Women-owned businesses in the specialty trade contractors sector grew by 18 percent in 2024, compared to 6.4 percent growth for male-owned firms in the same sector, according to data from the Census Bureau's Annual Business Survey.
The specialty trade contractors category, which encompasses water damage restoration, fire and smoke restoration, mold remediation, and structural drying, saw women-owned firm revenue grow from $4.1 billion to $4.8 billion over the same period.
Industry analysts attribute the growth to several converging factors: increased insurance industry demand for certified remediation contractors, the expansion of IICRC training programs in community college systems, and a post-pandemic surge in residential water damage claims that created new market opportunities for smaller, specialized firms.
"Women entrepreneurs in this space are building serious businesses," said Small Business Administration Regional Administrator Carmen Castillo. "The restoration industry has lower startup capital requirements than general contracting, a clear certification pathway, and strong recurring revenue from insurance relationships — that's an attractive combination."
