Women Small-Business Proprietors More Likely to Get Bank Finance

A recent study by Yellow Pages Australia Small Business Index survey has challenged the stereotype of women facing difficulties in accessing bank finance. The report, which surveyed 1300 men and women small-business proprietors, found that women are more likely to get bank finance, with a 94% success rate compared to 85% for men. Additionally, 84% of women were satisfied with the performance of their bank, whereas 77% of men were. The study suggests that women are more realistic in their expectations for business growth and are just as confident as men in their abilities.

Key Takeaways:

• Women small-business proprietors have a higher success rate in applying for bank finance (94%) compared to men (85%)
• 84% of women are satisfied with the performance of their bank, while 77% of men are
• Women are less likely to feel constrained by difficulties in obtaining finance, with 24% strongly agreeing with the statement, compared to 33% of men
• Women are more likely to believe that women in business are more competent (35%) and harder-working (72%)
• A pleasant personality is seen as a key factor in achieving success by women, while experience is most important for men
• Lack of aggression is the major factor that would limit success for women, while lack of finance and aggression are equally important for men

Statistics:

• 94% of women apply for bank finance and are successful
• 84% of women are satisfied with the performance of their bank
• 77% of men are satisfied with the performance of their bank
• 24% of women feel constrained by difficulties in obtaining finance, compared to 33% of men
• 35% of women believe that women in business are more competent
• 72% of women believe that women are harder-working

Sources: