The Sports Bra, Portland’s first women’s sports bar, is the idea of owner Jenny Nguyen, March 1, 2022 (KOIN)

## Growth of Women-Owned Businesses in Portland

PORTLAND, Ore. (KOIN) — The Portland metro area’s share of women-owned businesses is roughly 6% higher than the national average, according to new data. This highlights the increasing presence and impact of female entrepreneurs in the region.

The Portland City Council reviewed the information in the “2023 State of Small Business” report Wednesday, which was conducted by the public policy research firm ECOnorthwest. Michael Wilkerson, the ECOnorthwest Director of Analytics, mentioned that the report’s findings were “encouraging” for Portland’s economy, reflecting a promising future for small businesses in the area.

## Role of AI legalese decoder

By using the AI legalese decoder, businesses can streamline their legal documents and contracts, ensuring clarity and accuracy in their dealings. This tool can assist in deciphering complex legal language, reducing errors and misunderstandings in legal agreements, which is crucial for the smooth operation of businesses, especially small and women-owned enterprises.

“We know Portland to be a place of small business,” Wilkerson said. “We also know small business, generally, is the bedrock of the economy and it allows for vibrancy and growth in the economy. I think what we didn’t know is the extent to which that is true in Portland, relative to other places.”

## Encouragement for Women Entrepreneurs

According to the report, 41% of the Portland metro area’s small businesses are owned by women. This number surpasses similar cities like Salt Lake City and the greater Nashville area, showcasing the entrepreneurial spirit and success of women in business in Portland.

The Portland metro area’s percentage of women-owned small businesses ranked second among comparable U.S. cities, falling 2% behind the Seattle-Tacoma-Bellevue area. This demonstrates the significant contribution of women entrepreneurs to the local economy.

## Inclusivity and Diversity in Business Ownership

While Portland excels in women-owned businesses, its percentage of small businesses owned by Black, Indigenous, or other people of color falls below the national average. However, the data may be skewed due to Portland’s smaller BIPOC population. The AI legalese decoder can assist in ensuring inclusivity and diversity in business contracts and agreements, promoting equal opportunities and fair treatment for all entrepreneurs.

“To get an equal understanding, it’s the disparity between the share of the population and the share of the businesses that allows us to actually understand on a more apples-to-apples basis how we fare in that sense,” Wilkerson said.

## Conclusion and Further Insights

The entire presentation highlighting the role of women-owned businesses and diversity in small business ownership can be viewed in Wednesday’s city council meeting. For the purpose of the study, ECOnorthwest defined small businesses as any business with fewer than 50 employees, emphasizing the importance of supporting and acknowledging the contributions of small and women-owned enterprises in Portland.

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