With about 300 members of the Women Presidents’ Organization responding, the survey found that:
- 84% are optimistic
- 87% report their business is growing
- 75% plan to hire new employees in the next six months
- 67% plan to offer raises to their employees this year
- Technology, marketing, office equipment and employee training are the largest categories of spending for the 96% who are putting money back into their businesses
- The largest categories for those planning to offer work/life benefits are retirement plans (47%), flex time (39%), and dental insurance (36%).
“Despite all the setbacks of the last two years, 2004 is shaping up to be a very successful year for our members,” said Women Presidents’ Organization (WPO) president Marsha Firestone in a news release. “The fourth quarter is promising to be the focal point in their 2004 financial futures. If these enterprising women are any indication of the state of women-owned business, this survey shows what an important economic engine women are for our economy and that we have good reason to be optimistic.”
The survey also found that the top growth challenges that member companies are facing include: Hiring competent and qualified employees, the economy, and competition (tied with sustaining growth).
The Women Presidents’ Organization serves a group of women corporate leaders. More information on the organization is at http://www.womenpresidentsorg.com/ .