Thursday, October 19th, 2017

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Women Respond to Challenges When Starting Businesses

Getting a business off the ground can be tough for women - but they're rising to the occasion.Bootstrapping a company is challenging for anyone – countless entrepreneurs have seen their ventures fail to get off the ground. But women may face particular challenges in starting their own companies.

According to a poll commissioned by JAFRA Cosmetics International, a direct seller of beauty products, 40 percent of women say they would struggle to start a home-based business because they must care for their home and their children. And, as a result of those burdens, all the women who responded to JAFRA's poll said managing their time effectively was a challenge.

Still, women are adapting to the roadblocks that life puts in their path. Between 2002 and 2007, JAFRA says, the number of women-owned businesses grew by 20 percent. In addition, 56 percent of the female small business owners that the cosmetics company surveyed said they had started their own company to gain more control over their life.

In personal finance as well as entrepreneurship, women appear to be gaining new confidence. This year, insurance company The Hartford says, 70 percent of women are participating in a workplace-sponsored retirement plan – 9 percentage points more than last year.

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