Women vs men: female entrepreneurs face better chance of succeeding← Back
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Are you a female entrepreneur? Have you set up your own business? If so, you might have higher chances of succeeding with your company than your male counterparts. A new report commissioned by private banking company Kleinwort Benson reveals that, as a general rule, women are more successful than male entrepreneurs.
YouGov carried out the study in July this year, with a total of 500 participants taking part. Of these, it emerged that only 11% of women acknowledged to have failed in setting up a business compared to 17% of men.
42% of women said that, as entrepreneurs, they had had to deal with obstacles – this was only true for 32% of men. Further figures revealed 40% of female participants admitted that they were afraid of failing – in contrast, this sentiment was only prevalent amongst 36% of men. This difference in attitude could well be the reason women entrepreneurs do better. In fact, Paul Bentley, head of entrepreneurs at Kleinwort Benson, commented on the findings saying: “In our experience, female entrepreneurs tend to be more risk averse and position themselves better to create long-term value.” He added that as a result, women were more careful to avoid the difficulties faced by young businesses, and that, ultimately, they lay claim to “a more consistent track record” which makes them more appealing to investors.
Not only do women stand a better chance than men, but the numbers of women entrepreneurs is on the rise. Kleinwort Benson revealed that it has seen a 30% rise in the number of female entrepreneurs over the course of the past two years. In the face of these figures we’re delighted that women are taking hold of their careers by setting their own businesses and that they are becoming less afraid of facing the challenges of entrepreneurship.