Did you know that as of 2008, 10.1 million firms were owned by women (50% or more), who employed more than 13 million people, and generated $1.9 trillion in sales? So, what issues and challenges do women face as entrepreneurs today? That’s what Web.com and the National Association of Women Business Owners (NAWBO) wanted to find out.
Their recent survey asked 552 women business owners (WBOs) across the country their motivations for starting their businesses, what business challenges they face, what and how micro- and macroeconomic factors impact their businesses, what investment plans they have for the year ahead, and what public policy issues are of greatest concern.
The survey revealed the following:
- A pervasive sense of economic optimism: 81 percent were optimistic about their business’ overall performance for the year ahead. WBOs also plan to invest more (38 percent) or the same (54 percent) in hiring this year than they did in 2012 – a positive sign for the economy.
- 2013 is the year of the female entrepreneur: 85 percent predict that more women will become entrepreneurs in 2013 than in past years.
- The top four issues keeping WBOs up at night: the state of the economy (57 percent), health insurance cost and affordability (40 percent), business tax issues (36 percent), and access to a quality workforce (36 percent).
- Marketing tactics with the greatest impact on a business’ bottom line: 52 percent of WBOs indicated that website design and maintenance was very important, followed by social media marketing and SEO (38 percent) and email marketing (25 percent).
- Obamacare not a small biz job killer: 71 percent feel that the Patient Protection and Affordable Care Act (“Obamacare”) will have no impact upon the way they do business.
For more on this survey, check out the infographic below:
For full survey results and to view and share the 2013 State of Women-Owned Businesses infographic, visit Web.com.