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May 5, 2022 | 3-minute read (590 words)
Sales declined and costs increased in 2021 for many female-owned enterprises, according to the findings of a Biz2Credit Women-Owned Business Study conducted in 2022.
The repercussions of the COVID-19 pandemic in 2021 were also more severe for female-owned businesses, many of which have historically been less well-funded than male-owned businesses, the study also found.
| Metric | Female-owned businesses | Male-owned businesses |
| Women-to-men borrowing ratio | 33% | 67% |
| Average annual revenue | $475,707 | $675,643 |
| Average credit score | 580 | 594 |
| Average loan size | $49,712 | $83,198 |
| Average age of business | 4 years (45 months) | 4 years (48 months) |
| Sector | Female loan applicants |
| Services | 31.9% |
| Retail | 15.07% |
| Accommodation & food services | 9.07% |
| Health care & social assistance | 7.41% |
| Transportation & warehousing | 5.44% |
| Arts, entertainment & recreation | 4.66% |
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