Are you a woman in the auto industry? Do you need an automotive merchant account for your business? How can you get a reliable and affordable merchant account for your automotive business? Just read this article and you’ll know.
Women in Auto Industry
The World Economic Forum reports that organizations that have women in senior positions globally outperform others by 34% in profit terms.
Women influence over 85% of all car sales. As for the industry itself, females only make up nearly a quarter of all employees. According to studies, 90% of women who entered auto sales leave within the first year.
Women in the US:
- Purchase or affect 83% of all consumer purchases
- Impact over 80% of all car sales
- Purchase 65% of all new cars
- Purchase 45% of all light trucks and SUVs
Women represent nearly 19% of US dealership employees. The majority of them supports staff, as the estimates from the National Automobile Dealers Association report. Men own and operate 95% of the 20.000 dealerships in the US. It’s high time more women stepped into the field.
Getting an Automotive Merchant Account
Lots of people feel intimidated because the auto industry is a male-dominated field. According to over 60% of female dealership employees surveyed by CDK (the leading provider of IT and digital marketing solutions to the automotive retail industry), their companies did nothing to help recruit more women. If you’re planning to start your auto business and need business financing, it’s important to turn to a reliable and experienced alternative online lender. With a reputable business funding provider, you can get easily approved for an automotive merchant account for your auto business.
With a respectable business funding provider, you can get approved for a business loan without challenges. Moreover, you can enjoy the lowest-possible rates in the industry and the best terms in the field.
By the way, General Motors is working on increasing the number of women owning Chevrolet, Buick, GMC and Cadillac franchises from 243 stores, or 5.5% of its dealer network, as Jim Cain, a spokesman for the automaker says.
Author Bio: As an account executive, Michael Hollis has funded millions by using alternative funding solutions and offered them a reliable automotive merchant account. His experience and extensive knowledge of the industry has become a true asset for First American Merchant.