National Association Of Women Business Owners Releases Annual Survey Results
Over the past decade there’s been a significant rise in women business owners. More and more women are branching out and starting their own businesses. These could be single shingle lawyers, accountants and doctors offices, real estate practices, even startups. This is a great trend across the country.
Last week the National Association of Women Business Owners released their annual membership survey results. Most of the results of the survey are great news for industry, business, startups and the economy. The survey revealed that 32% of women plan on hiring more employees in the year ahead. At the same time, 32% also said they had never given themselves a raise.
35% said that they work between 40-49 hours per week.
Women are also relying more on revenue and profits over financing options. Last year only 21% of the women surveyed said they pursued finance avenues for their business in the last year. That number shrunk to 19% who said they may pursue financing options in the year ahead.
“Women business owners are one of the fastest growing segments of our economy, a trend that is likely to continue, especially if we provide the tools and resources for more women to start and grow their businesses,” said Teresa Meares, NAWBO National Board Chair. “As our survey reveals, women business owners put so much of themselves and their resources into their business. They could accomplish even more with additional loan and financing programs. That is why we continue to advocate for the modernization and expansion of programs within the Small Business Administration to do just that. We are proud to work with SBA toward achieving that shared goal.”
“Women business owners are a rapidly growing force in the American entrepreneurship story – we are so privileged that NAWBO invited NADCO to collaborate with them on this survey so that we can better understand and serve women entrepreneurs seeking access to capital for fixed assets in the future,” said NADCO President and CEO Barbara A. Vohryzek.
The results are summarized in the infographic below: