According to a report on Inc.com titled, Most Female Owners Expect Business to Grow, four in five women hope to grow their businesses over the next two years.
On a personal note, I really feel that the terminology given in this report is misleading. As a small business owner, if asked, “Do you hope to grow your business in the next two years”… of course I’m going to say an emphatic ‘YES!’. Hoping for growth and expecting it are two very different things.
Some other interesting facts from the report:
- Eight percent of women were happy with their current level of business, one percent planned to scale back, three percent were expecting to close up shop, and seven percent hoped to sell their business.
- Approximately 40% reported that they were willing to make moderate risks to grow their business. However, the majority said they would take a more balanced approach.
- Women consult their spouse more often than professional advisers or peers.
- Women are most driven by passion, followed by financial success.
- Fifteen percent plan to hire new employees, although 72% expected to cut back.
What are your expectations for your business in the upcoming years? Do you feel, even with the current state of the economy, that your business will experience growth? If yes, what steps are you taking to help make this reality?