Starting a business on your own is not easy. From marketing your brand to balancing your books, it takes time and effort to get everything right.
According to Muntasir alam and Dr. Dilani Jayawarna of the University of Liverpool’s Management School, women entrepreneurs seem to be able to handle these and other business challenges well.
The study compared men and women working in the same business size, with the same health status, and in the exact same market conditions.
It was revealed that 16.3 percent of women business owners leave their businesses each year, compared with a higher number of 18.6 percent of male business owner.
Mr Alam, who presented the findings of the British Academy of Management annual conference in Birmingham and revealed some of the possible reasons behind this gap, said: “The analysis found running a business from home allows women flexibility and being the secondary breadwinner means their business is subsidised by their partners or husbands.”
Despite the positive research, The Rose Review of Female Entrepreneurship reveals that only one third of UK entrepreneurs are female and that female-led companies are on average only 44 percent the size of male led businesses.
The report also stated that more should be done to help female entrepreneurs in the UK because of the following evidence:
The UK has fewer women entrepreneurs than other countries that follow best practices.
In recent years, the ratio of female entrepreneurs to males in the UK has decreased.
Women in the UK are less likely to start a business than men, and less likely to expand their business if one is started.
Women entrepreneurs are underrepresented among the most productive sectors in the UK economy
To help achieve this goal, the Treasury published the Investing Women Code in early this year.
‘A commitment to supporting the advancement of female entrepreneurs in the United Kingdom, by improving their access to tools and resources from the financial services industry.’
