CLEVELAND, Nov. 18, 2019 /PRNewswire/ -- Business is
good, according to women small business owners. A new Key4Women
2019 Financial Confidence Survey Report finds many women believe
their business growth is set to continue and expand, and we could
see a more level field among business ownership between men and
women. The report, which surveyed 250 women small business owners,
finds 71% are highly optimistic of achieving their goals in the
next 12 months, a 5% increase from 2018. Business growth is also
expected, as nine out of ten respondents say they plan to grow or
expand their business within the next two years.
Full Key4Women 2019 Financial Confidence Survey Report:
https://www.key.com/businesses-institutions/business-expertise/articles/2019-financial-confidence-survey.jsp
"It's very clear that optimism is the feeling among women small
business owners," said Barb Smith,
KeyBank Senior Vice President and Director of Key4Women. "We know
the impact Key4Women can make for many women, and now we're seeing
an environment where the differences in place are leading to the
fruition of business growth."
Unlocking Access to Funding
One of the greatest difficulties for women starting their own
businesses is access to funding for capital. 44% of women business
owners have used their own personal funding to raise their start-up
capital. The Confidence Survey Report shows that access is getting
easier. In 2018, only 21% of women say they found no difficulty to
access funding. That number has grown to 25% in 2019.
Leveling the Business Field?
While there are currently fewer women-owned small businesses
compared to men, many women believe that could be changing. Among
the women small business owners surveyed, 73% believe within the
next five years, the number of businesses owned by men and women
will either be similar, or women will own more businesses. Only 27%
believe men will continue to own more businesses than women.
"Glass ceilings can be broken. We see that every day with the
initiatives pursued by Key4Women. What can matter more today than
it ever has is the right kind of guidance, having a strong network
like Key4Women to rely upon for support to help grow their own
businesses in the most effective way," said Barb Smith. "If we can continue the trends of
access, along with the optimism we're hearing in survey results
like this, we are truly going to see women in business reach new
levels, and we'll all be better for it."
For more information about the Key4Women®, please
visit https://www.key.com/key4women
About Key4Women®
Since 2005, Key4Women® has supported women leaders and
entrepreneurs through advocacy, connections and empowerment to help
their careers and businesses thrive. The Key4Women® program is
uniquely focused on introducing women business leaders to a network
of likeminded professionals—both men and women; providing
customized financial wellness and business development resources;
and offering a platform to discuss overarching trends women
experience in the workplace.
About KeyCorp
KeyCorp's (NYSE: KEY) roots trace back 190 years to Albany, New York. Headquartered in
Cleveland, Ohio, Key is one of the
nation's largest bank-based financial services companies, with
assets of approximately $146.7
billion at September 30,
2019. Key provides deposit, lending, cash management, and
investment services to individuals and businesses in 15 states
under the name KeyBank National Association through a network of
over 1,100 branches and more than 1,400 ATMs. Key also provides a
broad range of sophisticated corporate and investment banking
products, such as merger and acquisition advice, public and private
debt and equity, syndications and derivatives to middle market
companies in selected industries throughout the United States under the KeyBanc Capital
Markets trade name. For more information, visit
https://www.key.com/. KeyBank is Member FDIC. © 2019. KeyCorp. CFMA
191113-694083
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SOURCE KeyCorp