If women start more companies than men, why do so many more of those companies stay small? Caution, lack of the right kind of networks and a focus on income generation rather than wealth generation seem to be key factors.
...economic conditions don't explain why woman-owned businesses, regardless of location, tend to grow more slowly and plateau sooner than those owned by men, said Jeff Bergeron, managing partner in Ernst & Young's Detroit office.
...lack of access to capital is a primary hindrance to many woman-owned businesses.
...Paula Sorrell, managing director of entrepreneurial services for the Michigan Economic Development Corp., said lack of access to capital is a primary hindrance to many woman-owned businesses.
"Everybody is treated the same when they come to the state for assistance," she said. "Where there is a gap is in private equity funding for woman-owned businesses. Generally, this is because most private equity is run by men."
However, the gap is starting to be at least partly addressed in Michigan, Sorrell said.