Female SME owners more modest than men, survey finds

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9th June 2015 17:52 - Business Support

A recent survey by Barclays and the University of Cambridge has indicated that female business-owners are more modest than men.

The findings Female SME owners more modest than men, survey findsshowed that 42 per cent of women said that their business is doing well, in comparison with the 62 per cent of males who said the same.

However, although female business owners were more modest, female-owned companies are shown to report higher pre-tax profits on average.

The study looked at the opinions and the psychometric profiles of more than 2,000 entrepreneurs and employees in the United Kingdom, Germany, Singapore and the USA.

The research found that business creators scored higher on 10 of 13 key characteristic traits known to be apparent in business creation, including: achievement, motivation and the need for autonomy.

The survey also showed notable differences between entrepreneurs, with two different types of people emerging. One kind of person (Type A) were found to be artistic, highly organised, very competitive and emotionally stable. On the other hand, Type Bs were found to be traditional, conservative, disorganised, spontaneous and focussed on working as a team.

Development strategist at the University of Cambridge, Vesselin Popov, said of the findings:

“These psychometric results debunk the myth of the CEO superhero. Entrepreneurs do differ from employees but as a group, they are still incredibly diverse and often misunderstood.”

Head of Behavioural and Quantitative Finance at Barclays, Greg B Davies (PhD), added:

“This study directly challenges that misperception with a much more varied picture of success. Indeed, some of the characteristics we found, such as introspection, actively counter society’s popular stereotypes.”

Older entrepreneurs were found to desire the freedom to make decisions and used this as the main motivation for starting up their own business, with 70 per cent citing this as their reason for starting their business.

The research also found that migrant entrepreneurs owned 1 in 7 companies in the UK and create 14 per cent of all SME jobs.

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