FILTER: BUSINESS & ENTREPRENEURSHIP

TAKEAWAY

Women-owned businesses are on the rise, especially in New York.

SOURCE: “The American Express OPEN State of Women-Owned Businesses Report,” openforum.com/women

According to American Express OPEN, AmEx’s small-business credit card division, there are some 8.3 million female-owned businesses in the U.S., up 54 percent in the past 15 years. These firms generate nearly $1.3 trillion in revenues and employ 7.7 million people.

With more than 2.3 million between them, California, Texas and New York have the largest numbers of women-owned companies — no surprise, as they’re the largest state economies in the country. But the state with the biggest amount of growth in female ownership has been Georgia, which has seen its number of women-owned businesses jump 95 percent since 1997. The state with the lowest growth in women-owned businesses? At 11 percent, Alaska.

TAKEAWAY

Where’s the most expensive city for renting office space? Look east — far east.

SOURCE: Knight Frank, knightfrank.com

Hong Kong has replaced London’s West End as the home of the world’s most expensive office space; rents there reached an average $150.09 per square foot last year, up 28 percent from 2010. The biggest jump for any city came in Beijing, whose office rents soared 46 percent, moving the Chinese city up 29 places to 19th on the list. Both cities are expected to see double-digit increases again in 2012. Other cities in the top 10 include Paris, Singapore, Geneva and Sydney. The hottest spots in the U.S. were Manhattan ($64.36 per square foot) and San Francisco ($37.75).

TAKEAWAY

Bosses, take note: The more time you spend out of the office, the more employee productivity suffers.

SOURCE: “Does It Matter Where Your Manager Works?” by Timothy D. Golden and Allan Fromen, Human Relations, November 2011, hum.sagepub.com

Golden and Fromen surveyed 11,000 employees from a Fortune 500 company and asked what their and their manager’s work mode was: traditional (in the office full time), partially virtual (spending a consistent portion of the week working out of the office) or fully virtual. The authors found that traditional employees with partially or fully virtual managers were frustrated about feedback, professional development, workload, job satisfaction, turnover intentions and work climate. Why? “Face-to-face interactions are necessary for trust development,” Golden says. “Who are you going to trust more, someone you only email with or someone you personally interact with each day?”

TAKEAWAY

American companies are optimistic about hiring.

SOURCE: Manpower Group, manpowergroup.com; Right Management, right.com

According to surveys done by the Manpower Group, a corporate consulting firm, and its talent and career division, Right Management, one in three U.S. companies is expecting growth and increased hiring for the rest of 2012 — up from one in five companies a year ago. Only 11 percent of the senior executives from 631 organizations surveyed expected continued layoffs and restructurings. “Organizations are becoming more positive about the economy and their own businesses,” says Bram Lowsky, Group EVP Americas for Right Management.

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