Launching a new business start-up is one heck of a task and for women; it may seem even more difficult at times. While women are gaining more and more respect from men and society as a whole, it’s still not 50-50 on the equality scale. Men are still considered the best business owners and CEOs, while most people believe that women should not be in power. Nonetheless, women own one third of businesses across America and that alone shows just how equal women truly are to men when it comes to running a business.
However, motivational factors may be a little different for women who start up their own business. Since women tend to be more family-inclined, we would normally imagine that their primary reason for starting up a business would be to have more family time. This is apparently false when studies showed that it was second to last on the list of motivational factors for starting a business.
The highest priority for starting a business with most women was being able to express their passion. Following their dreams and making it their job was the highest ranked motivational factor. In second place was being able to be their own boss. Although being their own boss is also at the top of the list of men, following their dreams was third, while becoming financial free was first with males.
One of the biggest fears women have is not being able to get merchant loans for start up businesses. Although we’re in the 21st century, most banks prefer handing start-up loans over to men rather than women. This forces women to have to deal with high risk merchant processors such as First American Merchant. Nonetheless, it still gets the job done and allows them to move forward with their dreams.
Most women also stay up at night thinking about costs of labour and how to gain brand recognition. Most women also admit to needing their website, social media and SEO for major chunks of profits, but seriously lack the required skills to manage them on their own.
In the end, the differences between men and women business owners are not that big. Both tend to do it for similar reasons and fear the same issues as well.