Profile of Women Entrepreneurs

28 09 2007

A new survey sponsored by RSM McGladrey and the National Association of Women Business Owners in the United States has created a profile of today’s average woman entrepreneur. The 2007 Survey of Women Business Owners found that women entrepreneurs are more educated: 40% of them have a post-graduate education, compared to 9 percent of the entire female labor force. Here are other key findings from the survey:

  • They take more risks. Sixty percent of women surveyed would use up to 95 percent of their personal savings or put up their home as collateral for a loan to start or expand their business.

  • They have been successful for a while. More than 60 percent of the businesses surveyed have been in operation six or more years, higher than the 40 percent reported through other surveys for all businesses.

  • They started young. Forty percent of businesses with more than $6 million in revenue were started by women between the ages of 20 and 29.

  • They can get financed. Less than 6 percent have gone to a bank and never been able to receive financing.

  • They have a family life and run a business. Sixty-eight percent are married, higher than the national average of 53 percent for working women. And 67 percent of those surveyed have children.

 Higher education is highly correlated to entrepreneurship. Overall, the women surveyed have more education than female professionals as well as the female civilian labor force nationally. More than 40% of the women surveyed have post-graduate education, whereas national statistics indicate that only 25% of female professionals have post-graduate degrees and only 9% of the entire female labor force has such degrees. The survey sample size was 650 women in 35 states




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