Woman Owned Businesses Retaining Their Employees and Providing Benefits in Tough Economy

The annual survey by the Women Presidents’ Organization shows 85% of companies provide health insurance to their employees

New York, NY (November 2010) – Women presidents have shown they can adjust to the changing economic climate. Results from the surveyed membership indicate 74% of women presidents and CEOs of multi-million dollar companies have maintained or grown their employee base, according to the annual economic survey by the Women Presidents’ Organization (WPO), the premier peer advisory organization for women entrepreneurs.  Despite the economic downturn, 79% of these CEOs and presidents are optimistic about their company’s performance for 2010.

“These statistics are evidence of the versatility and strength of companies owned by women entrepreneurs in the face of adversity,” said Marsha Firestone Ph.D. president and founder of the WPO. “Our survey indicates that WPO members have found ways to adapt to the changing economic climate. To succeed as a small business is tougher than ever, yet 80% have indicated that their businesses are growing or stable in 2010. I sincerely believe that the members of the WPO are models of perseverance of small businesses globally.”

The WPO currently has 1400 members from four continents (US, Canada, Peru, South Africa and the UK) and the survey showed that 80% of these women presidents confirmed that the WPO has helped manage their business concerns in the current economic climate.

Other Key Findings:

Health Care

  • 85% provide health insurance to their employees
  • 32% cover 81%-100% of health insurance for employees

Future Role for the Next Five Years

  • 43% will continue full-time management
  • 16% plan hands-off oversight, with presence in the office 1-3 days per week
  • 11% will have implemented exit strategy, starting a new venture

WPO

  • 63% of member businesses have grown since joining
  • 80% Believe the WPO helps manage business concerns in the current economic climate
  • 70% Believe their WPO Chapter is the most valuable resource that WPO provides.
  • 70% of WPO members have done business with a WPO members and/or WPO Corporate Sponsor

This survey was sponsored by American Express OPEN.

Additional survey data and interviews are available upon request.

About the WPO:

The WPO is the premier peer advisory organization connecting women who own multi-million dollar companies.  In monthly meetings across four continents (US, Canada, Peru, South Africa and the UK) chapters of 20 women presidents – from diverse industries– invest time and energy in themselves and their businesses to drive their corporations to the next level. Local WPO chapters are coordinated by a professional facilitator and meet monthly to share business expertise and experience in a confidential setting. For more information, call 212-688-4114 or visit www.womenpresidentsorg.com.

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