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Business Research Project
The Female Entrepreneur –
To what extent do Female Entrepreneurs differ
from their Male counterparts, and does this affect
the overall success of the business?
UP677287

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Contents
Introduction Page 1
Analysis of the Issue Page 2
 Primary Research Question
 Secondary Research Questions
Practical Rational Page 5
Exploring Academic Research Literature Page6
Bibliography

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The Female Entrepreneur –
To what extent do Female Entrepreneurs differ
from their Male counterparts, and does this affect
the overall success of the business?
Introduction
The recent recession the role of the entrepreneur has become more prominent due to
the positive impact they have had to the recovery of the economy. Over the last decade
attention has focused on the entrepreneur and small business as the role of the
entrepreneur has become a significant factor in the process of economic recovery and
growth. Additionally the idea and values of entrepreneurship and self-employment are
being encouraged as options towards students, the unemployed and women (to name a
few). However, the idea of the entrepreneur and image we think of when you say
“Entrepreneur” is that of a young twenty something male because it is itself highly male
dominated.
More women than ever are being inspired to set up their own businesses, a handful
becoming highly successful. Increasing numbers of women are becoming leaders of
their own businesses, and many are struggling to achieve success. In recent years there
has been a growing interest into research and theories discovering how different
women come to entrepreneurship, their unique management styles, motivations and
strategies for success. Surveys show that the women-owned firms in the global market
stimulate growth and are focused on expanding their business (National Foundation of
Women Business). Women entrepreneurs have a substantial positive impact on the
economy not only creating jobs for themselves, but also in creating jobs for others
(Karacostas, 2012; Sisson, 2010).
This paper will examine and identify any gender based differences between male and
female entrepreneurs and if this has an effect on the success of their business.
Additionally to further explore why more women are choosing to become
entrepreneurs, to what extent the gender gap, if any, has on the motivation and strategy
of women in the entrepreneurial sector, if there is a genuine conflict between male and
female entrepreneurs and why not more women are entering the entrepreneurial
sector.

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Analysis of the Issue
According to isbe.org.uk, the gender gap in enterprise has been part of society and the
economic development discourse for many years and evidence in the Global
Entrepreneurship Monitor (2007) showed a growth in UK total entrepreneurial activity,
there has as yet been no substantial change in the position of women who are still
around half as likely to be involved in business start-up activity as men. Independent
start-up activity in 2005 was 3.74% of the female adult population compared with
6.17% amongst men (Minniti et al, 2006). It is argued that it is not possible or
appropriate to highlight female owned business as different or compare to male owned
or lead businesses. Like females need different treatment. Further arguments highlight
that it is not the “difference” per se but other issues surrounding women initially setting
up their business and achieving their full business potential.
An issue, that in the past has been, that any literature on the subject of female
entrepreneurship has mostly been written from the male perspective and male
entrepreneurial model and therefore women’s business leadership cannot be
understood using traditional (male-oriented) frameworks of business analysis (Brush,
1992). Brush further states: “Significant differences have been found in reasons for
business start-up, educational background, work experience and business skills . . .
business goals, management styles, business characteristics and growth rates. These
variations suggest that women perceive and approach business differently than men”
(Brush, 1992). This statement is the basis, the spark, the initial issue that will be
explored throughout this paper.
The general overview on most literature and research is that it is not necessarily the
gender gap or a glass ceiling that are holding women back in self-employment, many
studies have suggested it’s a man vs woman environment and champion the differences
that are highlighted to be a cause but to explore further and discover that it could not be
the main cause but one of many issues and problems women face when entering and
competing in the sector. It is said that woman do not have the same access to business
advice as their male counterparts do, receive less in the way of support and barriers
such as access to finance due to prejudice and discrimination. The research on this
subject is vast and argumentative, views that disregard others, points that lack evidence
and conflict between writers views, that could be, put down to their gendered view.
Primary Research Question:
Examine and identify any gender based differences between male and female
entrepreneurs and if this has an effect on the success of their business?

