Women entrepreneurs exhibit confidence despite rough economy

6/17/2011

A number of indicators are showing that women entrepreneurs are growing more optimistic despite the rocky American economy, a new report from the Center for Women's Business Research shows.

When it comes to employment, 41.5 percent of women entrepreneurs plan to hire new workers in the next 12 months while only 4.9 percent intend to let go of workers. This is noteworthy, especially considering statistics from the Department of Labor showing that hiring has stalled for the most part among American small businesses.

"The index results illustrate that women business owners used the economic slow-down to improve their businesses, adjust their practices and poise themselves for growth in employment and into new markets," said Maria Coyne, Key's head of Business Banking and founder of Key4Women.

Still, small business lending is a big a factor for this subset of entrepreneurs, with the majority of respondents indicating cash flow is one of their biggest challenges. The key is leveraging multiple sources of funding, which, according to a recent Pepperdine University report, many small company owners don't do.