In the current economic strain, many women are pursuing the opportunity to become their own boss and have entered the realm of entrepreneurship. Women entrepreneurs will have an experience different than their male counterparts. Research has shown that female-owned businesses are smaller, less profitable and less likely to grow.
What to do?
Read the research that demonstrate the challenges:
- “Women owned Canadian firms are significantly smaller, less profitable an less likely to grow compared to those firms owned by men” (Orser, Gender & Export Propensity 2008)
- “Women owned firms, on average, were less likely than firms owned by men to have exhibited rapid sales growth” (Orser, Women Entrepreneurs & Financial Capital 2006)
The Initiative for Women in Business at the Rotman School of Management is trying to address this disparity through Next Steps: A Program for Experienced Women Entrepreneurs. The program is led by Rotman faculty and leading female industry experts who’ve achieved a top-10 ranking in the Profit W100 list of women entrepreneurs.
The program highlights growth strategies, valuation, relationship management, leadership skills and (of course) how one finds their next venture, since entrepreneurs are constantly looking for the next challenging opportunity.
The program will begin October 15 and you’re invited to take part as a participant. Or give me feedback about other issues you feel need to be addressed for woman entrepreneurs.