Many female business owners feel they have more challenges to face than men

A new survey has revealed that many female entrepreneurs feel they have more challenges than their male counterparts.

A third of the 500 female business owners feel that they aren’t taken seriously by investors, leaving many having to rely on savings or family members for financial support.

The AXA UK Women in Business Report surveyed 500 female business owners and highlighted the top challenges they face.

These include:

• Gender bias (cited by 59%)
• Stereotypical perceptions around ‘emotional’ versus ‘rational’ decision making (42%)
• Difficulty in asserting authority without being viewed negatively (33%)
• Balancing personal and professional life (29%)
• Issues finding a supportive team to help them achieve their goals (26%)
• Societal expectations around prioritising family over career (26%)

The report also noted the benefits of being a female entrepreneur, such as having more flexibility to spend time with family (48%) and being able to set a positive example to their children (43%).

Another 19% of respondents said they launched their own business to empower other women and adopt diversity, while 15% had hopes of improving their local communities.

Mike Crane, Director of Small Business Insurance at AXA UK, said, “Starting your own business is a huge challenge, and our research has highlighted areas where women feel disadvantaged.

“It’s clear that while the business world has made progress in recent years, it’s sometimes still not a level playing field for women.

“We believe being a woman shouldn’t be a risk when starting out in business – everyone deserves the same opportunities regardless of gender.

“Small businesses are the backbone of the UK economy, and we want to ensure they continue to grow and flourish with our support and encouragement.”

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