Employees who work for women small business owners (WSBOs) may be forced to consider part-time or temporary work if they need additional funds. A recent Nationwide Financial survey revealed around one-third of WSBOs plan to delay or eliminate raises in the next one-to-two years.

In terms of overall sentiment about the economy, 74 percent of the 202 WSBOs surveyed expect their businesses to be negatively impacted in 2012, and 34 percent expect sales and revenue to decline.

When it came to benefits, only 14 percent of WSBOs offered workers a 401(k) or other employee-funded retirement plans, while just 5 percent offered a company-funded plan.

"Women small business owners, like most of the small business owners we surveyed, may find it hard to invest in new benefits for their employees when they are unsure about the direction of the economy and how it will affect their business," said Anne Arvia, president of Nationwide Retirement Plans.

The problem, it seems, is that many (69 percent) feel their businesses are too small to offer such plans, while more than half (53 percent) feel it would be too expensive.

A separate study from financial services education provide The American College revealed that about 61 percent of WSBOs prefer to speak to financial advisors of the same gender.

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