WOMEN-led small businesses in Northern Ireland are less likely to be exporters, and female business leaders are less likely to consider investing and expanding than their male counterparts, a new study has said.
The latest Ulster Bank Boost Index has revealed that over three quarters (78 per cent) of female business leaders surveyed said their company does not export, compared to 58 per cent of male business leaders, while 18 per cent of women said they were likely or very likely to consider increasing levels of investment by their business, compared to 38 per cent of men.
Almost two-thirds (63 per cent) of female business leaders said that they were not at all willing to consider increasing their business’s borrowing levels compared to less than one-third (30 per cent) of their male counterparts.
In terms of exporting 72 per cent of female respondents said they would not be willing to increase their business exports compared to just half of males, while a similar disparity was noted for willingness to increase staff numbers.
Overall, the research found that SMEs in Northern Ireland are currently in relatively good health, with 38 per cent having increased sales in the past 12 months, and most of the remainder (53 per cent) having seen sales stay the same.
More than half of firms (54 per cent) said that they had experienced growth in the past year, with most of the remainder describing their business as stable.
Lisa McCaul, business growth enabler at Ulster Bank, said:
“When it comes to exporting, part of the differential between men and women can perhaps be explained by the types of businesses being led by each, with a higher proportion of females leading services business; however, this certainly doesn’t explain all of it. Other studies internationally have found that female CEOs tend to be associated with lower levels of risk taking. This is not necessarily a bad thing, but it is important to understand that there are risks inherent in doing business and being an entrepreneur and some of these risks are acceptable if managed properly."
