According to the most recent research, women make better entrepreneurs than men. This is as a result of many traits and characters owned by women which men do not have. Despite the fact that most startups are founded by men, the ones started by females have very much succeeded as compared to those started by men.
The following are some of the facts proving women as better entrepreneurs than men:
1. Women are better calculated risk takers
Research shows 87% of women see themselves as financial risk takers, compared to 73% of men. And while 80% of women say they are likely to see opportunities where others see risk, 67% of men say otherwise. Moreover, while these female entrepreneurs are embracing risk, they’re also more likely to be tempering their business approach with a realistic assessment of the dangers ahead – for example, four times as many women as men suggest that from a personal finance perspective, now is a bad time to take on risk.
2. Women are less prone to self-confidence
While 70% of men are confident their business will succeed, 40% of women feel that way. This makes men reluctant when it comes to “saving for rainy days”, Unlike women who are much aware of the 50-50 chance of their business succeeding or failing, thus coming up with better strategies of avoiding business failure.
3. Women are more likely to invest on long term business ideas
While 47% of women would invest in business ideas that can take up to 6 six years for the business to grow and sustain itself, 30% of men would invest in such long term ideas. Research shows majority of men would rather start a business which will start generating profits as soon as possible.
4. Women face more barriers than men, yet, they succeed more than some men.
Research shows 4 in every 5 women in Kenya work in totally different fields from what they studied in school, unlike their male counterparts, where 3 in every 5 men are practicing different fields from what they studied in school. Women have to learn fast and adapt in their new fields to match their colleagues who are specialized in such fields.
5. Women are more ambitious
Most women especially those working in government offices are most likely start their own business 3 years after being employed besides their government jobs. Unlike their male counterparts who can take up to 6 years before deciding to start a new business in order to earn extra income.