U.S. Census Bureau reports women-owned businesses are on the rise

U.S. Census Bureau reports women-owned businesses are on the rise

MANKATO, Minn. (KEYC) - According to the U.S. Census Bureau, women-owned businesses in America are on the rise and as Women’s History Month nears its end, the data demonstrates their contribution to the economy.

The latest data from the U.S. Census Bureau survey reports that in 2018 women owned firms ranked in nearly $1.8 trillion in sales, shipments and revenue. Employing over 10 million workers with an annual payroll of $388.1 billion. Those statistics continue to grow today.

Locally, there are several woman owned businesses.

In 2019 Deb Newman became the fifth-ever owner of Hilltop Florist in Mankato. A shop first established back in 1880.

“We always wanted to own our own business. When we saw that Hilltop Florist was looking to sell we immediately thought that it was the right fit,” said Newman. “It was really important for us to make sure that we were continuing the legacy both for service and care”.

When the pandemic hit, Newman quickly had to adjust services, offering at home kits and flower deliveries.

“I think the key to running a successful businesses is obviously understanding your numbers. Make sure you are running a profitable business. The pandemic has certainly shifted our business and caused us to look at where we spend money and how we spend it. But I would say for us I think providing that quality service is first and foremost...our customers are our priority,” explained Newman.

A straight shot down Madison Avenue, from Hilltop Florist, is Graif Clothing.

Graif Clothing also has deep roots within the community, present in Mankato since 1924.

Owner Marrissa Brostrom also always wanted to run her own store. In 2019, like Newman, she became the fifth ever owner of the business. Obtaining ownership right before the pandemic as well, she too found ways to adjust her business in order to continue to grow.

“I think if anything it has actually helped us grow with how we reach our customers. We have tried a ton of different things, social media wise and our region and expansion in that direction has grown tremendously, “said Brostrom.

Growth is exactly what’s in store Graif Clothing, as its second location is set to open in Owatonna Monday, April 5.

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