Report Cites Four Ways for Banks and Women-Owned Businesses to Grow Together
Banks are encouraged to develop targeted financial services and marketing approaches to better serve America's growing women-owned business sector, in a white paper released today by Treliant Risk Advisors and the Greater DC Chapter of the National Association of Women Business Owners (NAWBO).
Current estimates place the number of women-owned businesses in the United States at over 8.6 million, with over $1.3 trillion in revenue and a growth rate that has far exceeded the national average in recent years. As this growth trend continues into the next decade, bankers and businesswomen can both benefit from a shared understanding of the distinct challenges these enterprises face, according to the white paper, titled "Banking on Women: Four Obstacles that Banks Can Overcome to Serve a Growing Sector."
"America's women-owned businesses are riding a growth curve," said Treliant Chief Business Officer Susanna K. Tisa. "Banks that eliminate persistent barriers and deliver more customized offerings to these enterprises stand to grow with them."
Read more: Treliant and NAWBO Issue White Paper: ‘Banking on Women’