By James Giancotti, Forbes magazine contributor
Women entrepreneurs are articulate, tenacious and ambitious. To my understanding, a third of all new companies created today are run by women. Entrepreneurship supports economic growth and so what is good for women is good for the economy.
Female entrepreneurs are an under tapped force and if fully realized, can significantly boost economic expansion. April 2016 marked an exciting announcement of World Bank’s $2.5 billion investment in education projects for adolescent girls. The First Lady, Michelle Obama’s powerful on-site speech is a genuine endorsement of the bright future in harnessing the talents and economic potentials of mankind and women in particular.
Research confirms women make better entrepreneurs
Women are proving themselves to be more than capable. They are confident, believe in themselves and have drive and urgency to take on the best in the business. Last year, I had the privilege of meeting Sheryl Sandberg during one of my trips to the Valley and it is no surprise that women entrepreneurs are a fast-growing sector.
There is consistent research confirming the finding that women make better entrepreneurs to some degree. According to 2016 BNP Paribas Global Entrepreneur Report, women are found to be slightly more successful than their male counterparts, and have high expectations in general. The annual revenue generated by those companies run by women are, on the average, about 13% more than the average of those in operation by males.
Additionally, women are shown to have a more positive attitude toward the future of their businesses, with 89% expecting stable profit growth in the next 12 months. At an aggregate level, close to US$5.96 billion has been earned by female entrepreneurs surveyed in this research.
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