How an entrepreneur goes about solving challenges varies, but data from Mercator Advisory Group and Mastercard highlights how, on average, there are differences between male and female owners in their approach to solving some small business challenges.
To better understand the topic, PaymentsJournal sat down with Ginger Siegel, Mastercard’s North America Small Business Lead. During the interview, Siegel helped unpack the data, spoke about the importance of small businesses, and outlined Mastercard’s approach to help them thrive. She also offered actionable advice for aspiring female entrepreneurs.
Differing viewpoints on growth
Data from Mercator Advisory Group reveal that when asked, “what is your personal outlook to your firm’s revenue in 2019?,” women owners tend to be more optimistic about their company’s growth potential than male owners.
Siegel said findings like that are interesting and that part of explanation can be found in what motivates owners to initially start a business. She said that, on average, female entrepreneurs are more likely to start a business because of …