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BizReport : Internet : March 13, 2017

Survey finds women wait to go into business

Women are more likely to wait to go into business for themselves. That's a key takeaway from new 99Designs data, which found that while men are more likely to start a business early in life and with better funding.

by Kristina Knight

Researchers with 99 Designs found that while nearly 20% of men start a business between ages 18 and 25, only 12% of women do so; but, while about 42% of female small business owners started their venture after age 35, one-third of men (33%) did.

As to funding, men are twice as likely to have raised at least $100,000 to start their business than women, but women are more than twice as likely to continue education through actual coursework. Men are more likely to simple read books to learn new methods.

Other interesting findings from the report include:

• 20% of women say their biggest business challenge is 'getting out of their comfort zone'
• 14% of men say this
• 23% of women say networking is their most important skill
• 19% of men agree

"Internationally, it does seem that traditional family roles and childcare affect the amount of time entrepreneurs dedicate to a venture, with nearly a fifth (19%) of women entrepreneurs spend over five hours a day with their family vs. 13% of men. The number of hours worked demonstrates the opposite trend, with 13% of men working over 12 hours per day, vs 7% of women. However, among US respondents, these numbers were slightly closer - with approximately 19% of women reporting they spend 5+ hours with family vs. 17% of men. And of those spending 8-12 hours a day on a business venture, women and men only varied by about 13% (56% of US men vs. 43% of US women)," writes the company.

Tags: 99 Designs, small business trends, SMB tips, SMB trends

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