On a hunch, I googled “women better at business.” I wasn’t surprised at what I found. In an article in FitSmallBusiness.com, I found five reasons why women are considered better at business:
- In one study, firms owned by women averaged about 75% growth, compared to 45% growth for men-owned firms.
- According to the Census Bureau, women-owned firms hire more people. Over an 8-year period ending in 2015, the number of workers in women-owned firms grew by 18%, while the number in men-owned firms increased less than 1%.
- One venture capital firm analyzed 10 years of their internal data and found that startups with women entrepreneurs provided 63% better return on investment than startups with all male founders. The results improved even more when more women were in management positions.
- Women are more effective leaders in upper management positions. Research by The Harvard Business Review found that upper management women were more effective at all levels but slightly more effective at the highest levels.
- Women have a larger appetite for growth. A BizWomen survey found that 32% of women-owned businesses were actively expanding compared to 27% of men-owned businesses. A study of 400 entrepreneurs by the Center for Entrepreneurs found that half the female-owners were planning to start another company within three years compared to less than one fifth of the men.
That wasn’t all I found. There are many articles out there discussing the same ideas. Again … I wasn’t surprised at what I found:
- Why Companies With Female Managers Make More Money
- Women Rank Better Than Men at Leadership Skills
- The Cold, Hard Proof That More Women Mean Better Business
- Also not surprisingly, Why Women-led Companies are Better for Employees
I suspect we could apply the same reasoning to suggest that governments would run better with more women in senior positions. And what about religions and other social institutions?
Thanks for reading,