Women-owned businesses continue to prosper

While the ongoing recession is wreaking havoc on the cash flow cycle of many small businesses, some women-owned businesses are seeing success and giving back to worthy causes.

Wells Fargo, a financial services company, and the National Association of Women Business Owners (NAWBO) together have recognized a number of small businesses with women at the helm for their achievements.

Dubbed the Trailblazer Award, the two groups have handed out $5,000 cash prizes to winners that include Minnesota-based Hope Chest for Breast Cancer, a store that sells donated upscale furniture and designer clothing with a portion of earnings going to breast cancer research and Texas-based Warrior group that provides construction management services.

"It is inspiring to see women business owners continuing to prosper throughout the country," said Helen Han, NAWBO executive director. "This is the eighth year that we have presented this award and every year, we are impressed by the fortitude and drive of our applicants."

Cash awards like this will likely help the winners keep their businesses on track for long-term success. Some small businesses have stumbled during the recession as lending standards grew increasingly strict and credit markets froze.