Management Competencies of Women Business Owners
Business and Law
Women owners of small business are known to be better informed about issues relating to starting their own business compared to their male counterparts. Women spend more time conducting market research and have historically spent more time accessing finance because of gender bias within the lending industry. Due to their previous employment history many women have better administrative skills over men which should translate to women having better basic business management knowledge and a higher level of basic business competencies. Research conducted on a sample of 270 business owners found that whereas women rated themselves as more competent than men on a number of issues when they first started their business, they were no more inclined than men to pursue further business skills development or training once they were actively operating their business. Further, both women and men believed that they gained sufficient managerial experience ‘on-the-job’ not to warrant professional assistance in most business competencies.