Female Owned Businesses Responsible for Job Creation in the U.S…
Similar story in Australia too I suspect, and here’s why…
Tandelyn A. Weaver, owner of PersonalFreedomForWomen.com shares some interesting insights.
Divorced or single mothers who undergo traumatic experiences in life have been an impetus for 30% of female business owners to embark on their entrepreneurial ventures.
A report published by The Guardian Life Small Business Research Institute projects that female-owned small business, now just 16% of total U.S. employment, will be responsible for creating one-third of the 15.3 million new jobs anticipated by the Bureau of Labor Statistics by 2018 (Forbes.com January, 2010).
Social factors have resulted in the growth of female owned businesses. Where motherhood results in delays of starting their own businesses, it is also the reason for women owned business growth.
It is also believed that businesses owned by women start small and go through steady growth. The first three year survival rate of female owned businesses is 72.25%. The reasons for high survival rates of female owned businesses lies in the natural and to some extent learned disposition of females to run and manage a business successfully. For example, it is said that patience is the key to any successful entrepreneurial venture. Women are known to be naturally patient and flexible to change.
Family businesses have also been a successful place to help business growth. These family businesses have inspired women to start a business of their own and helped build in them skills which are necessary for managing a business. A study conducted in the mid 90’s showed nearly 78% of female business owners had some form of family business connections in their past. Women entrepreneurs are more likely to start a business for achievement of personal goals like accomplishments and recognition and the need to support their families.It is inspiring to know that women are helping create jobs in United States and around the world…continue
