Many respondents say taxes and regulations impact their business the most, but say Congress needs to address healthcare costs first.
Washington, D.C. (May 6, 2019)—Today, the National Association of Women Business Owners (NAWBO) is announcing results from their annual membership survey sponsored by Bizwomen. The survey provides transparency on the economic climate from the viewpoint of women business owners, who will continue to be a growing force in our nation's economy for years to come. For 2019, the top three business challenges identified were: finding ways to drive growth (58%), finding time to focus on core business (47%), and finding high-quality employees (28%).
“Nearly a third of our members want to hire new employees but struggle to find qualified candidates to fill their empty positions. We must bridge this gap,” said Molly Gimmel, NAWBO National Board Chair. “Lawmakers need to look at the workforce and see how we educate the growing unskilled labor force. This problem looms over not only our NAWBO members, but all small business owners across America.”
“On the bright side, despite the challenges these women face, they continue to remain positive, with 99% planning to either increase or maintain their number of employees or contractors and 45% saying they are optimistic for their business and the economy overall, ” continued Gimmel.
Highlights of this year’s survey include:
- TOP THREE POLICY IMPACTS: 48% are impacted by taxes and regulation, 23% workforce issues, 11% government contracting and disparity studies
- TOP THREE CONGRESSIONAL ACTION ITEMS: 50% Address healthcare costs, 15%Make the tax cuts permanent, 14%Invest in America’s infrastructure
- CYBER: 46%have not done anything to prevent or prepare for a cybersecurity incident
- RETIREMENT: 67% are saving for retirement, but 58%have not done any succession planning for their business
To view infographics on the survey, click here.
On June 4, 2019, NAWBO members from across the country will be gathering in Washington, D.C. to discuss these issues with members of Congress and the Administration on their national Advocacy Day.
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About NAWBO
Founded in 1975, NAWBO is the unified voice of America's more than 11.6 million women-owned businesses representing the fastest growing segment of the economy. NAWBO is the only dues-based organization representing the interests of all women entrepreneurs across all industries. NAWBO develops programs that help navigate women entrepreneurs through the various stages of their business growth.
To learn more, please visit www.nawbo.org.
