Endeavor Insight and Google for Startups joined together to study entrepreneurship among women in the United States. This research included interviews and surveys of more than 1,000 women entrepreneurs who lead businesses across the country, conversations with the leaders of organizations that support women founders, a review of existing entrepreneurship studies in this area, and analyses of national data from the U.S. Census Bureau.*
– More women are becoming entrepreneurs each year, but they are less likely to start and scale their own
companies compared to men.
– Women founders who have scaled their companies to 50 or more employees often gained valuable industry experience early in their careers and achieved high-level positions at other entrepreneurial companies prior to starting their own business.
– Receiving mentorship from entrepreneurs who have previously scaled companies is one of the clearest differences between women who scaled their businesses and those who did not.
– If more women founders could grow their companies to 50 or more employees, it would have a tangible effect on closing the wage and wealth gaps that exist between women and men. It would also generate a substantial number of jobs and add a significant amount to the nation’s GDP.
– Women founders tend to have a harder time than men in securing financial capital to grow their businesses, but this challenge may be a symptom of underlying obstacles in building strong networks.
– Decision makers who wish to support women in entrepreneurship can take specific steps to reduce bias throughout the investment process and curate high-quality mentorship opportunities.
To read the entire report, click here.