Despite encountering more obstacles and a greater likelihood of fearing failure, female entrepreneurs are more likely to successfully set up a business than men, according to new research commissioned by UK-headquartered private bank Kleinwort Benson, in partnership with YouGov.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Out of 500 business leaders who participated in the survey, only 11% of female respondents said they had failed to set up a successful business, compared to 17% of men.
Despite this, 40% of female respondents confessed to having a fear of failing to set up a business compared to 36% of men.
Also, almost half (42%) of women said that they had to overcome obstacles, compared to 32% of men.
Region wise, 18% of small business owners in the Midlands and Wales said they had failed to set up a business, versus 14% for their counterparts in both Scotland and the North, and London and the South.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataHowever, the study also found that 50% of London entrepreneurs face late payments from clients, against only 36% in the Midlands.
At 34%, the 55+ age category reported the lowest rate of fear of failing. This group also reported the lowest rate of having to overcome obstacles, at 32%.
Additionally, 20% of entrepreneurs aged up to 45 felt that they had seen negative impacts on the business, such as being overlooked by investors, compared to just 4% for those aged 46 to 54.
Kleinwort Benson head of entrepreneurs, Paul Bentley, said: "In our experience, female entrepreneurs tend to be more risk averse and position themselves better to create long term value. This is beneficial in two ways. Firstly they often avoid the pitfalls that befall early stage businesses.
"Secondly, their businesses will have demonstrated a more consistent track record and they will be more attractive to potential acquirers."
Kleinwort Benson also said there has been a 30% rise in the number of female entrepreneur clients over the last two years.
"Our new female clients are from a wide range of industries but we are seeing significant number from technology and property, which is borne out by the research. Overall, we can see that women are increasingly embracing entrepreneurship and are successfully overcoming obstacles, such as funding, late payments and generating sales, to become models of entrepreneurial growth," Paul Bentley added.
