Small Biz: Do female business owners tend to make better choices in locating the business?
Wednesday, January 31st, 2007I recently read a survey that compared the market factors that men and women prefer when looking for a location to open their business.
Here is what the report said that women-business owners prefer in their target markets:
- Low crime rate
- Low property tax rates
- High household income
- Modest real estate prices
- Rapid population growth
- Pedestrian-friendly
Here is what the report said that male-business owners prefer in their target markets:
- pro-business government
- having a major city nearby,
- high quality of life
I haven’t thought enough about the differences to draw any solid conclusions, but I did notice that the factors important to women business owners were a lot more defined than those important to men. Not only are they more defined, but they all appear to be key factors in generating immediate cash flow or providing immediate access to customers.
I have read (but have never seen quantified studies) that it is harder for female enterpreneurs to get financing than male enterpreneurs. If that is true, then perhaps the female owners try to compensate for the greater unavailability of financing by locating their business closer to clusters of potential customers.
On the other hand, the opposite may be true - perhaps because women business owners are better at placing businesses near their customers, they have a reduced need to seek out financing.
Women-owned businesses account for half of new startups in the U.S, and 1 out of 11 women own a small business. If you are thinking about starting a business in 2007, it is best to consult with a small business lawyer to discern the legal obstacles and opporturnities you may face.
The Attig Law Firm represents small businesses and those seeking to start a small business in Texas.