More Women Buying Their Own Businesses
The majority of women buying a business (61%) are doing so for the first time according to the latest quarterly survey of the business buyer market by website BusinessesForSale.com
The research shows that three times as many men as women who buy businesses have already bought four or more firms before.
Jeremy Mandell, at BusinessesForSale.com, said:
“We are seeing more and more women buy businesses.”
BusinessesForSale.com lists more than 58,000 businesses for sale and it has seen some clear differences between male and female buyers. Women are twice as likely as men to be interested in investing in a caravan and camping park business; they are three times more likely to want to buy an education-related business; and women are four times more likely to be interested in the health and beauty sector than men.
The survey shows that women are attracted by businesses that allow them more flexibility in managing their time. Dr Marilyn Orcharton, co-founder of dental plan business Denplan and champion of women in business, said:
“From my own experience, women are able to run a successful business and have an active role in family life. Child-care can be a nightmare for women in business but if it’s your own business you can arrange your hours to suit, even if you work late into the night at times. At least you are working for yourself!”
When it comes to franchises, the data reveals that men are five times more likely to buy a master franchise. And only 5% of women are considering buying the franchise rights to an entire region or country, as opposed to a local territory.
As women in the UK remain the main childcare providers, they are twice as likely to be interested in working from home than men. And the survey finds that men are still more likely to own a business (37%), compared to women (25%). This comes at a time when the Organisation for Economic Co-operation and Development (OECD) recently reported that economic growth could be tackled by governments willing to encourage more women into business. (See Better skills and better policies lead to better lives for women)
Dr Marilyn Orcharton said:
“If we can encourage and foster the entrepreneurial spirit of women everywhere, I think the economy could go from strength to strength.”
Our article International Women’s Day – Connecting Girls, Inspiring Futures is a great read to inspire more women to take up the entrepreneurial baton.