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Credit Cards Turn Out To Be A Business Women’s Best Friend

by on July 11, 2011

The recent Women Business Owners Outlook survey from the PNC Financial Services Group revealed that the majority of female business owners in the U.S. are very happy with their overall business performance.

However, they are still hesitant when considering near-term investment or hiring in the second half of 2011.  Of the women business owners surveyed, most indicated that their still relying upon either personal or family savings or business credit cards for their operations instead of traditional bank financing.

According to Beth Marcello, director of Women’s Business Development at the PNC, those who constantly depend on their personal savings and credit cards put themselves at far greater personal financial risk than businesses relying on more traditional sources of lending.

According to Stuart Hoffman, chief economist at the PNC, while the latest findings in the survey have lowered economic expectations, he did offer some reassurance for the second half of 2011.  “Even though we are dialing back our expectations for the second half of 2011, we do not expect the economy to slide into a double-dip recession.”

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