NEW YORK (AP) -- A survey of women business owners finds that they have dealt with the recession and its aftermath by using traditional strategies like cost-cutting -- and newer ones such as social media.
The survey released Wednesday was sponsored by the National Federation of Independent Business, the Center for Women's Business Research and Chase Card Services. It found that during the recession, 45 percent of women owners responded to the weakening economy by cutting their expenses. Thirty-one percent said they focused on increasing their sales. Another 20 percent said they used both strategies.
Some of the cost-cutting meant reducing staffs. Thirty-six percent said they cut their payrolls. Forty percent said they cut the number of hours their employees worked. But payrolls are on the rebound -- 45 percent say they're now expanding their staffs.
The increasing popularity of social media encouraged women owners to use sites like Facebook and Twitter as part of their business during the recession. While just 4 percent of the survey participants said they used social media before the recession, 50 percent say they're using it now.
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