Female entrepreneurs might be outdoing men when it comes to running successful businesses this year.
About 40 percent of women surveyed started running their business within the last five years, and nearly 70 percent of them expect their revenue to increase this year, according to Bank of America’s spring 2014 Small Business Owner Report.
While nearly one-third of the women surveyed said they think they have less access to capital and new business opportunities than male small business owners do, 18 percent of women said they think they have more access to clients than men do.
Moreover, the survey found that women plan to hire more than men do: 56 percent of women plan to hire more employees this year, as opposed to 50 percent of men, and 68 percent of women expect their business to continue growing over the next five years. [5 Industries Where Women-Owned Businesses Survive Longer ]
The survey also found some interesting differences between female entrepreneurs and their male counterparts. When asked about their key character traits, 58 percent of women considered multitasking to be a strength, versus only 40 percent of men. Women were also 10 percent more likely to list creativity and 5 percent more likely to list empathy as key character traits for employees. On the other hand, 30 percent of men listed confidence as their strongest attribute, as opposed to only 24 percent of women.
Written by Brittney Helmrich. To read the full article, click here. Premier Business Network™ provides Guaranteed Benefits for Small Businesses™. Feel free to join the conversation about small business benefits at #pbnbenefits. For more small business tips or to become a member, visit our website at www.premierbusinessnetwork.com, and follow us everywhere @pbnbenefits.