Woman-Owned Businesses Retain Employees in Tough Economy

Sept. 14, 2009
An annual survey by the Women Presidents' Organization (WPO) reveals that 55 percent of women presidents and CEOs of multi-million dollar companies have maintained or grown their employee base. This is just one of several findings suggesting women presidents have shown they can adjust to the changing economic climate, according to WPO.

The annual economic survey also showed that 67 percent of women-owned companies have increased or maintained employee salaries. Despite the economic downturn, 82 percent of women CEOs and presidents are optimistic about their company’s performance for 2010.

"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 WPO.

Additionally, 31 percent of companies reported their financial performance grew in 2009 as compared to 2008. More than half (54 percent) of women-owned companies have made their business environmentally friendly, while another 35 percent are interested in taking this step.

“Our survey indicates that WPO members have found ways to adapt to the changing economic climate,” Firestone said. “To succeed as a small business is tougher than ever, yet 56 percent 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.”

For more information, visit http://www.womenpresidentsorg.com.

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