Characteristics of Entrepreneurial Women Business Owners
According To The Women Presidents' Organization For Women Whose Businesses Annually Gross Over $2 Million
- About 43 percent of all women-owned businesses have revenue of $10,000 or less per year.
- Over 70 percent have revenue of less than $50,000.
- Only 3 percent have revenue of over $1 million (compared with 6% of men-owned businesses).
According To the 2007 Survey of Women Business Owners
- 68% of women business owners are married (compared with the national data for working women indicating that 53% are married).
- 67% have children
- 40% of women business owners have had post-graduate education (compared with 25% for women professionals and 9% of entire female labor force).
- 56% receive their business funding from family and friends
Top 5 Motivators to Become an Entrepreneur
- Desire to be your own boss and have more flexibility.
- To make an idea succeed.
- In order to achieve a better balance between life and work.
- To become wealthy.
- As a means of leaving Corporate America.
Top 3 Long-Term Goals for Women Business Owners
- To generate enough income to provide for a comfortable life.
- To build a business and sell it to make enough money for retirement.
- To build a business to pass on to future generations.
According To the Center for Women’s Business Research
- 66% of women business owners are willing to take above average or substantial risks for business investments.
- 81% of women-owned businesses are without employees.
- Women business owners are nearly twice as likely as men business owners to intend to pass their business on to a daughter or daughters (37% vs. 19%).
- Women business owners are as likely as men business owners to be willing to adopt new technology and more likely (24% vs. 18%) than women in general.
- Women and men business owners have different management styles: Women are less hierarchical, emphasize relationship building as well as fact gathering, may take more time when making decisions, seek more information, and are more likely to draw upon input from others than men.
- The workforces of women-owned businesses show more gender equity: Women business owners overall employ a balanced workforce (52% women, 48% men), while men business owners employ 38% women and 62% men, on average.
- Women-owned family businesses are 1.7 times more productive than men-owned family businesses because they are willing to make do for less. They also experience greater family loyalty to the business, greater agreement with its goals, and pride in the business. Women-owned family businesses have a 40% lower rate of family member attrition than men-owned family businesses.