Female SME business owners embracing online, enjoying work/life balance

Australian female SME business owners are making the most of online technologies and say they have a satisfactory work/life balance, according to the latest MYOB Business Monitor.

Australian female SME business owners are making the most of online technologies and say they have a satisfactory work/life balance, according to the latest MYOB Business Monitor.

In the March 2014 MYOB survey, 58 per cent of female SME operators are satisfied with their work/life balance and 57 per cent describe their business as successful.

Although 20 per cent of female business operators experienced a revenue increase in the 12 months to February 2014, almost one third (31 per cent) expect their revenue to increase in the 12 months to February 2015.

According to MYOB, the best performing female-led businesses are based in South Australia, where 33 per cent saw an increase in annual revenue from February 2013, followed by Tasmania (25 per cent) and Queensland (23 per cent).

Many female business owners and managers recognise how highly rewarding it is to be in business, and their hard work and determination is paying off, said MYOB General Manager, Marketing, Caroline Ruddick.

“It’s pleasing to see that two thirds of business women are satisfied with their work/life balance,” Ruddick said. “Managing a business can be a juggling act, with many business responsibilities vying for attention, before business owners get to their personal priorities. It’s inspiring to see many are relishing their personal life and work priorities while thriving in business.”

Looking ahead to February 2015, MYOB found that female SMEs in South Australia are more likely to expect their revenue to rise. 40 per cent of South Australian female business owners expect to increase their revenue, followed by those in Victoria (36 per cent) and NSW (32 per cent).

In terms of their hopes for the health of the domestic economy, 24% of female SMEs overall believe the economy will improve in the 12 months to February 2015. Male business operators are slightly more optimistic, at 28%.

The MYOB Business Monitor found female-led SMEs are more likely to have an online presence for their business than their male counterparts (59 per cent compared to 50 per cent). Female business operators are also savvier with social media and cloud computing than their male counterparts. 47 per cent utilised social media and 35 per cent utilised cloud computing for their business, compared with 35 per cent and 31 per cent of male business operators, respectively. 

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