Women Who Own Small Businesses Face Significantly More Struggles

October is National Women’s Small Business Month and there is no better time to celebrate the success and accomplishments of women everywhere.

People start their own business for many reasons. Freedom, passion, or to be their own boss for a few examples. But more women than ever start their own business so that they can be treated with the same respect and worth as their male counterparts.

In a recent study performed by Groupon, 851 female small business owners were surveyed and asked questions about being a business owner. The results of the survey highlighted a struggle that women business owners face in starting their own businesses. But that is just where the struggles begin.

According to the study, women faced 71% more obstacles than males in owning their own business. Some of the top struggles for women included balancing family life and “motherly” duties, social expectations, struggling to be seen as serious, and even access to loans and funds. A stunning 34% stated that they had to get the capital for their own business through a personal savings account or IRA vs more traditional ways of small business loans and investors.