Compared to businesses owned by men, some women entrepreneurs have to deal with more obstacles such as having a tougher time securing financing.
Biz2Credit, a New York firm that pairs small businesses with financial institutions for financing, analyzed nearly 14,000 applications from around the U.S. on its platform during the past six months of 2012 and found several nuances that set women-owned businesses apart from men-owned businesses.
Small business loan approval rates for women-owned companies were 15% to 20% lower than they were for male-owned companies, according to Biz2Credit. On average, credit scores for women were 40 points lower than men.
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