But it isn't all bad news, as the amount of people employed by women owned firms has grown by 6%, and trends are encouraging.
"Women business owners have continued to grow at a rate faster than male business owners in Maine and nationally," says James McConnon, a UMaine economics professor, "I think that's good to see."
Whether you want to open a workout studio, or a shoe store, business owners are supporting other women.
"Don't let anyone stop you from doing it. They'll say 'Oh you're too busy' You can't have it all type of thing. I think that's weird common arguments women hear," says Summer Allen.
Amy Badger adds, "If you think a woman can't do it, you should go where a woman does do it, because I think you'll be proven wrong."
Nationwide, businesses owned by women have accounted for over $1 trillion in revenue.