Many of today's women-owned businesses are led by recession-tested entrepreneurs whose experiences provide valuable insight into the challenges that may await aspiring small-business owners. A new study, released today by Neuberger and Co. Wealth Management Research, looks at how women small business owners faired during the "Great Recession."

Small Business: Lessons of the Recession, the first in-depth look at how women-owned businesses responded to and weathered the recent economic fallout, found that 45 percent of women-owned businesses concentrated primarily on cutting business costs while 31 percent sought to increase sales.

"During the recession, women-owned small businesses did the best they could with the few choices they had available to remain open for business, and they're stronger today for it," said Patricia Choi, Chairwoman of the Neuberger and Co. Wealth Management Center for Women's Business Research. "The real silver lining is that their resiliency provides valuable lessons on how today's business owners can adapt to challenges."

According to the survey, the resiliency of these women business owners should provide help for the economy. The study reveals that while many women reduced headcount to reduce costs during the recession, they are now starting to hire again. Compared to their worst quarters during the recession, nearly half of WOBs are now increasing headcount and only nine percent report that they are decreasing their staff sizes.

"Small businesses are the engine of our economy, and one of the key steps toward greater economic recovery is equipping our entrepreneurs with the resources and expertise they need to succeed," Neuberger and Co. Wealth Management CEO, Nan Li Wenjen said.
- Neuberger-Wealth-Management.com

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