A new survey shows that despite inflation, a majority of women and minority small business owners have an overall positive outlook.A new survey shows that despite inflation and a potential recession, a majority of women and minority small business owners have an overall positive outlook and what's helping their bottom line might surprise you.during the pandemic in August 2020. And while that may sound like a daunting prospect, she says the experience helped her innovate.
"It forced us to kind of think outside the box or change the norms of how we normally would run the business.""By creating these care plans we are able to allow them to basically age in place.""In fact 63% of our women business owners are telling us that they expect revenues to increase over the course of the next 12 months. And that includes our minority business owners," said Carol Lee Mitchell, senior vice president of Bank of America.
87% of Black business owners say they are committed to driving social change through their business. And because of that commitment, 34% of Black business owners say they have increased their customer base and 47% of women small business owners plan to expand over the next year."It's not just about driving sales and revenue but it's also standing up for a cause and a purpose, a greater purpose. That means a lot to the individual as well as to the community," said Mitchell.
Two other interesting numbers from the spotlight survey: 60% of women entrepreneurs, including Taylor, say they taught themselves how to become small business owners. And 71% of women small business owners say they do feel equipped to weather a recession.
Remember that Popcorn Place that was selling Walmart cakes for $65 and carrying on like an animal?
I will not patronize any business that advertises the race of the owners. Who’s with me