Half of women business owners expect sales to increase

The findings of the first PNC Women Business Owners Outlook shows one out of two U.S. women business owners expect their sales to increase in the next 6 months. However, most have no plans to hire full-time employees as a “soft patch” has slowed the U.S. economic recovery. Women owners were found to be satisfied with their overall business performance, as six out of 10 say their companies are currently meeting or exceeding expectations.

The study found women owners show a reluctance to take on long-term financing or make capital investments in the months ahead. Most women owners are funding their businesses with credit cards and personal savings in lieu of long-term bank financing. Nearly six out of 10 (59%) use a business credit card and almost half (44%) rely on personal or family savings to fund their businesses.

Over a recent 10 year period, the number of women-owned businesses in the U.S. grew by 44%, twice as fast as men-owned firms. Over the same period, women-owned firms added 500,000 new jobs.