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One in four female small business owners has taken a pay cut in the past year, according to new research.<br/><br/>The survey of 1,000 female small business owners examined how their experience has shifted in the past year and found that the down economy has forced a quarter of these business owners to cut their own pay to keep their businesses afloat.<br/><br/>For those small businesses that have been open for at least a year, many have also raised the price of their product or service (37%), and more than a quarter are actively seeking less expensive resources (27%).<br/><br/>Conducted by Talker Research for Office Depot, the survey found that 53% of female business owners said the past year has been the hardest for their business.<br/><br/>In 2023, respondents expressed challenges with funding (42%) and growing their business (30%), which continue to be the top struggles this year (39% and 30% respectively).<br/><br/>Experiencing fatigue was more of a pain point last year (23%), while marketing is proving to be a greater challenge this year (25%).<br/><br/>However, hard work has paid off for many female small business owners this year, allowing them to reach their 2023 goals: growing profit (goal of 59%, achieved by 26%), gaining more customers (goal of 53%, achieved by 41%) and expanding their business (goal of 28%, achieved by 12%).<br/><br/>And to keep the momentum going, respondents predict they’ll continue to uplevel and succeed through continued revenue growth (63%), gaining more customers (54%) and business expansion (27%). <br/><br/>But success is also about a lot more than dollars and cents. Twenty-one percent of respondents said success is all about making a positive impact in their community and a fifth (21%) included innovation as a success marker.<br/><br/>And while the next year looks to be more positive for female small business owners, there will still be challenges to overcome, with inflation (39%) and funding (25%) serving as the top concerns.<br/><br/>To overcome these challenges, female SBOs are throwing themselves into their work more often — but how much is too much?<br/><br/>Work-life balance improvements have slowed by 15% since last year, as only this year, 58% said their work-life balance has improved since becoming a business owner, compared to 73% who said the same last year.<br/><br/>Women surveyed feel they need to choose between their family and their profession multiple times every month, while one in eight feel this way every week.<br/><br/>And overall, 42% said being a business owner has made it more difficult to balance their outside work responsibilities.<br/><br/>To better balance their work and family life, those surveyed are committed to “cutting back on working hours,” “taking time for quiet reflection” and “being willing to take a day off as necessary.”<br/><br/>For respondents who set up their business in the last year, top reasons include wanting to be one’s own boss (59%), deciding to pursue a passion or hobby (46%) and drive to put an idea into action (41%).
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Inside China Business
⏲ 3 minutes 34 seconds 👁 10.3K
Firstpost
⏲ 4 minutes 26 seconds 👁 242.2K
A Conservative MP has instructed his staff to no longer deal with asylum cases, saying he wants to prioritise his “limited resources”.<br/><br/>Marco Longhi faced shouts of “resign” and “shameful” as he raised the matter in the House of Commons at business questions.<br/><br/>The MP for Dudley North said: “I have stopped the large number of so-called asylum seekers from attending my surgeries and I have instructed my office to not deal with asylum cases for two reasons.<br/><br/>“As MPs, we have zero authority, zero mandate or influence over Home Office decisions. We have very limited resources and I, for one, want to dedicate my resources to putting Dudley people first.\
⏲ 2:14 👁 6M
Machine Eye
⏲ 3 hours 21 minutes 36 seconds 👁 17.8K
PowerfulJRE
⏲ 14 minutes 23 seconds 👁 3.9M
Companies that have a higher dependency on foreign workers may have to pay more for them, says Steven Sim.<br/><br/>The Human Resources Minister said the move was aimed at reducing the number of foreign workers in the country.<br/><br/>He said that a formula is being drafted for a multi-tier levy system to be imposed on companies based on the number of migrant workers they employ.<br/><br/>Read more at https://shorturl.at/dtCZ5<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline
⏲ 4:56 👁 11.1M
Inside China Business
⏲ 4 minutes 43 seconds 👁 8K
Business Basics
⏲ 46 minutes 23 seconds 👁 599.1K
Challenges persist in remote Naxal bastion Buddha Pahar, Jharkhand despite efforts to increase accessibility and security for elections. Voters cite unfulfilled promises, lack of resources, and conflict dynamics as obstacles.<br/><br/>In Video: Abhishek Basu<br/><br/>Follow us:<br/>Website: https://www.outlookindia.com/<br/>Facebook: https://www.facebook.com/Outlookindia<br/>Instagram: https://www.instagram.com/outlookindia/<br/>X: https://twitter.com/Outlookindia<br/>Whatsapp: https://whatsapp.com/channel/0029VaNrF3v0AgWLA6OnJH0R<br/>Youtube: https://www.youtube.com/@OutlookMagazine<br/>Dailymotion: https://www.dailymotion.com/outlookindia<br/><br/>#BuddhaPahar #Jharkhand #LokSabhaElections2024<br/>
⏲ 3:24 👁 430K
Firstpost
⏲ 5 minutes 33 seconds 👁 33.7K
lucia he
⏲ 3 minutes 10 seconds 👁 4
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