Women Entrepreneurs build bigger businesses than Men

On average, women entrepreneurs start more companies and their main business makes more in revenue, according to a new global survey.

They focused on individuals worth at least $2 million, excluding their main residence, though the average respondent was worth more than $7 million.

The survey found that the average female entrepreneur launches 4.9 companies. Men launch 4.3.

Women entrepreneurs also have more success growing their main business, reporting average annual sales of $9.1 million. Their male rivals manage $8.4 million.

Respondents said success or failure depended mainly on an entrepreneur’s vision and drive, but noted that women could be held back by a lack of confidence.

“There is no difference between a man and a woman in the entrepreneurial world,” said one respondent. “However, women often lack the confidence to start a business. They need to believe in themselves more.”

One factor seems common to most successful entrepreneurs, however, regardless of gender. The survey found that 62% of female respondents came from a family with a history of running businesses. The same was true for 59% of male entrepreneurs.

That family history matters more in some countries than others.

More than 75% of entrepreneurs in Taiwan, Spain, Poland, Turkey and the Gulf countries have such a background. In the U.S., the figure drops to 57%.

Source: CNNMoney (London)