New survey says female entrepreneurs are more successful than men

Research has revealed that despite encountering more obstacles and a greater likelihood of fearing failure, women are more likely to successfully set up a business. From those business leaders questioned, just 11 per cent of female respondents said they had failed to set up a successful business, compared to 17 per cent of men.

However, while being more likely to succeed, women have a greater fear of failure than men, with 40 per cent of female respondents confessing to a fear of failing to set up a business compared to 36 per cent of men. Almost half of women also said that they had to overcome obstacles, compared to 32 per cent of men questioned.

Small business owners in the Midlands and Wales were most likely to say that they had failed to set up a business, compared to 14 per cent for their counterparts in both Scotland and the North, and London and the South. However, 50 per cent of London entrepreneurs face late payments from clients, compared to only 36 per cent in the Midlands.

The 55+ age category reported the lowest rate of fear of failing at 34 per cent. This group also reported the lowest rate of having to overcome obstacles, at 32 per cent. In addition, 20 per cent of entrepreneurs aged up to 45 felt that they had seen negative impacts on the business, such as being overlooked by investors, compared to just 4 per cent for those aged 46 to 54.

Paul Bentley, head of entrepreneurs at Kleinwort Benson, who commissioned the research conducted by YouGov, said: “In our experience, female entrepreneurs tend to be more risk averse and position themselves better to create long term value. This is beneficial in two ways. Firstly they often avoid the pitfalls that befall early stage businesses. Secondly, their businesses will have demonstrated a more consistent track record and they will be more attractive to potential acquirers.”