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Main issues that have been highlighted in basic literature are that two thirds of the
working age population are women, but they remain under-represented in all forms of
economic activity in some areas is this worse than in business ownership. Furthermore
there is still a very significant gender gap when it comes to women owning and running
their own businesses. Statistics show that 12% of businesses with employees and 15%
of all businesses are majority female owned, equally owned it is 26% and 19%
respectively and male owned 51% and 60% (isbe.org.uk.)
Throughout history, and according to the norms of particular cultures and societies, the
roles and characteristics of men and women in society have always been significantly
different, the man is the provider, the hunter while women are the homemakers and
raise children. However, the nature of these roles has gradually been changing over the
last century and more. More women are continuing into further and higher education,
over taking men with higher grades, and population more spaces at universities across
the western world, and into full-time employment; a revolution in equality and of
attitudes and ideals of women and what they can accomplish. Additionally men are
taking a more active part in the running of the home and the raising of families. Divorce
is on the increase, forcing more women back into full time employment and
independence.
In 2013, Forbes Magazine published an article which dubbed 2013 as the Year of the
Female Entrepreneur which championed a new age of female achievement and brought
female entrepreneurship out of news obscurity and into the spotlight. From this Forbes
then published the article in 2014 “How are Female Entrepreneurs different from
Male?” and many more similar articles both positivity commending the difference
between male and female but also highlighting the negativity and the gender gap.
Several researchers have endeavoured to identify characteristics that are shared
between the genders, however to define a simple list of common characteristics that
describe a female entrepreneur is impossible as it is impossible to define characteristics
for the male counterparts (Foxall & Minkes, 1996). There are many studies that are of
the opinion that entrepreneurship is purely gendered, however there are a large
amount of studies that agree that female entrepreneur motivations are similar in most
cases to that of their male counterparts (Birley, 1989; Hisrich, 1990).
Studies of entrepreneur characteristics continue to compare women to men. Most
studies have surmised that women are more similar to men than they differ, however a
large amount of news articles and media stories hold on to the concept of Male vs
Female and reinforce the gender difference, albeit in a positive way and along the “girl
power” notion (Fox Business, 2014; Business Insider, 2010). Nonetheless unlike
academic studies and research, most news and media articles are somewhat bias,
depending on the author’s gender usually, and cannot be completely relied on for
accurate facts and statistics.

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In recent years the opportunities to become self-employed and an entrepreneur have
become more popular thanks new initiatives, start-ups, loans and government schemes,
more support for women also is available but still the number of women taking up this
opportunity of entrepreneurship is significantly lower than the number of men globally.
If we believe that female entrepreneurship is vital for the recovery and development of
the economy, then exploring and understanding its causes and the motivation then
becomes more important. The main objective here is to identify and analyse key
characteristics of female motivation, compare with their male counterparts identified
characteristics and explore if these possible gender differences do actually have an
effect on the success and growth of a business. However, an issue highlighted within the
research found is that there are many characteristics and many arguments in regarding
the “common” or shared characteristics. So initially the first task is to methodically
highlight a certain number of traits and characteristics that have been repetitively used
and with this find out the key motivators and objectives of both male and female
entrepreneurs.
An article from Forbes 2014 highlights a number of differences women entrepreneurs
have in comparisons to their male counterparts, such as age, finances, the sense of the
greater good that women focus on and how women tend to be more self-critical. Other
articles explore further, pointing to a more psychological approach of women and the
choice to become and entrepreneur such as family and flexibility. However none these
articles explore any actual facts and figures and mainly generalise female motivations
toward entrepreneurialism. This leads me onto further questions that need to be
raised.
Secondary Research Questions:
Is there a genuine conflict between male and female entrepreneurs?
An opinion I have gathered from the sources read is that there is not a greatly identified
gender gap, nor is there a certain justifiable conflict. The media hype surrounding male
vs female entrepreneurs is that of fiction with no concrete evidence just wishful
thinking. A few articles such as Fox Business writer Brittney Helmrich highlights
statistics of males vs females but the basis of these statistics are questionable due to the
question’s being asked. For example: 30% of men listed confidence as there strongest
attribute, as opposed to only 24% of women. To reach concrete evidence of a gender
conflict, surveying traits such as confidence and multitasking seems to be pigeonholing
gender…….of course women would consider multitasking to be a stronger trait, as
physiologically that is the environment of society norms we have grown up in. The line
“men can’t do more than one thing at a time” springs to mind. So deeper more academic
research I believe is needed than just magazine and news articles. Articles and sources
like this could also affect a woman’s decision to enter into self-employment.

