Why Aren’t There More Rich Women Entrepreneurs?
Apr 24 2008
That’s the headline of a Wall Street Journal blog post that came out yesterday: Why Aren’t There More Rich Women Entrepreneurs? It starts with:
Recent studies show that there are more wealthy women than ever before. While a growing number are making it by climbing the corporate ladder, most of today’s wealthy women are still making their money through inheritance or divorce. A scarce few are making their fortunes by launching big companies – the most common source of big riches for today’s men.
and concludes with:
There are two explanations for the female shortfall, according to the USA Today story. First, starting a business usually requires capital, and men have easier access to the clubby world of bankers, venture capitalists and private-equity. Second, the article says, women are more devoted to their family and have less time than men to start businesses.
The blog post is interesting but the comments just blow me away because it’s like I was reading comments from people back from the dark ages. Most of the comments were well thought out but several posted by people not choosing to put their name down were really shallow. I mean do people really think like this:
There is this little thing called a brain. Most women are severely lacking in this department, and as such have been relegated to house duties for most of history. Now that women are clamoring for equality, we see that they really aren’t equal at all.
Talk about issues! Other thoughts from the commenters:
Seems to me that women are better at following rules than men, hence they do better in structured institutions (schools, large companies, institutions) whereas men are more intrinsically rule breakers and therefore on average do less well, but sometimes succeed spectacularly. – Bill
While I agree that risk aversion plays a part, one also has to look at Analysis Paralysis. As ‘not trying to offend’ points out, men often “execute and follow through based purely on logic”. Women (and I am one, early 30s, well-employed, trying to start my own company at the same time) tend to need full answers before they act. – More than just risk aversion
Despite advances for working women, I think it is certainly the case that they are not supported by husbands. I am about to be married and my fiancee is asking me to quit my job to raise a family – despite making twice as much as him. – so true
To be an entrepeneur one has to be completely comfortable with business risk. In my experience, women as a group
are far less willing to risk everything they have for a business idea. This may be a gender specific biological trait related to the female’s reproductive functions. – Orrin Schwab
Many of the paths to entrepreneurial success are only open to people who have college degrees in science or engineering. Most women don’t have them and it certainly limits their opportunities. – Kevin
I think women also tend to have their eye on the “big picture,” and define success much more broadly than in dollars and cents. This can lead to decisions like cutting back on work hours or taking less challenging jobs in order to have more time to spend on family or other personal pursuits. At the end of the day, this may lead to less money – but greater happiness. – e c
Sometimes I can’t believe we are still having discussions and comments like this. Why can’t we just get along and let women choose to do what they want to do without analyzing every thing about it? If a woman wants to stay at home with the kids full time and be CEO of the house, great! If she wants to work from home, great! If she wants to work outside of the home, great! If she wants to work part time, great! If she wants to work full time, great! If she doesn’t want kids, great! If she wants to try to be Bill Gates, fine. If she wants to be the CEO of PepsiCo, awesome! If she wants to be head of the PTA, cool!
We are all (hopefully) doing the best we can. Us women were given the gift of being able to incubate and give birth to the future generation of humans, honestly that in and of itself is success! Sadly that ability is often sort of brushed aside as not being as valuable as being a billionaire entrepreneur/CEO. Honestly, I can think of several former billionaire CEOs who would have traded their fate to be a woman/mom.Author: Aruni | Filed under: diversity, entrepreneur, entrepreneurship, mother, random stuff, working mother | Tags: entrepreneurs, female entrepreneurs, unsupportive husbands, where are the women entrepreneurs, women entrepreneurs | 16 Comments »