Economy Forces Female Business Owners To Use Credit

A recent report by PNC Financial Services Group showed that approximately 50 percent of women who own businesses plan on receipts increasing over the next six months.

The PNC Women Business Owners Outlook also noted a majority of these Americans do not plan to hire additional workers due to the slow economy.

"Our women's survey findings reinforce that the U.S. economy continues to suffer through this current soft patch, as growth has slowed into the realm of stalled speed," said Stuart Hoffman, chief economist of the PNC Financial Services Group. "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."

A large amount of women who own businesses plan to use money saved up, along with credit cards, in order to pay for their organization's expenses if need be. Close to 60 percent already use credit and nearly 45 percent depend on savings to pay for their business.

Avoiding outside help when needing to make a payment may be a poor choice, especially with the current state of the economy. Credit card debt could become a burden on business owners. While it may be good to have a card, it is also probably wise to keep a close eye on purchases.