Women Small Business Owners Say They’re Happier Than Ever Being Their Own Boss, Despite Work/Life Balance Struggle and Ongoing Challenges
October 01 2021 - 8:45AM
Business Wire
- According to a new Groupon survey of more than 600 women
small business owners, 94% are happier than ever being their
own boss
- 64% of women small business owners reported they make
just as much or more money than they did before running their own
business
- 76% of women who own their own business said they work
more than the standard 8-hour workday, with the average owner
working 12 hours a day
- New Jersey, New York, Massachusetts, Ohio and California
identified as the top states for minority women to state a
business
Groupon, the go-to destination for local experiences, is
encouraging everyone to celebrate October’s National Women’s
Small Business Month. To make it easy to support and shop at
women-owned businesses, Groupon is featuring approximately 2,000
women-owned businesses from across the United States. Groupon spoke
with more than 600 women small business owners from around the
United States to better understand why they decided to become their
own boss and how they have remained resilient during the global
pandemic.
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the full release here:
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In recognition of October's National
Women's Small Business Month, Groupon spoke with more than 600
women small business owners from around the United States to better
understand why they decided to become their own boss and how they
have remained resilient during the global pandemic. (Graphic:
Business Wire)
Women Small Business Owners Say They’re
Held to a Different Standard than Men
According to the survey results, women small business owners
continue to face systemic challenges as a result of their
gender. Fifty-four percent of women small business
owners said they’re held to a different standard than their male
counterparts when it comes to accessing capital, acquiring mentors
and being taken seriously by their peers. Fifty-four percent
of survey respondents also said that it’s harder for them to
balance work and family life.
Women Put in the Work to be Their Own
Boss
Despite these obstacles, nearly all women small business owners––an
overwhelming 94%––are happy with their choice to work for
themselves and ready to overcome any challenges thrown their way.
Seventy-six percent of women small business owners work
beyond the standard 8-hour work day, with the average owner working
12 hours a day. And this hard work is paying off, as 64% of
women small business owners said they make as much or more money
than they did before opening their own business.
“As one of the largest marketplaces of women-owned small
businesses anywhere in the world, we’re excited and encouraged by
the progress these entrepreneurs are making, and we’re focused on
opening up new opportunities for women –– both internally and
externally –– to create a Groupon that’s reflective of the world we
want to live in,” said Groupon’s Chief Financial Officer Melissa
Thomas. “We’re extremely proud of the fact that nearly
60%* of the small businesses on Groupon are owned by women, and
we’re committed to ensuring these merchants come out of the
pandemic stronger than ever.”
Increasing Awareness and Support for
Women-Owned Businesses
According to the survey results, women small business owners
have a clear plan and path to drive revenue and accelerate their
recovery from the pandemic. The top ways that women-owned
businesses are looking to increase profits are the following:
growing their social media presence, leveraging sales, expanding
inventory, taking advantage of government or small business
organization loans and resources and running paid advertising
campaigns.
Even before the start of the pandemic, many states invested
heavily in education and financial programs to help foster the
development and success of small businesses. After the pandemic
hit, many states stepped up to help the businesses impacted by
movement restrictions in the form of deferring sales tax payments
and increasing financial support through state grants.
Groupon asked women small business owners to score their state
based on three criteria: how easy it is for women to start their
own businesses, support offered to women of color to start their
own business and resources provided to help women-owned businesses
recover from the pandemic. Based on the survey results, some
states consistently showed up as going above and beyond for women
entrepreneurs:
- New York, New Jersey, Massachusetts,
Florida and Ohio were the top states for women
looking to start their own business.
- New Jersey, New York, Massachusetts,
Ohio and California were identified as the top states
for minority women to state a business.
- New York, Massachusetts, New Jersey,
Florida and Colorado were the top states when it came
to helping women-owned businesses recover from the devastating
impact of COVID-19.
Taking Action
Groupon is urging consumers to celebrate National Women’s Small
Business Month by supporting women-owned businesses in their local
communities as well as by making a donation to help provide new
women entrepreneurs with much needed capital. To find a women-owned
business that you can support in your community, please visit
gr.pn/wsbm.
*June 2021 Merchant Satisfaction Survey. Survey of active
merchants conducted June 8-23
About Groupon
Groupon (NASDAQ: GRPN) is an experiences marketplace where
consumers discover fun things to do and local businesses thrive.
For our customers, this means giving them an amazing selection of
experiences at great values. For our merchants, this means making
it easy for them to partner with Groupon and reach millions of
consumers around the world.
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version on businesswire.com: https://www.businesswire.com/news/home/20211001005480/en/
Groupon Nick Halliwell nhalliwell@groupon.com
Allison & Partners Lexi Holden groupon@allisonpr.com
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