Women-owned firms in Ohio report growth

Enlarge

More than half of women entrepreneurs in Ohio say their companies are growing, despite a sense of malaise about the overall economy, according to a recent survey by PNC Bank.

In a survey of 150 Ohio women-owned businesses conducted by the Pittsburgh bank, 52 percent said they expect their sales to increase in the next six months. But 49 percent were pessimistic about the U.S. economy, and 43 percent had a negative outlook for the local economy.

More than 1,300 women business owners nationwide took part in the survey during phone interviews in the spring. Fifty-one percent of respondents expect increased sales, while 49 percent had a negative perception of the national economy.

"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," PNC economist Stuart Hoffman said in a statement.

Hiring was a bright spot for women-owned businesses in Ohio, according to PNC. About 26 percent of Ohio survey respondents planned to add jobs in the next six months, compared to 15 percent nationally.

Heidi Bisbee, owner of Bizzybee Marketing in Maumee, seemed to have a similar sales outlook to the PNC survey respondents. Although she believes the economy is holding steady, she said her business grew 30 to 40 percent in the last two years -- a trend that she expects will continue for the near future.

"I think most businesses would like to grow 10 percent, so anything above that is a bonus," said Ms. Bisbee, who did not participate in the PNC survey.

PNC conducted the poll because the number of women-owned businesses is expected to increase 15 to 20 percent in the next several years, spokesman Stan Lata said.

The number of women-owned companies in metro Toledo grew 6.7 percent from 2002 to 2007, according to data released this year by the U.S. Census Bureau.

Contact Sheena Harrison at: sharrison@theblade.com or 419-724-6103.