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Female Small Business Owners Making a Splash in SMB World
Published on Jul 5, 2011
A survey finds that female small business owners are making their presence felt in the small business world and reaping advantages.
The business world has been historically dominated by males, but a new survey finds that female small business owners are making their presence felt in the realm of small business ownership.
The inaugural PNC Women Business Owners Outlook survey found that one out of two female business owners in the U.S. expect their sales to increase in the next six months, and six out of 10 claim their businesses are meeting or exceeding expectations.
But those expectations may be inflated due to six out of 10 female business owners also claiming to use credit cards and 44 percent use personal savings to fund their ventures.
"While women business owners often describe themselves as being debt-averse, those who rely strictly on savings and credit cards leave few options to weather downturns without cashing in personal assets or taking a hit to their personal credit history," said Beth Marcello, director of Women's Business Development at PNC.
Females can also reap advantages provided by the federal government. According to the U.S. Small Business Administration, the government recently passed the Women-Owned Small Business Federal Contract program, which provides federal contracting opportunities to small businesses with at least 51 percent female ownership.