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
"5 Actions for Double-Digit Business Growth" was written for the Idea Hub: American Express OPEN Forum. See if it's helpful in taking your business to the next level.
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.
The Women Presidents' Organization will be exhibiting at the upcoming Women's Business Development Center Chicago 23nd Annual Entrepreneurial Woman's Conference where we have been a longstanding partner for many years.
Birds of a feather flock together and all of us at the Women Presidents' Organization (WPO) definitely need to Twitter away together (Twitter WPO at http://twitter.com/womenpresidents) with a TweetChat, a short-term hyperfocus for your Tweets.
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