Research Summary

Ireland's Women-Owned Firms are Thriving

Center for Women’s Business Research  ·  July 22, 1998

Many use technology and have access to capital

“Business Women of Ireland Concerns, Plans and Expectations” reveals that 63% of the entrepreneurial members of Network Ireland, a national organization for women in business in Ireland, plan business expansion by increasing sales and employment, opening new stores, or expanding their part-time businesses into full-time enterprises. The Bank of Ireland also supported the survey.

“Fully 70% of the women entrepreneurs who participated in the Ireland survey experienced business growth in 1997 and 85% expect additional business growth in 1998,” observed Lois E. Haber, CLU, ChFC, Chair of NFWBO and President of Delaware Valley Financial Services, Inc. in Berwyn, PA. “Women-owned businesses in Ireland are accessing capital to grow their businesses and relying heavily on technology similar to their counterparts in the U.S.”

“More than half (53%) of the women business owners who participated in the Network Ireland survey reported that technology plays a very or extremely important role in their businesses today,” said Cherie Piebes, Global Market Executive, Women Entrepreneurs for IBM. “It is noteworthy that it is the women business owners of newer firms who most keenly recognize the importance of technology to their firms.”

The “Business Women of Ireland” survey revealed that among women business owners:

81% use computers in their workplaces;36% are on the Internet;19% have a Web Page for their businesses.

In the United States, a 1997 NFWBO survey (also commissioned by IBM) showed that 92% of women business owners were using computers in their businesses; 47% subscribed to an online service, and 23% had a Web Page for their firms.

While 50% percent of Network Ireland business owner survey respondents said that access to capital is a key business concern, a large share 77% currently have bank credit available for their business needs. A 1996 NFWBO survey in the U.S. underwritten by Wells Fargo Bank with additional support from AT&T Credit Corporation and Ernst & Young LLP showed that 48% of women business owners had some form of bank credit for their businesses, such as a loan or line of credit.

The survey of women entrepreneurs in Ireland provides insights into how they are using credit in their businesses:

52% use bank credit for day-to-day working capital purposes;37% use credit to expand their business;34% use credit for seasonal or occasional working capital.

“The Network Ireland survey findings reflect the pace of change in society, and the economic and wealth generation potential of women,” explained Michael Connolly, general manager, Business & International Banking, Bank of Ireland. “It debunks some myths and also highlights the work still to be done to promote and support women in every aspect of their business and professional lives.”

For information about Network Ireland, visit the organization’s home page , or call +353-1-455-6628.

Charts

Women Entrepreneurs in Ireland Have Experienced & Are Planning Growth

Irish Women Entrepreneurs Are Using TechnologyTypes of Financing Used In The Past 12 MonthsWomen Entrepreneurs in Ireland Are Using Credit For...

Methodology Note: The Network Survey was designed and mailed by IBM to over 900 members of Network Ireland in February 1998. Responses were returned anonymously by free post, and were forwarded to the National Foundation for Women Business Owners for data processing and tabulation. Respondents were offered an incentive for their cooperation in the survey participation in a competition for a Bank of Ireland reserve deposit account worth 1500. Three hundred and three (303) Network members returned completed surveys by the March 31 cutoff date, resulting in a response rate of approximately 33%. The sampling error for a survey of 303 is 5.8% at the 95% level of confidence. This means that, 95 times out of 100, the survey responses will be within 5.8% of true population values.

The National Foundation for Women Business Owners (NFWBO) is a nonprofit research and leadership development foundation. NFWBO is recognized as the premier source of information and intelligence on women business owners and their enterprises by corporations, policy makers, financial institutions and the media. Up-to-date intelligence about women business owners and their enterprises worldwide is documented in NFWBO’s original research and analysis. The Foundation is affiliated with the National Association of Women Business Owners (NAWBO).

IBM is committed to meeting the business and working needs of today’s woman. The company has identified women in business as one of its 13 General Business segments. IBM is committed to women in business and has set up dedicated teams of professionals around the globe.

Network Ireland is a national organization for women in business, the professions and the arts. With ten branches and almost 1000 members, Network Ireland provides a forum for members to conduct business, build contacts, socialize and develop new skills by interacting with other career women from a wide variety of backgrounds.

Bank of Ireland has a number of initiatives in place to support business women including the appointment in 1997 of the first dedicated national manager in an Irish bank to cater to this growing segment of the business market. In addition, Bank of Ireland is Network’s major national sponsor and through this alliance has provided a range of supports including membership development programs and business skills workshops for business owners.

Research Summaries by Date  ·  Research Summaries by Topic