Do women take more business risks than men? The more than 400 women business owners surveyed were asked to determine whether they would take substantial or above average risks in regards to their business. Almost one of every four surveyed (21 percent) said they were willing to take substantial financial risks expecting substantial returns when saving or investing for their business, while forty-five percent were willing to take above average financial risks expecting above average returns. "This report shows that, contrary to common belief, women business owners are indeed willing to take financial risks in order to expand their businesses," said Marjorie Alfus, Chair, Center for Women's Business Research. "In fact, two thirds of the women in this study were willing to take above average or substantial risks to achieve their growth goals. The success of their risk taking is documented in the dynamic growth rates - employment by women-owned businesses expanding at twice the rate of all businesses (24 percent vs. 12 percent) and revenues growing 17 percent faster than all businesses." However, risk-taking among women business owners looking to expand their businesses is significantly higher than women business owners not looking to expand. This is particularly true of women business owners who seek external capital to expand their business and of those who had successfully sought this type of funding in the past. Twenty-five percent of expansion-oriented business owners are willing to take substantial financial risks and an additional fifty-one percent are willing to take above average risks. Risk-taking was consistent among all types of women-owned businesses in the study, regardless of company size, age of business, or personal characteristics of the business owner (age, education, ethnicity, etc.). www.womensbusinessresearch.org
•Date: 29th July 2005 • Region: US• Type:
Article •Topic: BC general |
