100,000 in funding, would that be reasonable? Imagine if the only difference between those two business owners was gender? Unfortunately, that hypothetical question is reality, regarding 99designs’ recent Ladies in Business 2018 study. 100,000 in financing than their male counterparts. Let’s have a look at a few of the core findings from the study, and what they could suggest for entrepreneurship in 2018 and above.
Perhaps most confusing is that female business owners reported a work ethic that seemed to surpass their male counterparts. Women were more likely to report putting in a second change after hours (67% of women in 61% of men) and working their businesses from your home (68% of women vs 48% of men).
Unfortunately, this lack of access to financing could have a direct effect on many women-run businesses and their capability to go beyond the startup phase. Not only do more women work from home, but they’re also less likely to hire additional employees early on. In fact, men are twice as more likely to have two or more employees doing work for their startup than women (53% of men vs 32% of women). If women lack the financing necessary to lease office space, hire new employees, or invest in marketing to reach new clients, they may find development of their businesses stagnate. In all other areas, though, 99designs’ data shows male- and female-led businesses operate similarly.
With the uncommon exemption, both genders are likely to start businesses in the same sectors, although women will choose design or health care, while men more regularly opt for tech-oriented businesses. Both men and women seem to approach fundraising in similar manners also, listing challenges like “inexperience” and motivations like “retaining independence.” Both genders outlined relatives and buddies as their top funding source also.
So, why the disparity in financing? There could be many reasons. One possible reason is based on the wording used to spell it out male vs. Female business owners have been found to be referred to by VCs as vulnerable, worried, or cautious too, while men are referred to as arrogant, intense, or very driven.
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- To build values for customers
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Investors also tend to bias the questions asked when interviewing male business owners vs. Men tend to be asked questions that are promotion-oriented (expectations and ideals), while women are asked prevention-oriented (security and safety) questions. Possibly the best news coming out of the study originates from evaluating this year’s results to last year’s.
100,000 in funding, compared to only 5 percent of women surveyed. 100,000 or even more, and 15 percent of women got achieving that goal. Unfortunately, though, the same distance hasn’t narrowed by much, with men still almost two times more likely to raise six-figure funding than women. When women are denied the funding they need, it affects the economy as a whole actually.
250 million in US dollars). American studies have discovered that women-led companies perform much better than those headed up by men plus they also bring 60 percent more value to the traders who have confidence in them. There also is still a pay space between women and men, and providing equal funding could be a great way to start to change those true numbers. The first rung on the ladder toward remedying the gender funding disparity is usually to be aware that it is taking place. The realities of investing in female-led ventures appear to vary significantly from what investors seem to believe.
As investors prepare for another decade of investing, it’s important to continue steadily to watch these figures and make a concerted work toward offering equivalent funding for equal businesses. Author bio: Laura mind up the European Marketing team for 99designs in Berlin. Having examined the History of Art in the UK’s capital city, she is passionate about the visual arts, aesthetics, and design, and has over ten years of digital marketing experience behind her. When she’s not championing the 99designs brand you will likely find her hanging out with friends, co-workers, or family across continents, practicing yoga, or soaking up her favorite music around the city of Berlin.
Both things are ok, but in some way you got into this position in any case. You need to be honest with yourself if managing a team is perfect for you. How You Fix It: You will need to figure out the WHY behind why you don’t like being truly a manager. What don’t I love about managing my team? Are there things I possibly could do to change those aspects I do not like about managing my team? Will there be something I can change in myself to raised enjoy managing my team?