Are Women-Owned Businesses Thriving More Than Men's in Economic Downturn?

Keywords:
Minority Owned Business Plans

While it is difficult making broad generalities, many women-owned businesses are thriving, according to the Women’s Business Council Southwest in Dallas. In a year-end survey taken among members with operations in Texas, Oklahoma, New Mexico and Arkansas, 61 percent estimated a 2008 revenue growth of 26 percent or more. Moreover, 67 percent expect to top last year’s sales in 2009; 37 percent plan to add staff.

The key to success may be in the willingness to continue learning and evolving.

Many members of EWF International forums in Oklahoma City report similar success, said Darcie Harris, president and founder. When it was clear a tight economy lay ahead, EWF provided workshops on economics and recession-proofing business techniques.

"EWF members are committed to learning new tactical skills to run their businesses better,” Harris said. Groups primarily focus on three things: planning, accountability and what financial indicators to measure beyond income and expenses, such as the costs of labor to revenue or marketing to revenue.