Do Women Build Better Businesses?

Do Women Build Better Businesses?

Quick: When you hear the phrase "successful entrepreneur," what do you picture?

If you're like most people, you probably conjured up something along the lines of a young man in a hoodie.

But according to a new global survey, that caricature might be mostly inaccurate. In fact, the report found that female entrepreneurs typically launch more companies than males—and reap more revenue.

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While women in the survey—who made up about 37% of the more than 2,500 entrepreneurs studied—started an average of about five companies, men launched 4.3. What's more, females also sported higher earnings, with an average of $9.1 million in annual sales compared to men's $8.4 million.

The study found other noticeable gender differences, as well. For example, while women wait until around age 30.5 to make entrepreneurial decisions, men start slightly earlier, at 29.9, and they tend to take less time to launch those ventures (20 months, versus women's 21 months.)

Further, women seem more likely to fit a characteristic common to most successful entrepreneurs: family history. 62% of females hail from a clan with a background in running businesses, but just 59% of males do.

Intrigued by the idea of venturing out on your own? Read up on why one business pro believes everyone needs to channel their inner entrepreneur in today's world.

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