Survey Says The Future Is Bright For Women-Owned Small Businesses

Women who own micro-businesses have a positive outlook on what the future holds, reports Vistaprint (UPIC: V565755), an online print and promotional products distributor. The company has conducted a survey of more than more than 1,200 respondents across the U.S. and UK focused on women-owned businesses, the issues they face, the tools they need and future trends to be expected.

For the purposes of its survey, Vistaprint defines micro businesses as being small in size and focus, with fewer than 10 employees, such as plumbers, estate lawyers, beauticians, dentists and even neighborhood dog walkers. In many cases, they are sole proprietors working for themselves and by themselves.

“The results of our survey reaffirmed the many benefits achieved by women-owned micro businesses today, but they also underscored the importance of having the proper tools and business support to keep these entrepreneurs ahead of the competition,” said Trynka Shineman, president of Vistaprint. “Our goal is to continue innovating our solutions to equip these micro businesses—which are the heart and soul of our local economy—with what they need to be successful so they can then encourage other female entrepreneurs to follow their dreams and start businesses of their own.”

The survey found that 63 percent of U.S. women say starting a business allowed them to take control and that 78 percent would recommend starting their own business to someone else. Furthermore, 72 percent of female micro business owners feel women have more opportunities available to them than in previous generations and 69 percent of female micro business owners expect more financial success for their business in the next year, with 62 percent of these owners planning to continue this growth over the next five years.

Respondents also listed a number of challenges in growing their business. The survey reported that 52 percent listed managing day-to-day operations as their biggest difficulty, while 47 percent cited developing new business opportunities being a critical component to their success. Vistaprint also found that 39 percent of respondents felt they would be most helped by having more networking and mentoring opportunities, and 35 percent of female micro business owners felt that receiving tax incentives or credits would greatly help them succeed.

“The results of our survey reaffirmed the many benefits achieved by women-owned micro businesses today, but they also underscored the importance of having the proper tools and business support to keep these entrepreneurs ahead of the competition,” said Shineman. “Our goal is to continue innovating our solutions to equip these micro businesses—which are the heart and soul of our local economy—with what they need to be successful so they can then encourage other female entrepreneurs to follow their dreams and start businesses of their own.”

More information and the full survey can be found here.

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