Business advisory services and risk among start-ups and young companies: a gender perspective

Abstract

Purpose – This study aims to investigate the demand for business advisory services by owners of start-ups and young companies by taking a gender perspective. The study also examines whether risk-taking is more characteristic of masculine than feminine behaviour in this context. Design/methodology/approach – A literature review examines business advisory services and risk aversion from a gender perspective. The empirical data are derived from interviews with owners of more than 2,700 start-ups and young companies in Sweden. A number of key variables compare how the company owners (women and men) view business advisory services as a way to overcome risk and to gain access to information in networks. Several statistical tests are used to analyse these data. Findings – Women owners of start-ups and young companies use more and different business advisory services than men owners. There are differences among the men owners and women owners with regard to the amount of start-up capital, company size and industry sector. Given the risks associated with start-up, business advisory services are important to women in helping them reduce their risk in the start-up and early stages of their companies. Research limitations/implications – Companies in Sweden’s largest city, Stockholm, were not included in the sample. Financial data were not used as variables. Practical implications – Policymakers should address women owners’ greater demand for business advisory services in their companies’ early stages. Originality/value – This study’s originality is its gender perspective on the demand for business advisory services by start-ups and young companies and its challenge to previous findings about entrepreneurial behaviour and risk-taking.

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