White CollarFemale entrepreneurs have ‘no glass ceiling’ in their own business, and they earn more than men, report shows
A report by French bank BNP Paribas shows that companies started by women tend to have higher revenue
New research is beginning to cast light on the success rates of men and women when it comes to entrepreneurship and the results are surprising.
On the whole, companies started and led by female entrepreneurs tend to out earn those founded by men. The results have been published in the second annual “Global Entrepreneur Report” conducted by French lender BNP Paribas.
Worldwide, male entrepreneurs count for around 66 per cent of new companies, or nearly double the 34 per cent share led by women.
However, the turnover of companies started by women was higher, at an average US$7.1 million, or about 13 per cent more than the average of those managed by male entrepreneurs.
Companies founded and led by women collectively had turnover of US$5.96 billion, according to the study, which surveyed 2,594 entrepreneurs in 17 markets,across the United States, Europe, the Middle East and Asia.
Meanwhile, 61 per cent of these female entrepreneurs expect their businesses profits to increase in the next 12 months.
Their decision to pursue an entrepreneurial destiny was in large part because through running their own business they could write their own rules