Female entrepreneurs have higher business success rate than men » SMEInsider

Female entrepreneurs have higher business success rate than men

Despite having to overcome more obstacles and possessing a greater fear of failure, female entrepreneurs are more likely to own a sustainable and successful business than their male counterparts.

In association with YouGov, private banking group Kleinwort Benson quizzed 500 business owners on the success of their firm.

The report found that only  11 per cent of the female business owners questioned failed to set up a successful business, compared to 17 per cent of men.

Female business leaders have to be commended for their ability to maintain a successful SME, as 40 per cent of female respondents confessed to possessing a fear of failing in business, compared to 36 per cent of men. Almost half (42 per cent) of women also said that they had to overcome major obstacles, compared to 32 per cent of men questioned.

Paul Bentley, head of entrepreneurs at Kleinwort Benson was not surprised by the report’s findings.

‘‘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.’’

Kleinwort Benson specialise in providing entrepreneurs with vital funding, and claim to have seen a 30 per cent rise in the number of female clients over the last two years.

‘‘Our new female clients are from a wide range of industries but we are seeing significant number from technology and property, which is borne out by the research,’’ added Bentley.

‘‘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.’’