5/1/13
The top issues affecting women business owners are the state of the economy (57%), health insurance cost and affordability (40%), business tax issues (36%), and access to a quality workforce (36%), according to Web.com and the National Association of Women Business Owners. Although two in five women business owners cite health insurance costs and affordability as important issues, 71% say that the Patient Protection and Affordable Care Act (“Obamacare”) will have no impact on the way they do business.
More than eight in 10 of these business owners (81%) are optimistic about their business’s overall performance in 2013, and 74% are optimistic about the broader economic outlook. Women business owners are planning to invest more (38%) or the same (54%) in hiring this year than in 2012.
Their biggest challenge in 2013 is to gain new customers, with 73% planning to invest more in marketing in order to do so. Their key marketing expenditures include social media marketing (36%) and search engine optimization (36%). Among their current tactics, 52% feel website design and maintenance is very important, followed by social media marketing and SEO (38% each) and email marketing (25%). LinkedIn (27%) is cited as the most valuable social media platform, over Facebook (26%), YouTube (18%), and Twitter (17%).
Women business owners financed their businesses through credit cards (45%), business earnings (40%), and private sources, such as contributions from friends (37%). More than three in four (78%) did not seek a new or extended line of credit in the past year. Of these 78%, two in three (68%) didn’t need the extra funds, and the remaining 32% did not think they could qualify for the new loans.
The most significant motivational factors for these women to start their own companies are a vision (28%) and finding an idea that enabled them to become entrepreneurs (21%). They say the most important traits for running a successful business include passion, the vision to sustain a long-term idea, a willingness to fail before succeeding, and a willingness to take risks.
SOURCES: Web.com, Susan Datz Edelman, Director, 12808 Grn Bay Pkwy. W., Jacksonville, FL 32258; 904-680-6909; sedelman@web.com; www.web.com.
National Association of Women Business Owners, Joy Lutes, Public Policy, 171 Madison Ave., New York, NY 10016; 703-362-0150; jlutes@nawbo.org; www.nawbo.org.
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