● Groupon is celebrating women-owned businesses during October’s
National Women’s Small Business Month
● Survey of more than 850 women small business owners ranked
Texas, Illinois, Michigan, Indiana and Tennessee as the best states
for women to start their own business
● Fifty-four percent of respondents said they feel it’s likely
that the U.S. economy will go through a recession in the next 12
months
With one out of every five small businesses failing before the
end of their first year*, opening and running your own business is
an enormous challenge. According to a new Groupon survey, it’s even
tougher for female entrepreneurs with more than half of
respondents, 56 percent, saying that they had to overcome greater
obstacles than their male counterparts and nearly 50 percent of
respondents saying that they were held to a higher standard when
trying to open their own business.
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the full release here:
https://www.businesswire.com/news/home/20191002005773/en/
Groupon is celebrating women-owned
businesses during October’s National Women’s Small Business Month.
(Graphic: Business Wire)
The poll, commissioned by Groupon (NASDAQ: GRPN) for October’s
National Women’s Small Business Month, surveyed more than 850 women
small business owners to find out what sort of challenges they
face, the best states for women to open their own business, why
these entrepreneurs decided to become their own boss, how they
achieved success and the most important issues they want to see
addressed in the 2020 presidential election.
“As one of the largest marketplaces of small businesses anywhere
in the world, we’re thrilled to honor female entrepreneurs and
recognize the contributions and value they bring to our lives on a
daily basis and to the communities we call home,” said Sarah
Butterfass, chief product officer and Women at Groupon executive
sponsor. “Many of the women that we interviewed had to overcome
unique challenges in order to get their business off the ground and
offered a number of key insights for other women thinking about
starting their own business.”
Overcoming Unexpected Challenges
Seventy-one percent of women small business owners reported that
they faced unexpected challenges when they opened their business.
Some of these challenges included: balancing a business and a
family, struggling to be taken seriously, defying social norms,
owning their own accomplishments and gaining access to capital.
Thirty-four percent of women small business owners said they had to
finance the opening of their own business through personal savings
or by borrowing from a retirement account.
Ranking the Best States to Start Your Own Business
Taking into account a number of different factors such as
barriers to entry, economic conditions and available small business
resources, Texas, Illinois, Michigan, Indiana and Tennessee ranked
as the best states for women to start their own business.
Massachusetts, New Jersey, Washington, South Carolina and Ohio
rounded out the top 10. The top five ways identified by survey
respondents in which state officials can help small businesses are:
lowering or simplifying taxes, offering more small business
resources, improving access to healthcare and insurance benefits,
making housing more affordable and creating greater access to
capital.
Becoming Your Own Boss
According to the survey results, being your own boss, having a
flexible schedule, pursuing your passions, gaining more control
over your future and receiving equitable pay were the top five
biggest reasons women went into business for themselves.
Achieving Success
Of surveyed respondents, it took an average of nearly three
years to make their small business a success. Entrepreneurs said
that putting in the hard work, taking pride in the quality of their
product or service, building a personal network, serving an
underserved market or space and having innovative business ideas
were the biggest keys to their success. Thirty-six percent of
survey participants said they work more than 40 hours per week, and
76 percent stay up at night worrying about the success of their
business.
Making Their Voices Heard in the 2020 Election
Women small business owners were split on the Trump
administration’s impact on small business ––32 percent of those
surveyed said that the administration has had a positive impact on
their business and 31 percent said that it has had a negative
impact. When it comes to the Democratic presidential candidates,
more than half of the women small business owners who plan to vote
during the primaries don’t think any of the candidates will
positively impact small businesses. Of the respondents who
expressed a preference, Sen. Elizabeth Warren was identified as the
leading candidate who could have a positive impact on small
businesses. The Massachusetts senator was followed by former Vice
President Joe Biden, Sen. Bernie Sanders and Sen. Kamala
Harris.
The top election issues identified by women small business
owners were the following: healthcare, taxes, immigration, the
economy and gun control. Finally, 54 percent of respondents said
they feel it’s likely that the U.S. economy will go through a
recession in the next 12 months.
National Women’s Small Business Month was created by the Small
Business Administration to celebrate the contributions of
women-owned businesses. According to the American Express 2019
annual State of Women-owned Businesses Report, there are nearly 13
million women-owned businesses in the United States––supporting
over 9 million jobs and generating $1.9 trillion in revenue.**
Throughout the month, Groupon (gr.pn/WomensSmallBusinessMonth)
is featuring promotions from women-owned businesses who’ve used
Groupon to increase awareness and build their customer base.
Building great communities is one of Groupon’s five core values,
and the company is committed to continuing to promote initiatives
that help foster economic development and growth of small
businesses. For more information about Groupon’s community-building
initiatives, please visit https://community.groupon.com.
*https://www.sba.gov/sites/default/files/advocacy/Frequently-Asked-Questions-Small-Business-2018.pdf
**https://about.americanexpress.com/sites/americanexpress.newshq.businesswire.com/files/doc_library/file/2019-state-of-women-owned-businesses-report.pdf
About Groupon
Groupon (NASDAQ: GRPN) is building the daily habit in local
commerce, offering a vast mobile and online marketplace where
people discover and save on amazing things to do, see, eat and buy.
By enabling real-time commerce across local businesses, travel
destinations, consumer products and live events, shoppers can find
the best a city has to offer.
Groupon is redefining how small businesses attract and retain
customers by providing them with customizable and scalable
marketing tools and services to profitably grow their
businesses.
To download Groupon's top-rated mobile apps, visit
www.groupon.com/mobile. To search for great deals or subscribe to
Groupon emails, visit www.groupon.com. To learn more about the
company’s merchant solutions and how to work with Groupon, visit
www.groupon.com/merchant.
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version on businesswire.com: https://www.businesswire.com/news/home/20191002005773/en/
Media Contact: Groupon Nick Halliwell 312.999.3812
nhalliwell@groupon.com
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