Beyoncé knew what she was talking about when she said, “Who run the world? GIRLS!”
After what seems like endless years of every news source highlighting, “Women are getting paid less then men,” “Men are more likely to succeed in the workplace,” it’s time to highlight the other side of the story. The real side, the side we all want to hear is, (ok, we’re being a litttlee biased here)…Why women are more likely to become entrepreneurs?
It’s true girls! and nothing better than the studies done to support what we’re saying. So let us empower you with the news we have. In a study by the University of Stirling and Royal Holloway, University of London, found that an increase of £1,000 extra money in the bank raises the probability of a single woman starting her own business. Yes, you read that correctly, research has found that when both men and women are faced with an increase in wealth, it is more likely for women to go out and invest in a new business. Not just that, during the period of 2009 to 2014, Labor Force Surveys showed that there was an increase in self-employed men by six percent, as opposed to 22 percent self-employed women. So, not only are women investing more in setting up their own businesses, they’re also increasingly becoming their own bosses too.
That’s not it yet, we have more!
In another research done by private bank Kleinwort Benson, also found that female business founders are more likely to set up a successful business than men. They surveyed 500 business leaders and concluded that while females are more likely to succeed, 11 percent noted having failed to set up a successful business in comparison to 17 percent of men. Kleinwort Benson also noted a staggering 30 percent rise in the number of female entrepreneur clients over the past two years.
The head of entrepreneurs at Kleinwort Benson, Paul Bentley, noted that women were successfully overcoming obstacles, “Such as funding, late payments and generating sales, to become models of entrepreneurial growth.” Bentley said those entrepreneurs encountered by Kleinwort Bank tended to be, “more risk averse and position themselves better to create long-term value.”
So, the next time you hear someone calling women “emotionally-driven,” remember that’s this emotional drive is our strength and not our weakness. It has made us the gender more likely to start a successful business, avoid most drawbacks that any new business faces, and set a reliable record for themselves.
Ladies, the odds are in our favor for a change…today we are the risk takers, the business makers!
For the woman entrepreneurs in you, there has never been a better time to start a business.
Time to stop saying “We can do it” and acknowledge that we are doing it!