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Why are there not more women motivated into entrepreneurship?
It could be argued that articles such as above (Male vs Female Entrepreneurs: How are
they Different?, Fox Business, 2014) could have a negative effect on the inspiration of
women and the opportunity to start. However in comparison there are many sources
that champion women as entrepreneurs and many success stories such as the well
know Oprah Winfrey and the recent success of Sarah Kauss, Founder of S’well.
Additionally, barriers that are still prominent are the lack of knowledge of help and
support. There are many schemes and directives that have been put in place over the
years, and personally I only now know about these because of the research. There is no
public knowledge; there is no education into enterprise unless you are in education.
There are sessions for people at universities, colleges and schools to help young
entrepreneurs, but for an older female, access to sources and education to become an
entrepreneur could be a barrier.
Practical Rationale
The enterprise, innovation and entrepreneurial sector could benefit from an in depth
exploration of the “gender gap”. To highlight any myth or fact about possible male and
female difference and to strengthen the general population knowledge of information
that is accessible.
To explore possible difference and highlight issues any would then lead to industry
change. We have already seen a massive change with more female led entrepreneurial
educators and support. More courses and information provided to young entrepreneurs
and students, help and support and also a change in financial incentives from banks and
government schemes. More in-depth research and dispelling of a gender gap or conflict
could motivate more women to take up self-employment and encourage more quality
and balance in all working sectors. Additionally with more women entering the industry
it is projected that if the UK could achieve the same current levels as that of the US,
Britain would gain three quarters of a million more businesses. (Gordon Brown,
Advancing Enterprise Conference, 2005). This could be a boost for the economy and
reinforce the fact the female entrepreneurs are not only good for the economy but a
boost for all other businesses whether male or female owned.
By exploring the gender differences, possible conflict and ease of access male and
females face, business and industry leaders can learn from the problem areas and
issues. Modernising the road to entrepreneurship for both males and female can indeed
have a positive affect across the board, to learn from mistakes and improve on faults.
The key areas that have been highlighted numerous times for female entrepreneurs are
that of:

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 Motivation
 Access to Finance
 Attitudes
 Support
Compared to a decade previous, these main areas have greatly improved however there
are still issues such as in access to finance where women are still facing difficulties
compared to the men entrepreneurs. For instance women only have one third of the
capital on start-up compared to male owned businesses and are charged more in
interest on loans (2.9% women vs 1.9% men). Figures like these could also affect a
woman’s decision to start their own business. Could this be a reason behind the lower
number of women in enterprise?
Attitudes, of both male and female but also the wider society also needs to be further
investigated. The Traditional view of male and female roles, although less specific in
modern day life, still has underlying value in all our culture. However more of a cross
over is happening in what used to be gender specific roles, more women in engineering
for example, and more men choosing to raise a family at home. So as these gendered
barriers break down is it leaving more accessibility for females to enter the
entrepreneurial sector? Or do more attitudes, including women’s, need to change
further to open the flood gates? More questions need to be asked in every highlighted
area and more exploration to educate and inform for the future. Current data is
conflicting, in most cases outdated, and a large amount of misinformation is readily
available.
Exploring Academic Research Literature
In term 2 I will be able explore this topic further and more in depth. I have found that
news, blogs, statistics, etc. as a resource extremely difficult as there are so many
personal points of view and many conflicting arguments, which has been hard to make a
firm decision as to whether or not there are any real differences between male and
female entrepreneurs and if this does in fact effect on the success of their business.
From my research there is a vast and varied range of literature readily available,
however, most of which is dated and a few years old. There is not as much up to date or
recent information readily available or as easily accessible but what is and has been
found is concise and factual. I aim to cover at least 7 academic journals and books on the
subject. Does the business start-up process differ by gender? Frontiers of business
ownership research by Alsos, G.A., & Ljunggren, E. (1998) is the first piece of literature I
found on the subject of gendered entrepreneurialism. This initially sparked my interest
to research the motivational concept, however the arguments over the gender issue
became further prominent in such journals as: Birley, S. (1989). Female entrepreneurs:
Are they really any different? And Brush, C. (1999). Review of “Women entrepreneurs:
Moving beyond the glass ceiling”. Academy of Management Review.

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“Moving beyond the glass ceiling” I found is particularly interesting and helpful in my
research as it poses another question, even though women who enter into self-
employment and entrepreneurialism have “broken though” that glass ceiling, they could
also now be trapped in-between the first and now a new second glass ceiling. I would
have to again explore the theory of a secondary glass ceiling to grasp its concept in
regards to entrepreneurship.
Other such journals I will be exploring:
 Caputo, R.K., & Dolinsky, A. (1998). Women’s choice to pursue self-employment:
The role of financial and human capital of household members
 Loden, M. (1985). Feminine leadership, or how to succeed in business without
being one of the boys.
 OECD (2012), “Measuring Women Entrepreneurship”, in Entrepreneurship at a
Glance.
 Robichaud, Y., Zinger, J.T., & LeBrasseur, R. (2007). Gender differences within
early stage and established small enterprises
 Sexton, D., & Bowman-Upton, N. (1990). Female and male entrepreneurs:
Psychological characteristics and their role in gender-related discrimination.
Additionally there are many more that I will want and need to review as this topic is so
vast and has an ever changing perspective. To acquire an all-round knowledge and
insight into the questions posed, and to be able to answer, more than a handful of
literature on this subject will need to be reviewed.
Word Count 2,854

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