Women-Owned Businesses Embrace High-Tech Tools

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BOONTON, NJ. March 23, 2000:

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Women-owned companies account for over nine million of US small businesses and they will spend $33.5 billion this year on telecommunications equipment, enhanced services, and Internet access, says a new report by The Insight Research Corporation. By the year 2005, women-owned businesses will nearly double their telecom expenditures, representing one of the fastest growing groups of telecommunication customers.

According to Small Business Telecom: Opportunities in the Women- and Minority-Owned Small Business Marketplace, "Women have been starting businesses at twice the rate of men over the past several years," says Robert Rosenberg, president of Insight, a leading telecommunications market research firm.  "Telecom companies are starting to recognize the growing number of women-owned businesses, supporting them through discount programs and associations with female business groups," says Rosenberg.

According to Insight, women-owned businesses will account for half of all US small businesses in five years.

"Our data shows that women have a strong presence in the small business world, as do people with children in the home," says Rosenberg. "These people are seeking greater flexibility and a better balance between work and family. Small businesses have special technology needs, requiring tools that enable them to work as productively and efficiently as larger firms. High-speed Internet access is the fastest growing high-tech product among small businesses.

Today's generation of female entreprenuers are different from the women business owners of 20 years ago. Today's female business owners are more likely to:

• have been in the workforce before starting their business,
• have worked in a professional or managerial position rather than a clerical one,
• own a business in communications, manufacturing, or other "non-traditional" industry.

"Telecom companies need to pay close attention to the special needs of the female entrepreneur, as she represents a significant, growing portion of their customer base," says Rosenberg. "We expect to see telecom carriers creating bundled offers which target this important market."

More women- and minority-owned small business statistics and forecasts are published in this research study written for the telecommunications industry. See www.insight-corp.com/wmsmall.asp for a table of contents and ordering information.

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Donna Savino

at Insight Research

973-541-9600