Many women aren’t considering entrepreneurship as an option at all: Only one in 13 women are looking at starting a business in the next five years, vs. one in five men.
Women entrepreneurs start their businesses with median startup cash of $8,000, compared to $30,000 for men. Interestingly, most of the funding used by the entrepreneurs in this survey came from their own savings, friends and family–but men were more likely to get business loans. Lack of funding was the number one cause of business failure cited by entrepreneurs in the survey, so this is a real problem. Women in the survey had a 5.3% rate of discontinuing their businesses, vs. 3.6% for men.
“It’s important that you start each day fresh, dynamic and upbeat, trying to serve your client base and prospective clients.” claims Gloria Shulman “You have to have to have that positive energy going. You have to have a love for your business, no matter what it is.”
Entrepreneurship “does not fit everyone’s palate,” as she wisely notes. But for those who have high energy and are resilient, she says, “I think there are many opportunities for people who want to start a company.”
With greater numbers of Americans starting businesses, perhaps more women will have an opportunity to learn from those who are succeeding–paving the way for more entrepreneurs like Gloria Shulman in the future.
* Credit Elaine Pofeldt as posted in Forbes’