In a report by Global Entrepreneurship Monitor report 2016/2017, more women are venturing in to entrepreneurship to close the market gap and also meet their financial needs. This was because entrepreneurship is a better alternative when it comes to income generation especially in regions where there are low job opportunities. More than half of the women in the region indicated that they wanted to start a business in the next three years. However, the rate of women exciting businesses exceeds those of men by around 10%.
About 75%of businesses are male owned. This may mean that men are generally more successful than their female counterparts. But according to a new report by fitsmallbusiness.com. in reality women are more effective as hey create more jobs and have a large growth appetite. The following list indicates the reasons why women are better entrepreneurs.
- Firms owned by females generate high revenues
- They create more jobs compared to male owned
- They have a larger growth appetite
- Women exec’s improve startup company performance by far
- They are more effective in senior management roles
When it comes to crowdfunding, women experience a higher success rate. This is because women tend to apply a different approach to crowdfunding compared to the traditional methods of crowdfunding. Although a majority of those participating in crowdfunding were male females enjoy a success rate of 57%