The Differences Between Female and Male Entrepreneurs

Small business women are strongly advised to contrast the different avenues that women and men use to attain revenue, gain access to capital, and manage employee and company growth and the direction they choose.

Isolating the many differences is not an indication that one feature or business plan is better than another. Examining and contrasting the different methods employed by men and women may be of benefit to one another.

A survey of 602 female and 592 male business owners, was carried out by the National Foundation for Business owners. The study found that 52% of the males who own quickly expanding firms have commercial bank loans, while comparable female owners came in at just 39%.

While around 32% of the owners who are female bankrolled their firms using a personal credit card, the men using credit cards to fund their companies numbered at only 21%.

One of the observations made by the study was that female business owners are being hampered by their dependence on personal debt. Women with knowledge of debt leveraging skills are more likely to attain business ownership in less time.

Female business owners know that they have many things that they should focus their efforts on. Knowing where to find capital for the future growth and health of your business is particularly important. Female entrepreneurs, in particular, are being targeted by an increasing number of funding sources. Women Must Be Well Prepared and Have a Firm Plan

It is difficult to get funding for a business plan prepared by a woman. The situation is improving with the emergence of new organizations that support female business owners, such as The ADA Project for Women, The Women’s Funding Network, The Ladies Club 2000, Count-Me-In, One Women’s Finance and many others.

Venture capital funded business plans numbering more than six hundred for female owned businesses, and the Small Business Administration (SBA) funded thousands more following submission.

The numbers sound impressive, and they are. The reality of the situation is that fewer than 10% of the total business plans submitted were funded. Considering the much improved business climate for female entrepreneurs, they still receive just around seven percent of business investments by venture capitalists.

Although female entrepreneurs are starting twice as many business ventures as their male counterparts, it seems to make little difference. Women looking for venture capital should enhance their opportunities with the following:

# Clearly establish the reasons your business plan has a greater probability of success.

# Establish yourself as a corporate professional with the associated status.

# Set up your own review board

Be advised of the commercial sectors and geographic locations where women have been most successful: (This information can be difficult or impossible to get!)

# A project in its early stages

# With a Northeastern or Western location

# In health care, computer software/hardware, or in communication areas

Do not let yourself get discouraged; there are many opportunities for funding available, so keep searching. Realize your dreams for your own business by continuing the search for funding, regardless of the statistical data.

The Law of Attraction is an axiom you should gain familiarity with. It is amazing how our destinies can be controlled by our minds. Don’t let anyone tell you “no”, especially yourself.