February 21, 2010

Women-Owned Businesses Changing The Face of The Workplace

Women are becoming the nation's job-creation engine, starting small businesses and stimulating new jobs at a rate that outdistances their male counterparts (woot!),and disproportionately exceeds their current contribution to U.S. employment, according to a report by Forbes.

The Guardian Life Small Business Research Institute projects that women who own small businesses will create from 5 million to 5.5 million new jobs across the U.S. by 2018.

The projection also reflects the fact that female-owned businesses are more often self-funded than male-owned ones, and are therefore less reliant on bank financing at a time when many say small business lending practices are more restricted.

Women that own small businesses tend to be more concerned (than their male counterparts) with things such as:

Creating a positive working environment for all;
Giving employees reasons to feel better as part of the team;
Paying employees better;
Providing better health care for employees;
Keeping the customers they have;
Cultivating customers who appreciate what they do;
Seeking input from their employees
Listening to their accountants, chief operating officers, chief financial officers and financial advisors;
Valuing the range of business information available to them from sources such as the Internet and professional associations;

The studies conclude that female small-business owners will have a profound impact on the U.S. economy as women entrepreneurs create more opportunity for employees to grow in their jobs, encourage others to start their own small businesses and inspire a greater commitment to superior customer service and retention.

Women. Hear Us Roar. Woot!

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