Why Women Business Owners Feel More Successful
They say men are from Mars and women... well, you know. According to a new survey, the genders' differing natures play out in the world of entrepreneurship, too, with women feeling more confident in their success than men.
The Hartford Financial Services Group's survey of 1,004 small business owners included 271 women and 733 men. More than 90 percent of the women entrepreneurs viewed their business as a success. Only 80 percent of men felt the same way.
What factors contribute to women's confidence? Here are some clues from the survey's findings:
- More risk-averse. About 55 percent of the women viewed themselves as conservative in taking risks in their business, compared with 47 percent of men. Also, 80 percent of women responded that they did not think taking more risks would make them more successful.
- Not blaming the economy. While women were less optimistic about the economic situation than men, they weren't focused on the economy as their biggest problem. Instead, they cited the increased cost of doing business as their top problem, followed by government red tape. Only 21 percent said lack of demand or customers was their top concern.
- Voting to help their business. More women than men said they would vote a pro-business slate of candidates in November -- 89 percent of women vs. 79 percent of males. Perhaps their increased level of empowerment at the ballot box makes them feel more confident they'll have a business climate they like.
That aside, I have my own gut feeling about why more women are happy with their business: our expectations may be lower. Fewer women go into business with dreams of building an empire. Women I know consider their business a success if they can be their own boss and replace their former job income.
One thing is for sure – more women are growing their businesses. Sort of nice to know they feel great about doing it, too.
Why do you think women business owners feel more successful? Leave a comment and share your view.
For reprints and licensing questions, click here.