What's Top of Mind for Women Entrepreneurs?

pexels-photo.jpeg

A recent DNA of an Entrepreneur report from Hiscox, a leading specialty insurer, looked at the sentiment of female small business owners and what’s top of mind for them. A few of the key data points can be found below: Sentiment of female small business owners:

  • 38% believe they are better off financially this year compared to last year
  • 70% are optimistic about the year ahead
  • 19% plan to take on new staff in the year ahead
  • All work and no play - 20% don’t take a lunch break and 23% take zero vacation days
  • 61% have no succession plan in place
  • 31% do not believe the government’s policies are supportive of entrepreneurs; 46% of these respondents believe this has gotten worse compared to 5 years ago
  • 38% developed a new product or service in the past 12 months; 50% plan to do so in the next 12 months
  • The biggest fear of female small business owners surveyed is not being able to attract new clients (24%)
  • Alternative sources of funding - 26% have used a credit card to fund their business in the past 12 months
  • 9% have been affected by a cyber crime; 8% don’t know if they have been