Women Owned Businesses and Bank Switching: The Role of Customer Service
The number of businesses owned and operated by women is increasing rapidly, and women owned businesses are becoming a powerful economic force. It is estimated that half of the businesses in this country will be owned and operated by women by the year 2,000. This article describes research conducted on women owned small businesses and the nature of their banking relationships. Findings revealed that over 90% of those surveyed used banking products. A surprisingly high percentage of the women surveyed had switched banks. Major reasons for switching included poor customer service, an arrogant and condescending attitude on the part of bank personnel, and errors and mistakes. These results suggest opportunities for bank managers to improve the quality of their interactions with women business owners, a growing segment of the market.
Volume (Year): 5 (1996)
Issue (Month): 1 (Spring)
|Contact details of provider:|| Postal: |
Web page: http://bschool.pepperdine.edu/jef
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Gregory E. Elliehause & John D. Wolken, 1995. "Descriptive statistics from the 1987 National Survey of small business finances," Monograph, Board of Governors of the Federal Reserve System (U.S.), number 1995dsft1nsosb.
- James S. Ang & James Wuh Lin & Floyd Tyler, 1995. "Evidence on the Lack of Separation between Business and Personal Risks among Small Businesses," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 4(2), pages 197-210 , Fall.
- James F. Nielsen & Rowan M. Trayler & Bonnie M. Brown, 1995. "Banking Expectations: Do Bankers Really Understand the Needs of the Small Business Customer?," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 4(2), pages 99-112 , Fall.
- Hustedde, Ronald J. & Pulver, Glen C., 1992. "Factors affecting equity capital acquisition: The demand side," Journal of Business Venturing, Elsevier, vol. 7(5), pages 363-374, September.
- James S. Ang, 1992. "On the Theory of Finance for Privately Held Firms," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 1(3), pages 185-203 , Spring.
- Eugene W. Anderson & Mary W. Sullivan, 1993. "The Antecedents and Consequences of Customer Satisfaction for Firms," Marketing Science, INFORMS, vol. 12(2), pages 125-143.
- Haines, George & Riding, Allan & Thomas, Roland, 1991. "Small business bank shopping in Canada," Journal of Banking & Finance, Elsevier, vol. 15(6), pages 1041-1056, December.
When requesting a correction, please mention this item's handle: RePEc:pep:journl:v:5:y:1996:i:1:p:75-83. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Craig Everett)
If references are entirely missing, you can add them using this form.