The majority of ABN Members are full time business owners actively growing their businesses
In our 2005 survey about three quarters of ABN members were completely self employed, and this result was found again in the 2007 survey. Almost half (48%) of the full time self employed are in the start-up stage of development, and 22% are in the growth stage.
There has been a decrease in the proportion of business owners who are in the first three years of full time self employment. From 2005 to 2007 it decreased by almost 10% to the current level – under half (47%).
Almost all (91%) of the members surveyed in 2007 were looking to expand their business in the next 1-2 years.
Most of the surveyed ABN members:
- Have Pty Ltd structured companies (55%)
- Work from home (59%).
- Are running micro businesses (37% have 1 to 5 staff, and 49% have no staff)
The bulk of your time is spent on work (average 47 hours) with a further 35 hours weekly spent on family, cooking or housework.
Attitudinal factors are important for success
The survey revealed your strong belief in attitudinal factors for success in business:
- Determination to succeed (94% rated important)
- Dedication to the business (94% rated important)
- Energy and enthusiasm (89% rated important)
‘People skills’ was the skill identified most frequently as an important contributor to success (92%).
Business and financial skills are key issues you are currently facing
Business skills were identified as an important factor for success by 78% of you. A lack of business skills was the second most reported current issue at 40%,and was also the fourth biggest barrier to getting ahead, identified by 70% of you.
Although financial ability was considered one of the least important contributors to success (51% rated important), accounting / bookkeeping was the most reported current issue (47%) and more members want to master financial skills (58%) than any other business skill.
Running costs are the biggest barrier to getting ahead
The top three barriers were:
- Running costs (86%)
- Lack of self promotion skills (77%)
- Competition (72%)
The most important role offered by the ABN is providing a community of like-minded women in similar positions
Around three quarters of respondents identified community as being an important benefit when they joined the ABN.
When asked to choose the one thing you now want most from your membership, the most common choices were:
- Peer support (chosen by 17%)
- Exposure (chosen by 17%)
- Advocacy (chosen by 17%)
The most important considerations for you when deciding to attend an event were: business development / training topics, appropriate time of day, networking opportunities, quality of speaker and price. We will continue to consider these needs when developing our event program.
The business skills you most want to master were:
- Financial skills (58%)
- Networking (52%)
- Marketing (44%)
- Planning / systems (44%)
Advocacy to government was a key aim for membership. This is an area the ABN is focusing on more. The results of this survey will be used to:
- Raise awareness of key issues, barriers and needs
- Profile the success stories of businesswomen
The ABN plans to use both government and general media channels to achieve this.
