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It's Official: Female Entrepreneurs Can Do More With Less!

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PHOTO: Nick Onken

An annual survey called the Global Entrepreneurship Monitor is in charge of following and tracking entrepreneurial activity worldwide. It's been reported that "female entrepreneurs in the U.S. reported needing only half as much as their male counterparts to start a new business."

This was based on a study conducted by Babson College where they interviewed 5,944 people between the ages of 18 and 74. Most of the women said they only needed around $10,000 to get their businesses off the ground. Of course, several factors come into play. Donna Kelley, an entrepreneurship professor who co-authored the study, theorized that it could be because women are more financially efficient than men or because we earn less money to begin with.

It has something to do with the kind of business ventures that women are more interested in: "Women tend to start consumer-oriented businesses, and these ventures—think retail and service businesses—are easier to start on a smaller budget. Etsy Inc., the online marketplace known for handmade goods, said last year that 86 percent of the sellers on its platform are women.On the other hand, men prefer businesses that cater to other businesses, which require more money in general. 

Furthermore, the study found that women start their own businesses an entire decade AFTER most men do. Kelley proposed that the delay is because women seek businesses that allow them to quit their full-time jobs and work from home (in order to take care of the children).

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