Women Business Owners Forecast Long-Term Growth, Won’t Abandon Ship Despite Stormy Economy
PNC Women Business Owners Outlook findings are very interesting -“- The long-term view among U.S. women business owners is positive as eight out of 10 foresee growth over the next two years compared to 7 percent who want to sell, a sign that rising costs and economic uncertainty will not deter one of the fastest growing segments of the nation’s small business sector.”
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- Try this: More than half (56 percent) of women business owners rely on trying new ways of doing things to make business decisions, compared to 44 percent who prefer to stick with what has worked in the past. Similarly, six out of 10 (62 percent) prefer to rely on their own ideas as opposed to others’.
- Analyze this: When making decisions, they are split between analysis and intuition. Fifty-five percent say they opt to analyze the situation while 45 percent go with their own intuitions.
- Who’s online? Views are mixed regarding social media, with only half (51 percent) of the respondents currently utilizing interactive online channels to promote their businesses. Facebook and related social networking sites are most popular (40 percent), followed by LinkedIn and related business networking sites (27 percent) then Twitter (13 percent).
- It’s not about the money: Nearly half (45 percent) listed “passion for their business” as one of the top reasons they stay in business. Only 22 percent cite “financial success” as a primary motivator.
- Advice at home: When looking for professional advice, women owners consult their spouses most often (49 percent). Professional advisors (40 percent) and peers (30 percent) are also seen as valuable sources of information.
- Who you know: Nearly seven out of 10 (68 percent) are affiliated with at least one industry group or business organization. Chambers of commerce and national industry groups are the most popular.
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