2/27/2012 - Women small business owners believe tough times ahead
A new study indicates many female small business owners believe the economy isn't out of the woods yet and their company may suffer as a result.
Conducted by Harris Interactive, the survey found that nearly three in four women anticipate their business will be adversely impacted by the economy in 2012, while just 22% think the economy will improve.
As a result, more than a third of small business owners who are women said they will cut back on hiring, 31% will postpone any raises in salary and 30% will delay giving their employees bonuses.
Anne Arvia, a retirement and insurance expert, said negative views of the economy often prevent small business owners from offering benefits packages.
"Women small business owners, like most of the small business owners we surveyed, may find it hard to invest in new benefits for their employees when they are unsure about the direction of the economy and how it will affect their business," said Arvia.
She added that this can impact on employer's ability to retain workers.
While business insurance
does not cover losses that result from a poor economy, it can help owners recover lost wages resulting from an environmental catastrophe that forces them to curtail operations.