Title: Increasing Women’s Involvement in Team-Based Entrepreneurship
The study reveals that team-based entrepreneurship, defined as the pursuit of a new business idea by two or more individuals who share ownership and are involved in its management, is a popular model among ambitious start-ups. 41% of these start-ups have two or more entrepreneurs involved in launching the business. Prior studies have indicated that team entrepreneurship has a collaborative nature suitable for leveraging diverse talents and leading to a resilient business venture. Co-founders bring varied and complementary skills, share the workload, and provide emotional support to each other. However, team entrepreneurship also comes with challenges, such as conflicts, communication issues, and decision-making delays, which must be carefully managed for successful collaboration.
Why do so few women start team-based ventures?
The study also highlights the low level of team-based entrepreneurship among female founders. While 49% of new businesses with more than one founder consist of all-male teams and 36% have mixed-gender teams, only 15% of team-based ventures are all-female. This disparity could be due to gender bias, stereotypes, limited networks, family responsibilities, funding disparities, and a lack of role models. Efforts to increase women’s involvement in team-based entrepreneurship should focus on promoting diversity, addressing bias, providing support networks, and ensuring equal access to resources and opportunities. This will help address cultural expectations, risk aversion, and educational gaps that may hinder the participation of women in team-based entrepreneurship.
