Study Shows Female-Led Businesses Faring Better - Fox29 WFLX TV, West Palm Beach, FL-news & weather

Study Shows Female-Led Businesses Faring Better

By Al Pefley email

Riviera Beach, FL (WFLX)

Everyone knows we're in a recession.  A deep one.

But here's something you might not know.

A new study shows female-owned businesses are outperforming male-owned businesses in many cases in Florida.

A study by Florida International University sheds new light on the current recession. 

Sandie Foland is the CEO of Baron Sign based in Riviera Beach. Her company makes signs for schools, hospitals and commercial businesses.

She's got 50 employees, and hasn't had a single layoff since the recession hit.  

"We're doing what needs to be done in this business environment," Foland said. 

A new study by FIU shows women-led businesses in Florida, like Baron Sign Manufacturing, are faring better than most in the recession.

The study found one reason for that is they typically put more profits back into their company. And also, they don't rely on bank loans as much as businesses run by men.

Foland says she feels women may be a little more flexible than men, more willing to reach out and communicate with other business people and find customers in a way that men can't or won't.

"I think that women are not hesitant to reach out and ask for help," Foland said. 

The FIU study shows despite the recession, 54% of the women-led businesses in Florida experienced positive growth over the past two years.  The study found that unlike businesses run by men, female-led businesses rely more on finding new ways to generate revenue, instead of cost-cutting. And firms led by women tend to do a better job strengthening relationships with current customers and look for new opportunities.

"You have to take these difficult times to not just succeed in your company, but to improve your company so that when times get better you are positioned to grow and that's what I feel  women are doing now," Foland said. 

Foland, who's been with Baron Sign for 26 years,  says she expects to expand her business within the next two years  and add 10 more jobs.

She told us she's enjoying the recession. Why is that?  She says she now has a more productive group of employees, and since jobs are so scarce in this recession she has been able to replace people with eager ones who really want to work and go the extra mile.

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