For example, in 2007, businesses that were majority-owned by women accounted for only 11% of sales among privately held companies in the United States (US Department of Commerce, 2010). There is no definite answer to this question in the literature. While most studies find that female-controlled enterprises fare worse in terms of profits and other performance measures (Robb and Watson, 2010), several analysts argue that these differences vanish once sectors of activities and key characteristics of the business owners other than gender are controlled for (Fairlie and Robb, 2009, Gatewood et al., They are particularly under-represented among companies with the largest numbers of employees. Firms with mixed ownership are excluded from the total. The sample is restricted to enterprises where individuals hold at least 50% of the company’s shares.