70% of new companies in the U.S.

Companies owned by women of color have grown an astonishing 43% in the last five years. And companies owned by African American women grew even faster at more than 50%.

In light of the racial challenges we are having in our country, this growth is important. Women as a group are marginalized, but women of color are even more so.

And these numbers show how women of color are inventive and won’t be stopped by socially constructed limitations.

“Women have been taking control, frankly, for centuries,” says Kathy McShane of the U.S. Small Business Administration’s Office of Women’s Business Ownership. “But now we’re talking about it.”

4. Nearly half of female business owners are between 45 and 65 years old.

Often we tell the story of the young 20-something who built an empire by their 30s. We don’t frequently celebrate stories of women finding a new path, a new career, a new anything after the age of 40.

But women are no longer allowing society to determine what their life path looks like and are deciding to reinvent themselves at all ages.

Who says dream building only happens when you’re young?

I left my teaching job at the age of 35 and became an entrepreneur so I could build a career that fit the needs of my family. And my small business has allowed me to grow and change that career as my family’s needs have changed.

5. Businesses founded by women earn twice as much money as those founded by men.

When you factor in that most women use their business as their sole source of income, it’s not surprising women-owned businesses are a safer bet for investors. For every dollar spent, women-founded startups generate 78 cents versus the 31 cents male-founded startups generate. Great news, right?

Yes and no. Overall, women have less access to venture capital, and when they do receive it, they receive less than men. Even though women are a safer investment, investors aren’t investing.

But here’s the positive. Whether it’s an investor, a relative loaning her money, or her own savings, a woman-founded business will have a greater return on that investment. Women know how to put in the sweat equity to make a business grow because they are adaptable and their livelihood rides on its success.

Women-built brands are leading the way for a future shaped by their needs and values.

But is it all roses? No. Women need better access to venture capital and credit. We still have a way to go, but the future of women in business is brighter every day.

Do you run your own business or are thinking of starting one? Drop me your thoughts about these statistics in the comments below.

And if you need ideas about business building, check out this blog post about 6 satisfying reasons why you should consider becoming an online entrepreneur.

5 Amazing Statistics About Women in Business

5 Amazing Statistics about Women in Business