Top 5 Trends Affecting Women-Owned Micro Businesses
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Challenges
While women micro-business owners believe their business is strong now and will continue on that path over the next year, they still face challenges when running their business. According to the survey, nearly one in five respondents say they work a second job to provide a supplementary income to support themselves and their families.
To support continued momentum and growth, 75 percent of women micro-business owners say it’s important to find and develop new business and sales opportunities. Yet, survey respondents said it can be challenging to find the right support to help promote and market their business properly.
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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