According to the results of the new Women Presidents' Organization (WPO), 2013 Economic Impact Survey, 65 percent of women-owned and -led businesses experienced positive growth in the first half of 2013.
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Get Your Report Now!The annual "Economic Impact Survey", sponsored by KeyBank's Key4Women program, focuses on growth, economic stability, and future outlook of women-owned and led businesses around the world.
Survey results show that 50 percent of WPO members believe that economic conditions are the single biggest threat to their bottom line growth, however, 69 percent are optimistic in terms of 2013 financial performance to date.
Beyond the economic climate, 32 percent of WPO members cited 32% said that human resources--namely hiring and retaining good employees—is an issue that impacts their revenue.
However, despite HR concerns, 50 percent of women-owned and led businesses have hired new employees, and 63 percent have actually increased their employees' salaries in 2013.
When it comes to salary, business ownership can be lucrative: 76 percent of WPO members currently make at least six figures, and 28 percent have received a salary increase this year, further separating themselves from the statistic that women earn 77 cents on the dollar compared to men.
Dr. Marsha Firestone, PhD, president and founder of the WPO, said "It's reassuring to see that despite economic conditions and decreased optimism, these women are still hiring, providing salary increases, offering health insurance, and taking care of their employees in the face of uncertainty. It's an example that all business leaders should follow."