Top 5 Trends Affecting Women-Owned Micro Businesses

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Personal Satisfaction

Despite challenges that women micro-business owners face in terms of running and growing a business, a majority of respondents say it has had a positive effect on their family life. In fact, 79 percent of survey respondents believe their business is good for work-life balance when the right support systems are in place.

Respondents also had more overall satisfaction with their personal and business lives. For example, 50 percent of women micro-business owners can now follow their passion, while 47 percent of them took control of their life by running their own business. By opening their own business, women micro-business owners feel as if they gain more control of their personal happiness.

Micro businesses – defined as a business with fewer than 10 employees – are a major part of the U.S. economy. From catering companies and jewelers to accountants – smaller businesses are continuing to grow across communities. And it turns out that women own most of these businesses. In fact, the U.S. Census Survey of Business Owners found that the number of women-owned businesses increased by almost 27 percent between 2007 and 2012.

It’s no surprise that more businesses than ever are being started by women, as 2016 has been an exciting year for female leaders both in business and in government. To better understand the challenges and opportunities presented to women leaders, especially micro-business owners, Vistaprint conducted a survey of 1,200 respondents in the U.S. and UK.

The following slideshow highlights the trends found within the survey, including areas of business growth, challenges, personal satisfaction, networking and prospects for the future.

 

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