News of Interest: Annual Economic Survey by the Women Presidents' Organization

According to the annual economic survey by the Women Presidents’ Organization (WPO), the premier peer advisory organization for women entrepreneurs, WPO membership indicate 55% of women presidents and CEOs of multi-million dollar companies have maintained or grown their employee base.

Bottom line: Women presidents have shown they can adjust to the changing economic climate.

Other Key Findings:

Relative to 2008, regarding financial performance in 2009

• 31% of companies have grown
• 21% are stable and have neutral performance

Optimism for 2010

• 82% are optimistic about business performance in 2010

Environmental Sustainability

• 54% have made their business environmentally friendly
• 35% are interested in making their business environmentally friendly

Greatest threat to the bottom line and factors affecting business

• Economic Conditions
• Customer retention
• Competition
• Human Resources

Employees

• 55% plan to increase number of employees or keep the same amount
• 53% have kept employee salaries the same; 15% have increased employee salaries

Future Role

• 44% will continue full-time management
• 20% plan hands-off oversight, with presence in the office 1-3 days per week

WPO

• 61% Believe their business has grown since joining
• 65% Believe the WPO has contributed to economic success
• 81% Believe the WPO helps manage business concerns in the current economic climate

“These statistics are evidence of the versatility and strength of companies owned by women entrepreneurs in the face of adversity,” said Marsha Firestone Ph.D. president and founder of the WPO. “Our survey indicates that WPO members have found ways to adapt to the changing economic climate. To succeed as a small business is tougher than ever, yet 56% have indicated that their businesses are growing or stable in 2009. I sincerely believe that the members of the WPO are models of perseverance of small businesses globally.”

Additional references:

Woman-Owned Businesses Retaining Their Employees in Tough Economy, The Institute for Economic Empowerment for Women

Women-Owned Businesses Retain Employees in Tough Economy | EHS Today

Women-Owned Businesses Retaining Their Employees in Tough Economy | Forbes