The State of Woman-Owned Businesses in 2015

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Women business owners are optimistic about the year ahead for both their own companies and the overall US economy, according to a recent report from the National Association of Women Business Owners (NAWBO) and Web.com.

The report was based on data from an annual survey of 306 women in the United States who are members of NAWBO.

Respondents expressed a significant increase in optimism for improved business performance and the overall economic outlook in 2015 compared with 2014, marking a three-year upward trend: 93% of women are optimistic about their business’ performance this year, and 90% are optimistic about the economic outlook.

Below, additional key findings from the report.

New Woman-Owned Businesses

Optimism for new woman-owned businesses dropped a bit from last year, though a clear majority of respondents (88%) still predict more women will start a business this year.

Motivators for Starting a Business

Some 29% of respondents say they started their own business because they had an idea they wanted to implement; other motivators include always having wanted to be an entrepreneur (19%), and wanting to solve a specific industry problem (12%).

Motherhood and Business Ownership

Some 30% of respondents say they would definitely recommend that a mother start her own business, 66% would do so with caveats, and 4% would not recommend it.

About the research: The report was based on data from an annual survey of 306 women in the United States who are members of NAWBO.

Ayaz Nanji is an independent digital strategist and the co-founder of Inbound ContentWorks, a marketing agency that specializes in content creation for businesses and brands. He is also a research writer for MarketingProfs. His past experience includes working for Google/YouTube, the Travel Channel, AOL, and the New York Times.

LinkedIn: Ayaz Nanji

Twitter: @ayaznanji

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The State of Woman-Owned Small Businesses [Infographic]

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Nine out of 10 women small business owners (89%) are optimistic about their company’s economic outlook this year, up 8 percentage points from 2013, according to a recent report from the National Association of Women Business Owners (NAWBO) and Web.com.

Most women small business owners (87%) are also optimistic about the overall economic outlook for 2014, up 12 percentage points from 2013.

Below, additional key findings from the report, which was based on data from an online survey of more than 600 woman small business owners based in the United States.

Women Entrepreneurs

  • 92% of respondents predict more women will venture to start their own businesses in 2014.
  • 32% of respondents say they started their own business because they always felt like an entrepreneur, a 10 percentage point increase over 2013.

Challenges

  • 90% of respondents say the state of the economy is an important factor for their business in 2014, 80% say business tax issues are important, and 71% say the cost/accessibility of healthcare is important.
  • The only two business factors considered important that recorded double-digit increases from 2013 levels were business tax issues (12 percentage point increase) and fuel/other energy costs (10 percentage point increase).

Investment and Growth

  • 69% of respondents plan to invest more in customer service this year, and 62% plan to boost their marketing spend.
  • 85% say using social networks is important for growth, but only 67% are using social networks for their businesses (an 18% gap).
  • Asked what they consider the future of small business marketing, women business owners cite two key channels: social media marketing (7 percentage point increase) and website design and maintenance (5 percentage point increase). All other areas are flat or down from the previous year.

For more findings from the report, check out the infographic below:

About the research: The report was based on data from an online survey of 606 women business owners in the United States. All respondents are women who own, operate, or are engaged in the operations of a small business (78% with annual gross revenues under $ 1 million).

Ayaz Nanji is a digital strategy and content consultant. He is also a research writer for MarketingProfs. His experience includes working as a strategist and producer of digital content for Google/YouTube, the Travel Channel, and AOL.

LinkedIn: Ayaz Nanji

Twitter: @ayaznanji

MarketingProfs All In One

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