Guys – Please close your eyes for a moment or move onto my next blog entry ‘cause you won’t like this one at all!

Women make better Businessmen – oops- entrepreneurs!

Some interesting stats from the Women’s Enterprise Center in Vancouver.

  • Women own and operate 35 per cent of small businesses in B.C. or almost 137,000 businesses, which is higher than the national average of just under 34%.
  • The number is expected to double over the next decade. In ten years, it is estimated that 264,000 B.C. women will own and operate businesses.
  • There are more than 821,000 women entrepreneurs in Canada.
  • Women in Canada make up a larger share of the self-employed than in any other country.
  • Women contribute in excess of $18 billion to Canadian economy each year.
  • Since 1976, the average annual growth rate for self-employed women has been 5.3% compared with 2.2% for men.
  • One-third of self employed Canadians are women.
  • Women entrepreneurs hold ownership in about 45% of Canadian small and medium enterprises.
  • The likelihood of self-employment with women increases with age and most women are aged 35 to 54.
  • The age of those who start a business is gradually increasing (currently 33% of startups are over the age of 45).
  • The most rapid growth is among women around 55 years.

So what? These figures don’t prove that women are better entrepreneurs, but there are definite trends giving me pause to believe the even though they own less businesses they turn out more successful ones. My research based on over 700 startups indicates that most of the successfully run enterprises are owned by women. There could be a number of reasons:

  • Are women better organized?
  • Maybe women are better as team builders focusing on working with others rather than be the lone wolf
  • Perhaps women are more financially more prudent and good at bootstrapping
  • Are women better networkers? Some of my twitter followers believe so
  • Women generally aren’t the risk takers men are so good at, maybe better planning by women results in better choices and success.

Sources:

Prime Minister’s Task Force on Women Entrepreneurs, Nov. 2003

BC Stats Small Business Profile, 2003

CIBC’s Look at New Entrepreneurs in Canada, June 2004

HRDC Survey of Self Employment in Canada

A Portrait of Small Business Growth and Employment in Western Canada – Western Economic Diversification

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