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. Continue reading