time. Women’s reliance on internal funding sources (e.g., owners’ savings, loans from family and friends, credit cards) makes a difference such that years after startup, women-owned high-tech firms lag behind men-owned firms in numerous performance measures, including revenues, assets, and employment. However, profits were shown to be higher for female-owned firms.
In addition, Reedy discussed the age at which entrepreneurs usually start their businesses. One of the common misconceptions about entrepreneurs is that these individuals are age 25 to 30.7 In fact, it is more common for those in their late 30s and early 40s to start companies because at that age people have considerable industry experience and starting a business is a strategic part of their overall career goals. This average start-up owner age was not shown to vary significantly between men and women or across sectors. But women owners reported working slightly fewer hours per week than their male counterparts.
7 Kauffman Foundation Survey. Available at: http://www.kauffman.org/research-and-policy/kauffman-firmsurvey.aspx.