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Women-owned businesses bring $33 billion to Washington's economy

The 2019 State of Women-Owned Businesses Report says there's only been a 10 percent increase in women-owned businesses since 2014.

REDMOND, Wash. — When launching a business, Margo Engberg, the founder and CEO of PinkaBella Cupcakes, says to follow your passion.

“When you’re passionate about something, you succeed,” said Engberg.

A decade after opening her flagship store in Redmond, Engberg’s cupcake shop has six locations, which sell thousands of cupcakes every week. 

“One thing I’m proud of about being a woman business owner, is showing my three daughters that a woman can own a company and be successful,” she said. 

The 2019 State of Women-Owned Businesses Report says women like Engberg are driving America's economy. The report says 42 percent of businesses in the United States are owned by women and they generate more than $1.9 trillion in revenue.

"This report really demonstrates there a ton of woman who have a lot to offer the economy,” said Rohre Titcomb, the Vice President of Operations for the Female Founders Alliance, a Seattle-based group helping women launch companies.

The report says in Washington, there an estimated 215,185 women-owned businesses. The businesses generate roughly $33.6 billion in annual revenue. The study says, out of all 50 states, Washington ranks 19th in growth for the number of women-owned businesses.

“I think there is always work to be done. One of the values we have here at [the Female Founders Alliance] is there’s always work to be done and no one is perfect,” said Titcomb.

Titcomb said don't forget, women are still achieving success in Washington by finding jobs at already established companies.

“There’s an increased focus in attaining and retaining top talent who are women,” said Titcomb.

Both women said the study is proof there’s a network of women looking to see their peers succeed.

“When you empower a woman, we change the world. We’re world changers,” said Engberg.

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