“The National Women’s Business Council (NWBC), which advises the President, Congress, and the U.S. Small Business Administration, initiated this research to better understand the reasons behind the general lag of women‐owned business growth, as compared to firms owned by men. Other studies had indicated that, on the whole, women and men approach entrepreneurship differently. In order to assist women, and the nation, to advance economically, the NWBC looked to the research to provide insights on key considerations when reaching out to women entrepreneurs to encourage maximum growth of their businesses.
The research conducted to address these questions included a literature review, as well as focus groups and telephone interviews with 81 women entrepreneurs from three metropolitan locations in the United States. The research centered on questions about three key attitudinal areas associated with business ownership and growth: risk, motivations, and expectations. The research team also listened for instances where culture could be influencing behaviors or experiences.
The participants were organized into four segments of women business owners groupings that were defined by the research team based on the literature review: (1) having high‐growth expectations, (2) having moderate‐growth expectations, (3) having children at home, and (4) making frequent use of outside advisors. The owners were placed into one of these segment based on their responses to screening questions. All participants came from industries defined as high growth nationally by the Bureau of Labor Statistics to maximize the likelihood that each had the potential to readily grow. In addition, participants had to have an interest in growing their businesses and have more than one employee (i.e., own an employer firm)” (p.1-2).(Abstractor: Author)