12/20/2023 0 Comments Mark nepo freefall![]() For example, we find that the survival rates of both male- and female-owned businesses started in the 1985-1987 time period were considerably higher than those of businesses started in 1980-1982. Finally, our research indicates that issues concerning business formation and survival must be considered within the context of prevailing macroeconomic conditions. We find that prior managerial experience has no systematic positive or negative effects on the survival prospects of either men's or women's new business ventures, however. So at least in terms of education and quantity of work experience, female entrepreneurs are at something of a disadvantage relative to their male counterparts. The survival prospects of both male- and female-owned businesses are greater for owners with 10 or more years of prior work experience and/or 4 or more years of college. Women in both cohorts tended to use less financial capital to start or acquire their businesses than men did, and for the 1982 cohort, business survival is found to be positively related to the amount of start-up capital, other factors held constant. Women's fewer years of general work experience and lesser exposure to managerial occupations may indicate a role for remedial education or mentoring of would-be female entrepreneurs. ![]() ![]() What has been largely overlooked are possible gender differences in the amount and quality of human capital of new entrepreneurs. Female entrepreneurs' access to debt and equity capital has not been overlooked by policy makers. Second, we find that female owners in both cohorts are less likely than their male counterparts to have had any prior managerial experience or to have 10 or more years of general, prior paid employment experience, which may imply that female entrepreneurs are more constrained in the amount and quality of human capital that they acquire during wage employment. First, women's lower average wage earnings may imply more binding financial constraints on the initial scale of women's businesses relative to men's. But there are gender differences in the status of wage workers that, we further hypothesize, could differentially impact the survival prospects of men's and women's new business ventures. In fact, most male and female business owners had some prior spell of employment in the wage sector. We hypothesize that wage employment provides opportunities for men and women to acquire the financial and human capital necessary for success in business ownership. Overall, the mean survival rates of male-owned businesses in these two cohorts are 4- to 6% higher, respectively, that those of businesses owned by women. Second, we use data on cohorts of businesses started or acquired in two different time periods, namely 87. First, we separately examine issues affecting the survival prospects of female-owned businesses, whereas previous studies have focussed solely on businesses owned by men. Two aspects of this study distinguish it from any related studies to date. Our findings are based upon analyses of the Census Bureau's 19 Characteristics of Business Owners (CBO) survey data on a sample of white male and female sole proprietors. In this study, we examine the relationship between owner and business characteristics and business survival.
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