Why do most female entrepreneurs start their own business? To balance their personal life of course!
American women are career driven and determined, but they also want to balance their personal and family life. So, what’s the most common reason they start their own business? A new survey by PayPal found that 55 percent of American women entrepreneurs said they started or want to start their own business to achieve work-life balance.
Women in China, France and Mexico were also surveyed and were found to have different motivators than their American counterparts.
In China, 48 percent of women said they wanted to start their own businesses in order to control their own futures. 61 percent of French women and 66 percent of Mexican women said they pursued entrepreneurship to have pride in themselves. But overall, 47 percent of women named passion as their leading motivation.
In the survey, women who wanted to start their own business were optimistic about their opportunities; they saw few financial or business barriers to overcome. Still, 13 percent of women weren't as confident or optimistic in their business ventures.
The most common business American women wanted to or had started was consulting. In China and Mexico, it was apparel and accessories and in France, it was health and beauty and handmade and artisan crafts. According to the study, currently there are more than 7 million women-owned businesses in the United States with an economic impact of $3 trillion.
Have you started your own business or are aspiring to? What’s your reason for becoming an entrepreneur?