Female entrepreneurs are being urged to find an idea they are passionate about and to build a business around it.
Research shows that many potential female entrepreneurs fail to overcome the ‘fear factor’ and transform their business ideas into reality.
Women are half as likely than men to set up their own businesses, according to the Global Entrepreneurship Monitor (GEM), and research has identified low levels of confidence as one of the main reasons for this.
However, David Robertson, chief executive of Bibby Financial Services says that women will overcome this if they are motivated by an idea they love.
“If you start a business in an area you're interested in, you're more likely to make a success of it,” he says.
Robertson goes on to emphasize the necessity of a thorough understanding of the market the business would enter, and the importance of acquiring support from friends and family.
He also urges women to ‘be ambitious - don't be afraid to take risks now and then’.
The company has also drawn attention to the dissatisfaction with the support given to female entrepreneurs by the government.
“Many industry leaders concur the government is not doing enough to help encourage female entrepreneurs keen to start their own business,” Robertson says.
“It's disappointing that women are still not feeling adequately supported by the government and the business community when it comes to setting up on their own.”
© Crimson Business Ltd. 2006
