Women's Entrepreneurship Day

Sisters are doin' it for themselves: Research reveals female entrepreneurs are self-funded and self-motivated

Women’s Entrepreneurship Day 19 November 2018

In support of Women’s Entrepreneurship Day, InsuranceBee has released new research among female entrepreneurs that shows women are both self-funded and self-motivated.

InsuranceBee asked female entrepreneurs how they funded their business, why they started their business, and what initially inspired them to launch a new venture.

  • The research revealed women are self-starters, with 85% self-funding their company in part, or in full
  • A quarter of women stated self-belief was the only motivation they needed to go it alone. However, support and encouragement from family and friends is also important, with 45% drawing inspiration from those closest to them

The top reasons female entrepreneurs cite for starting their own business are: being their own boss; more flexible working hours; and earning more money.

Maureen Brogie, Senior Advisor, InsuranceBee stated: Although a huge number of high-profile female entrepreneurs have inspired millions of American women, we found self-belief and self-motivation were significant factors when it came to finding inspiration for starting a business. In addition, family and friends played a huge part in encouraging female entrepreneurs to begin a new venture. What we found somewhat surprising was not a single person named a famous entrepreneur as the reason that they were inspired to found their own company”.

Women’s Entrepreneurship Day is celebrated annually on 19 November, following the Women’s Entrepreneurship Day Summit held at the United Nations on 15 & 16 November 2018.  

A summary of findings from InsuranceBee’s Entrepreneurship Survey is available at: https://www.insurancebee.com/blog/797/research-women-entrepreneurs

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