Female entrepreneurs 'more successful than men'
Female entrepreneurs are more likely to succeed in their business endeavours, according to new research by YouGov and Kleinwort Benson.
The survey of 500 business leaders found that only 11% of female respondents failed to set up a successful business, compared with 17% of men.
Despite being more likely to succeed, the research suggested that women have to overcome more obstacles and experience a higher degree of self-doubt than male entrepreneurs.
The key survey findings were:
- 40% of the women surveyed said they experienced a fear of failing to set up a business, compared with 36% of men.
- Entrepreneurs aged over 55 were the least likely to fear failure (34%) and the least likely to face obstacles (32%).
- More small business owners in the Midlands and Wales have failed to set up a successful business (18%) than in London, southern England and Scotland (all 14%).
Paul Bentley, head of entrepreneurs at Kleinwort Benson, said: "In our experience, female entrepreneurs tend to be more risk averse and position themselves better to create long-term value. This is beneficial in two ways. Firstly they often avoid the pitfalls that befall early stage businesses. Secondly, their businesses will have demonstrated a more consistent track record and they will be more attractive to potential acquirers."
"Overall, we can see that women are increasingly embracing entrepreneurship and are successfully overcoming obstacles, such as funding, late payments and generating sales, to become models of entrepreneurial growth."
Source: Kleinwort Benson