November 23, 2014  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Small Business News for Entrepreneurs

 

Small Business Startup News

 

Majority Of Female Small Business Owners Finance With Credit Cards, Personal Savings

Written by Ken Gaebler
Published: 7/6/2011

Lacking access to commercial financing vehicles, many female entrepreneurs are turning to credit cards and other sources of capital to fund their business goals.

With small business startup news mostly negative as far as bank lending is concerned, the majority of female small business owners have taken to financing their businesses with credit cards and their personal savings, according to a recent survey by PNC Financial Services Group.

Female Business Owner with Credit Card

The survey found that 59 percent of female small business owners used a business credit card and 44 percent used personal or family savings to fund their businesses.

Of the 1,300 female small business owners surveyed, 11 percent said their businesses were surpassing expectations. About half said their businesses were meeting expectations, and 51 percent said they expect their sales to increase.

"Our women's survey findings reinforce that the U.S. economy continues to suffer through this current soft patch, as growth has slowed into the realm of stalled speed," said PNC Chief Economist Stuart Hoffman. He added that even though PNC does not have big expectations for the second half of 2011, he does not expect there to be a double-dip recession.

Have Friends Who Might Like This Article?

Tweet via @gaeblerdotcom Share this on Twitter

Let them know on LinkedIn

 


About Our Small Business News

Gaebler.com journalists write new news articles for entrepreneurs every day. Our small business news articles review trends in business management, analyze the impact of new government policies, present relevant entrepreneurial research findings, and cover many other topics of interest to small business owners.

 

 

Additional Resources for Entrepreneurs

Help for Native American Entrepreneurs - Resources for Gay Entrepreneurs

Businesses for Sale - Online Entrepreneur Tools

Economics - Lists of Small Business Incubators - Lists of Angel Investors