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Breaking Glass

Small business owners' survey: Women far more confident than men

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Women small business owners in the tri-state area are far more optimistic than their male counterparts when it comes to revenue, growth and hiring, according to the semi-annual small business survey by Bank of America.

Women small business owners in the area are very confident they will increase their revenues (79 percent, compared to only 64 percent of men) and grow their business (83 percent for women compared to 77 percent of men).

The spring 2004 Small Business Owner Report is a semi-annual survey looking at the concerns of small business owners by area and gender.

The comparison between female and male small business owners were some of the most interesting responses.

Take compensation. When considering all the demands of owning a small business, women are more likely than men to feel they should be earning more money (42 percent to 32), while men are more likely than women to feel they should be spending more time with their family (64 percent versus 57 percent of women).

Women also believe they are more influenced by gender bias than men.

Nearly four in 10 women (39 percent) cited gender stereotypes as a major reason they feel they should be spending more time on different things (compared to 22 percent of men).

Some things, however, were gender neutral.

When looking at the family dynamics of the area’s small business owners, the vast majority (77 percent) said they have made significant sacrifices in their personal lives for their businesses. The most cited sacrifices: time for themselves (71 percent), vacation/leisure time (47 percent) and spending time with their children (41 percent).

As for regrets, nearly half (46 percent) say their biggest as a small business owner is not spending enough time with their loved ones, while roughly one in five (21 percent) think their greatest accomplishment is having enough money to support their family.


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