There’s good news on the economic front, according to the Women Presidents’ Organization’s annual survey.  The survey reveals that 67% of companies have increased or maintained employee salaries during this recession.   Results from the surveyed membership (membership is women driven) indicate 55% of women presidents and CEOs of multi-million dollar companies have maintained or grown their employee base.  Despite the economic downturn, 82% of these CEOs and presidents are optimistic about their company’s performance for 2010.

This year has produced some compelling numbers in financial performance:

• 31% of companies have grown and 21% are stable and have neutral performance. 
• 54% have made their business environmental friendly.
• 35% are interested in making their business environmental friendly.

These women members of WPO say their greatest threats to the bottom line  are economic conditions, customer retention, competition, and human resources.  Fifty five percent plan to hire additional employees in 2010 and 53% have kept employee salaries the same with 15% increasing employee salaries.

At a time when unemployment is headed toward 10% in this country (this rate hasn’t been this high since the ‘80’s), women owned businesses continue to grow.  Have we heard about this new survey in the mainstream media?  Are people talking about this success?  Can we find strength and motivation in these numbers?  Yes, we can!  This is the free market at work.

Membership in WPO requires a member to have $2 million in gross annual sales or $1 million for service-based business.  WPO members collectively generate $14.5 billion in annual revenue and represent about 22,000 years of collective business experience.  The membership comprises 1,400 accomplished women entrepreneurs at the multi-million dollar level who aim to increase their business success.  Women now drive the world economy.  Globally, they control about $20 trillion in annual consumer spending, and that figure could climb as high as $28 trillion in the next five years. 

What say you about this ray of sunshine?

2 Responses to “An Economic Ray of Sunshine?”

1. Maureen Cretella Says:
   October 15th, 2009 at 12:15 pm

   I say, carry an umbrella, stormy weather is coming. I, too, have maintained my employees and have maintained their salaries, however, it comes at a price. My company is definetly top heavy right now with my overhead burden, but I need to stay ready in the hopes that the next construction job comes along. However, the impending new taxes and the uncertainty of the health care bills has me frightened. My health care renewal comes on Dec. 1 and the premium increase is 26%. Employee only, single coverage will be $9,000 annually and family coverage will be over $26,000. I do not know how long I can maintain my current workforce.

2. Dona Storey Says:
   October 20th, 2009 at 2:51 pm

   As a business owner and daughter of an immigrant who was an entrepreneur I knew what I was in for but I will admit these are trying times for any family, especially a family business like mine. As a family business I employ the entire family for two generations…no pressure here! When it comes to healthcare again there are no options, nothing less than the best and safest route is the only choice if you care about your family. I just reveiewed the impact of the roll back of the Bush tax cuts and it is frightening. I don’t know what it is going to take short of families marching in the streets saying enough of this need in DC to punish those of us that risk it all for our families. It is time we be rewarded for our initiative and acheivements, those American values…OUR BRAND…that beautful thing my late father called America…the best country in the world! These are highly emotional times for me. I have chosen to channel my frustration into creating open dialogue to get these thoughts and feelings out into the public forum with others. For all of the trials and tribulations there is nothing better than acheving the American Dream working side by side with members of your family…we must find better ways to reward this system!

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