| Business Wire, Inc. |
Women small business owners cautious about nation’s economic recovery according to a survey conducted during Women’s History Month
“These findings align with the measured approach we see in many of our own female customers,” said
Among small business owners, 91 percent of women say their business is successful, compared to 80 percent of men.
When asked to rate the overall level of risk they are currently taking with their business, 55 percent of female small business owners rate themselves as conservative, compared to 47 percent of males. Furthermore, 80 percent of female small business owners believe they would not have been more successful had they taken on more risk, compared to 67 percent of males.
Current Challenges
While female small business owners believe they are successful, they also acknowledge that they face some significant challenges.
Female small business owners characterize current challenges as:
| |
|
Not a Barrier | ||||||||||
| Increased costs of doing business | 50 percent | 36 percent | 14 percent | |||||||||
| Government rules and regulations | 36 percent | 35 percent | 28 percent | |||||||||
| Cash flow | 35 percent | 33 percent | 28 percent | |||||||||
| Lack of demand and/or customers | 21 percent | 29 percent | 46 percent | |||||||||
| Problems hiring and retaining qualified employees | 21 percent | 27 percent | 52 percent | |||||||||
| Access to credit | 15 percent | 31 percent | 50 percent |
U.S. Economy and Elections
Women are not as optimistic as men in their outlook on the U.S. economy. When asked to gauge their level of optimism that the national economy will strengthen this year, only 53 percent of women say they are optimistic, compared to 64 percent of men.
The survey also indicates that women are more likely to vote with their business in mind during November’s presidential election. Eighty-nine percent of female small business owners say that a presidential candidate’s position on pro-small business policies will have an impact on their vote, compared to 79 percent of males. Further, 55 percent of women surveyed indicate it will have a major impact, compared to 45 percent of men.
The Role of Government in Helping Small Business
The survey reveals that small business owners are not unified in their opinion on which government entity is most responsible for helping small businesses. However, women clearly feel local entities (state/local government and chambers) should take the lead.
| Male | Female | |||||||
| Federal government | 18 percent | 10 percent | ||||||
| State government | 18 percent | 24 percent | ||||||
| Local government | 13 percent | 16 percent | ||||||
| Local chambers and associations | 21 percent | 25 percent | ||||||
| Net state/local | 51 percent | 66 percent | ||||||
| None of these | 28 percent | 22 percent | ||||||
| Don’t know | 3 percent | 2 percent |
“Our research suggests that efforts to help small business owners should be addressed on all fronts," Co said. “Resources are needed at every level to foster small business success, from local organizations serving as advocates on behalf of small business in the community, to policies in
Nearly 30 years ago, The
For more information on The Hartford’s Small Business Success Study and Small Business Pulse, visit: www.thehartford.com/successstudy.
Small Business Pulse Methodology
The
About The
HIG-C
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2011 Annual Report on Form 10-K and the other filings we make with the
deborah.pont@thehartford.com Source:
| Copyright: | Copyright Business Wire 2012 |
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