Startups by women grew by double digits annually from 2000-2003. This represents a significant increase in growth since the 1990s. The number of women-owned startups out numbered men-owned startups by almost 2-to-1 in 2003.
Lifestyle appears to be driving more women to become entrepreneurs. Women want greater independence and balanced lives, including more time with family. Many are opting to set up shop at home. Technology advancements and accepted workplace norms that enable people to work virtually anywhere are encouraging this trend.
Other nuggets from the survey:
- More women than men report that their businesses are part-time. One in five women work part-time -- double the percentage reported by men.
- Women report self-employed income that is significantly lower than men's, partially because of the part-time nature of their enterprises. Average income for women surveyed is $38,640 versus $54,260 for men.
- Yet, women are more committed to sticking with their startups than men, even if more attractive opportunities came along. Over 26% of the women surveyed would not consider closing their businesses even if a desirable job appeared. Only 17 percent of men said they would remain so committed.
Now, this survey may be news to some. But I'll bet most of the women out there aren't in the least surprised. These results are completely consistent with the anecdotal experiences of women.