I have not been as regular a blogger as I would like – but it has been for a great reason. I am currently a Doctoral candidate specializing in Technology Entrepreneurship. My Doctoral topic focuses on strategies to assist women – minority women to obtain venture capital financing. However, the hundreds of articles and research studies I have read and analyzed thus far have provided me with significant knowledge on women and entrepreneurship in general. I intend to pass along my knowledge to you and provide you strategies and lessons so that you and I can be rockstars in our entrepreneurial journeys.
The Good News
Women are opening an increasing number of ventures. The percentage of women opening new businesses outpaces that of men. Women are taking the entrepreneurial leap and taking the risks to create their own wealth.
The Not So Good News
- Women led businesses are smaller than those owned by men. The reason for this is complex but much of it relates to access and preference to financing, and the motivations for entering into entrepreneurship.
- Women open their businesses with significantly less capital than men. The hundreds of research articles on female entrepreneurship mostly converge around the conclusion that women’s businesses are under capitalized and such often are less profitable. Once again there a myriad of reasons for this but one of the core reasons found by researchers in this stream of literature is the barriers faced by women when attempting to access financing.
- Women do not often open businesses in high-growth sectors. The majority of women’s businesses are in service industries and not in high growth industries like technology, bio-technology, and energy. The latter sectors serve millions and are growing exponentially, creating wealth for those who enter those industries at significantly greater rate than low growth industries.
What is to be Done?
There are solutions some already known and others we can formulate as we learn more. I want to help you learn more and in the knowing we can grow together. Do share and follow.