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Sunday, August 31, 2014

Women-Owned Businesses On The Increase -- Here Are 5 Reasons Why

Women-owned businesses are experiencing historical growth in the U.S. According to the Guardian Small Business Research Institute, by 2018 women-owned businesses will be responsible for generating 5 million new jobs.

How do they do it?

Here are 5 reasons why women have been so successful in launching and growing their own companies.

#1 - Decrease in start-up costs - technology has enabled businesses to store information easier and cheaper. Laptop computers, tablets, and smartphones make it not only easier but cheaper to store data.

#2 - Rise of home-based businesses - it's socially acceptable now, and easier for women to work from home where they can juggle business and family responsibilities.

#3 - Cheaper advertising - due to digital marketing and social media, women can more easily promote their businesses without breaking the bank. YouTube, Facebook and Twitter make it easier and far less expensive to reach their customers.

#4 - Changes in lending - technology has also enabled lenders to lower the cost and speed of lending to small business. More competition among banks and other financial institutions has also opened up more business lending opportunities for women as small business owners.

#5 - More women college graduates - On average, women graduate at a rate of five to eight percent higher than males, according to a recent report by the Campaign For College Opportunity. Women are also becoming better at negotiating, running efficient businesses, and learning to become effective leaders.

To read the complete article published by Fox Business, visit http://smallbusiness.foxbusiness.com/entrepreneurs/2014/03/04/5-reasons-why-women-owned-businesses-are-thriving/
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