Intriguing Facts About Female Entrepreneurs
Female entrepreneurs are taking the business world by storm, one extraordinary accomplishment at a time. Fifty years ago, the thought of a female entrepreneur heading up her own company would have seemed laughable or ambitious. Today, female entrepreneurs are starting and leading their own companies in record numbers.
Female founders are redefining the media industry, revamping the world of technology, and inventing the next big thing. They are breaking through the proverbial glass ceiling.
Whether they choose to be a stay-at-home mum, CEO of a Fortune 500 company, or a small business owner, women today have a variety of options. Here are 5 facts that make female founders successful.
1. Female Entrepreneurs Rank Higher In Elements Of Leadership
Photo by CoWomen on Unsplash
Female entrepreneurs have demonstrated that they excel in leadership roles. In a study conducted by the Harvard Business Review ranks them higher than their male counterparts on several significant leadership elements.
The study found that at every level that women were rated - by their peers, bosses, direct reports, and other associates - they were better overall leaders than their male counterparts. Two traits where women outscored men to the highest degree – taking initiative and driving for results – have always been thought of as particularly male strengths."
Women are leading the companies to excellence and not just working in entrepreneurial roles.
2. Female Entrepreneurs Have More Opportunities Now
Photo by CoWomen on Unsplash
Even though it may be more challenging to secure Venture Capital, female entrepreneurs prove that they are more successful than male startups.
By 2016, market conditions, access to varied business opportunities, and female entrepreneurs’ readiness to jump into owning businesses created a winning trifecta. Carla Harris, NWBC’s chair, said, “Record levels of cash are on the sidelines with both institutional and individual investors and on corporate balance sheets.” These entities are looking for good ideas and are willing to take more risks.
The future looks bright for female entrepreneurs. The sky's the limit for these ground-breaking women.
3. Female Entrepreneurs Rank Higher Life Satisfaction Than Other Women
Photo by Brooke Lark on Unsplash
According to Inc., “Women entrepreneurs in the United States rank their happiness at nearly three times that of women who are not entrepreneurs or established business owners.”
Who knew that running your own business may be the key to happiness. It is also a great way to create financial stability.
4. Most of the Richest Businesswomen in the US Founded Their Own Companies
Photo by Kelly Sikkema on Unsplash
88% of the women who topped Forbes America’s 50 Richest Self Made Women list created and founded their own companies. In fact, many of the wealthiest female entrepreneurs created their own wealth. Their ages, ranging from 21 to 92, were as diverse as their products.
The 2019 Forbes List measured in net worth:
- Diane Hendricks
- Meg Whitman
- Marian Ilitch
- Judy Faulkner
- Thai Lee
- Judy Love
- Lynda Resnick
- Doris Fisher
- Johnelle Hunt
- Oprah Winfrey
5. Women-Led Companies Create More Jobs
Photo by You X Ventures on Unsplash
According to research in 2016, female entrepreneurs underpaid themselves but out-performed their male peers when it came to hiring. EY Global vice chair Uschi Schreiber noted that women entrepreneurs were fast becoming leading job creators.
"This is extremely encouraging as entrepreneurship has long been a route to employment and business success for many women despite the enduring gender gap."
A 2015 study by Womenable and American Express showed 340,000 jobs were added by women-owned businesses between 2007 and 2015, while men-owned companies shed 1.2 million jobs during this time. These are impressive accomplishments for female entrepreneurs.