Dell Women's Global Entrepreneurship Study

Written by chicceo Published in

New survey research released by Dell reveals optimism and opportunity for women-owned businesses in the US. 

The survey examined indicators of business confidence, along with their motivations, financing options and sources of support.
 
Highlights
• Women Business Owners in the US feel there businesses are successful and are feeling confident about the future: 96% consider their business to be successful. When asked about expectations for business growth, women entrepreneurs in the US anticipate an average of 50% over the next five years.
• Opportunity for Technology: 45% say their technology needs are getting more complex.
• Don’t Quit Your Day Job: 68% started their business while maintaining their day job.
• Positive Social Impact is Important: 76% believe it is very important that their business has a positive social impact.
• Do it With Others: Spouses were the top source (43%) of advice when starting a business.

Technology
• 8 in 10 say technology supports basic day-to-day operations.
• 3 in 10 say it’s a strategic component of their business.
• 45% say their needs are more complex than they used to be and their technology needs to perform at higher levels, 36% say their technology needs have not significantly changed, 19% say their needs are less complex than they used to be and their technology has scaled down.
• How they handle technology needs:
   Handle it themselves (45%)
   Use an outside company (38%)
   Have a dedicated in-house team (30%)
   Use a freelance technology specialist (19%)
   Use a value-added reseller or system integrator (3%)
   Other (3%)
• Biggest technology needs are cutting costs (44%), data security (37%), and compatibility with software currently used (33%).

Funding
• Personal savings is the top source for funding a startup business (46%); Other sources:
   Family members (34%)
   Banks or credit unions (30%)
   Friends (24%)
   Business acquaintances (15%)
   Venture capital firm (9%).
   Colleagues (12%)
   Government grant programs (14%)
   Crowd funding (9%)
   Angel investors (8%)
   Other (13%)
• Banks or credit unions were the most difficult sources from which to obtain funding
• Family members were the easiest sources from which to obtain funding
• Income (24%) and obtaining a low interest loan (15%) were the biggest obstacles to bank or credit union financing.
• Finding a co-signer and credit history were lesser obstacles to bank or credit union financing.
• On average, businesses need $19,985 in startup capital.


Penn Schoen Berland (PSB) conducted online interviews with 150 female entrepreneurs in the US between April
13th and April 16th, 2012. The survey margin of error is +/-8%.

Original study can be found here: Dell Women's Global Entrepreneurship Study: US Results

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