When it comes to technology, women owners of large and small firms are clear about what they want.   A new study conducted by the Center for Women’s Business Research and commissioned by IBM, found that women business owners’ top concern about technology is security and over three-quarters are looking for reliable technology solutions that can help them increase the efficiencies in their businesses.

Female business owners spend $38 billion annually on IT products and services.   More than seven out of 10 of the women-owned businesses surveyed use technology to make their businesses more profitable and innovative, to improve quality, and better manage their business resources.

 “The vast majority (83%) of women business owners are personally involved in selecting and purchasing technology for their businesses,” said Margaret A. Smith, chair, Center for Women’s Business Research.   “Contrary to common perception, women business owners are as likely as men business owners to be willing to adopt new technology and more likely (24% vs. 18%) than all women. 

Other report findings include:

Security and safety were among the top technology concerns of women business owners.  They were concerned about the security of internet transactions, the impact of disasters on technology, general system failure, computer viruses, and the accuracy of online information.  Despite these concerns, less than a quarter (23%) had a plan in place to deal with these concerns.

Women business owners use technology not just to accomplish tasks but also to create integrated business solutions. More than two-thirds of women business owners indicated that they use technology to solve problems related to accounting and financial management, sales, marketing, and customer services.

Nine in ten (93%) women business owners surveyed are using e-commerce.  They use the Internet to buy goods and services, seek business opportunities, sell goods or services on hosted sales sites, submit bids for business or perform such business administration tasks as recruiting employees or hosting web-based meetings.

Women business owners depend on a variety of advisors to make decisions about technology and acquiring technology services.  Top of the list are family and friends (74%) and more than two-thirds (68%) seek service support from representatives of a computer manufacturer, vendor or reseller. Another 44% seek it from specialized technology firms or consultants.

“IBM was one of the first companies to realize the tremendous rate at which women-owned businesses were growing and the opportunities that growth presented for exploring how we could do business together,” said Marilyn Johnson, Vice President, IBM Market Development. “It is important to us that we have a clear understanding of women business owners’ needs and concerns, and commissioning this study is part of the IBM commitment to bring relevant affordable solutions to this market.”

“The Center for Women’s Business Research, together with IBM, has been tracking women business owners’ use of technology for more than ten years,” said Sharon Hadary, executive director, Center for Women’s Business Research.  “Women business owners consistently have been leaders in embracing technology as a key part of their business plan and were early adopters of e-commerce.”

The full report, Solutions and Sophistication, Comparing Women and Men Business Owners’ Use of Technology, is available from the Center for Women’s Business Research for $90