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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%).

Survey reveals how female small business owners measure success

⏲ 1:18 👁 2.7M

Psychology Refresh

9 Weird Behaviors Of INFJ Personality Type

⏲ 9 minutes 👁 58.7K

Frank James

Ranking the 16 Myers-Briggs Types by Mental Age

⏲ 13 minutes 20 seconds 👁 194.2K

Residents of Charuma Village, Biche protested for hours on Monday morning calling for a meeting with the relevant agencies.<br/><br/>They believe their community has been neglected for far too long, and want resources to be directed toward the building of a community centre and the lighting of a recreation ground, amongst other things.<br/><br/>Our Reporter Cindy Raghubar-Teekersingh was in the community and tell us more.

THE 'NEGLECTED VILLAGE' OF CHARUMA

⏲ 3:29 👁 270K

Wenzes - INFJ LIFE COACH

INFJ Careers That Make Money | The 100K INFJ (Part 1)

⏲ 25 minutes 27 seconds 👁 52.5K

Frank James

What are the Cognitive Functions of the 16 Personalities? | Cognitive Functions Explained

⏲ 27 minutes 29 seconds 👁 217.7K

In this #LeadershipDeepDive episode, Rudi Peeters, CIO of KBC Group, talks with Hendrik Deckers about the role of Open Culture in the continuous transformation of a bank, the organisation’s cloud strategy, processes and architecture and how innovation is rooted in and contributes to the transformation journey.nDuring this conversation, Rudi also talks about how his curiosity, positivity and integrity have paved his path to become a CIO and the evolution of the role.nWatch this interview to lea

Rudi Peeters - CIO of KBC Group - The Open Culture imperative for continuous Transformation

⏲ 27 min 40 sec ✓ 13-Oct-2020

Psych2Go

6 Signs You're NOT An INFJ

⏲ 5 minutes 19 seconds 👁 534.4K

Casual Cognition

MBTI Personality Types: An Introduction

⏲ 11 minutes 29 seconds 👁 63.1K

All state governments have been urged to incorporate public inquiry procedures into their forestry laws which requires replacement of forest area after the degazettement of an existing forest area.<br/><br/>Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad told reporters after the Rakan Bumi Initiative for Mangrove Planting Programme 2024 on Sunday (May 12) that as of this month, 86.5 million trees of 1,823 species have been planted across the country, and the ministry is targeting to hit the 100 million mark by the end of next year.<br/><br/>WATCH MORE: https://thestartv.com/c/news<br/>SUBSCRIBE: https://cutt.ly/TheStar<br/>LIKE: https://fb.com/TheStarOnline

State govts urged to include public inquiry in forestry enactments

⏲ 4:8 👁 2.7M

Dr Muhammad Qamar ul Hassan

Discover you Personality Type (MBTI) Session for Human Resource Managers | By Qamar ul Hassan

⏲ 44 minutes 56 seconds 👁 89

Student Success Space

Benefits of Using MBTI in Human Resources

⏲ 3 minutes 36 seconds 👁 145

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