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Minted.com CEO Mariam Naficy on the increase in sales and hiring that is boosting the outlook of small business owners.
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-- showing small business is leading the way and hiring during the month of October expanding payrolls by a healthy 58000 worker.
And what a fortune magazine -- top ten most powerful women entrepreneurs says her optimism for America's budding young companies.
Has never been higher so we're bringing -- -- FEC is CEO of -- that dot com and this is great to hear because really we've talked so much here on Fox Business from the very start of the financial crisis about how small business owner.
Is really the driver of employment here why are you so optimistic Shirley arcing something good from your customers and.
Clients.
Yes plummeted is despite all the news about the economy is actually -- quite substantially -- share which makes us bullish.
We serve the mass affluent female consumer as a woman in her thirties and forties with children -- fine holiday cards Hamas and other stationary.
And -- business actually quite far up above last year.
Which makes us bullish.
And we're seeing a lot of a lot of hiring in in the Internet space in the Bay Area -- -- -- -- area.
But the which make us very bullish.
Well that's wonderful -- particularly when you listen to web mr.
Bernanke today saying that in fact unemployment was not gonna improve much over the next couple of years.
But not only are you hiring but I understand your having difficulty.
Finding the workers to fill the bill particularly in computer science right.
That's rate engineering we probably hire that is a 31 ratio for us in terms of the number of people were looking for the number people we can actually higher.
And I would say it's tough across the board for any of the local Bay Area Internet Internet consumer Internet businesses to hire cross marketing product management engineering.
Actually really any of the functions it's very hard to find good people bailout went on your website minted dot com and and looking at the stationary and the price points in the quality of -- what is a big seller right now people spending this kind of money on these things.
Actually yes so you know you think that our sales would go down our people would trade down that we are premium holiday card in this stationery company we crowd source are designed from the community of independent designers all over the US.
And actually we're finding that our holiday card -- the average transaction size is up 15%.
Year every year.
So not only is our growing our business going substantially terms of the amount of people coming to the site and buying.
But the actual average transaction size is up 15% -- people are not trading down.
-- lives if computer engineers are watching you say gee that's a company I'd like to be apart -- How they get in touch -- it.
They can go to -- to dot com slash jobs.
Hey haven't I got slashed jobs sides is specifically for people to hire right yes.
That's correct that's correct trying engineering and marketing and a number of different areas.
And I think the other the other thing that we're doing is for sourcing -- from independent designers who can enter our our challenges and -- to earn money from working with meant -- so if you're an artist.
Out there who wants to -- our design competitions it's open to everyone that is how we source.
Are very fresh designs that actually drive our business -- There's blame to go around everywhere when it comes to the economy right now but how do you think the president's -- you think that -- the administration is doing the right things ticking the right steps -- could more be done.
I think that I think that that focusing on education is there is a critical components for driving at least what we see in the -- Area which is do we have the right people to be able to hire.
Do we do we have are we providing education people who are budding entrepreneurs so from where I say it I see more a fundamental issue that these -- -- congress is really education.
Education that produces the kinds of people we want to hire.
In engineering in math and science very very important.
As well as education forum would be the would be mark Tucker bricks of the world is someone out there right now who's eight years old who needs.
He needs information education to gets to this point where you can create these jobs.
70%.
Of all American Ph.D.s in computer science or given to foreigners not Americans -- -- that says at all 70%.
So I mentioned we've got to turn those figures around before we get the economy -- company again thank you very much good to see a -- appreciate thank you.
