Women-owned businesses are vibrant, rooted in local communities — and expanding! According to the American City Business Journals (ACBJ), these operations are projected to account for nearly 40% of all U.S. businesses by 2017. What is fueling the rapid growth and what does it all mean for the local community?
The ACBJ surveyed a national sample of small and mid-size business owners. Their findings focused on 5 key areas:
- differences between men and women-owned businesses
- similarities between men and women-owned businesses
- profile characteristics
- work-ethic of women-owned businesses
You can download the full report here for full details.
For some additional insight, a “sister” publication, Bizwomen.com, went into the community to quiz professionals on their knowledge of women-owned businesses, which you can see in the following short video.
My key take away is that not only are their businesses growing in sales, but also in staffing. Three quarters of the survey response field indicated they were hiring new full time employees. And that is great news for the job market in local communities.
Also, women tended to be more highly engaged with the local community itself than the male respondents as you can see in this screen shot of the survey.
That filters back in terms of solid customer engagement to drive more sales. And that translates into continued growth, the need for staff expansion and the attraction of more customers to the over-all marketplace neighborhood.
( Anthony M. Scialis is an experienced print & broadcast writer who coordinates blog, Twitter & Facebook social media content to create a focused & powerful customer engagement effort which will bridge the gap between the wants of your small business to grow and the needs of your customers to be satisfied. Follow https://twitter.com/amssvs)