I just found out that October is Women’s Small Business Month.  A new study shows that small businesses run by women are growing the economy.

The benchmark study, The Economic Impact of Women-Owned Businesses in the United States, showed that women-owned companies generate some $3 trillion in revenue and employ 23 million Americans–nearly double the number of people employed by the 50 biggest U.S. companies.

“Women-owned firms employ or generate a total of 16 percent of the jobs in our nation’s economy,” said Gwen Martin, executive director and director of research for the Center for Women’s Business Research.

Women-owned businesses were defined as privately held companies with at least 50 percent ownership held by women.

Read more about the study on Small Biz Daily.