US Digital Economy: Women all the Way

It seems like women are leading the way in the US digital revolution.  The yearly 2018 Bank of America Women Business Owner Spotlight showed that there is a lot of optimism among female entrepreneurs with a staggering 49% of them expecting an improvement within their local economies and 48& to expect this from the national economy.

In general the women are confident: about the economy, about their success in the economy and about elevation in future growth within their particular positions.  In addition, 56 percent of women are planning to expand their businesses within the next five years. According to Managing Director and head of Small Business, Bank of America, Sharon Miller:

“When it comes to small business, women entrepreneurs are at the forefront of the digital transformation. It is exciting to see how they are innovating and leveraging mobile tools to help their businesses succeed. Their increased optimism about the future and the potential for hiring and growth is also very encouraging.”

Digitally, half of all SME owners predict a total switch to digital payments within the next five years and the women seem to be in charge of this, with mobile devices processing payments and engaging in transaction management. Indeed only 26 percent of men use mobile devices to process digital fiscal transactions whereas 33 percent of women do.