Information Needs of Female Entrepreneurs

Abstract

INFORMATION NEEDS OF FEMALE ENTREPRENEURS Past research has suggested that women approach the entrepreneurial experience with disadvantages rooted in education and experience. A past tendency for women to study non-business school subjects and to work as employees in soft skill' areas has led some researchers to contend that female entrepreneurs are hampered by internal barriers to success.1 1 Donald W. Bowen and Robert D. Hisrich, Female Entrepreneur. A Career Development Perspective,' Academy of Review (April 1986), pp. 393-407. The effect of such barriers might be expected to be greatest during the start-up phase, when knowledge of a vast array of topics is vital to the launching and survival of a venture. Those who lack background in the language and methods of business may be doubly penalized by not knowing which questions to ask, and of whom to ask them. The purpose of the present study was to assess the experience of a group of 50 female entrepreneurs who, in the early stages of their business experience, fell into the disadvantaged' category in terms of educational background and work experience. A survey questionnaire asked about the business information needs they rated most pressing, and the most useful sources they pursued in addressing these needs. The survey responses offer insights into the needs of female entrepreneurs when first launching a business. RELATED RESEARCH The business literature depicts start-up as a time of near chaos, in which entrepreneurs often grasp at information from sources closest at hand. Franklin and Goodwin's extensive survey of Atlanta business owners found that small business people tend to use and consider most important those sources that are convenient . . ..'2 Stoner found a similar pattern in a study of Illinois businesses.3 Peterson's nationwide survey of 793 business owners and managers uncovered the same unsystematic approach to information and assistance. Assistance most wanted --though least available--concerned such problems as long-range planning. However, sources such as accountants, who dealt largely with current operations, were those most often consulted.4 2 Stephen G. Franklin and Jack S. Goodwin, of Business and Sources of Assistance: A Survey,' Journal of Business (April 1983), pp. 5-12. 3 Charles R. Stoner, Planning in Manufacturing Firms: A Survey,' Journal of Business (January 1983), pp. 34-41. 4 Robert A. Peterson, Small Business Management: Needs and Sources,' American Journal of Business (Fall 1984), pp. 35-45. Studies of female entrepreneurs indicate that they seem to want more information than their male counterparts. An analysis of a sample of female entrepreneurs from Atlanta, Baltimore, and Richmond attributed this need to the women's non-business backgrounds and limited managerial experience.5 Pellegrino and Reece, sampling a group of female entrepreneurs in Virginia, found few start-up problems which the respondents attributed to gender, but 25 percent said that getting information was a critical problem, and 40 percent cited major difficulty in locating sources of assistance.6 5 Richard Cuba, David Decenzo, and Andrea Anish, Management Practices of Successful Female Business Owners,' American Journal of Business (Fall 1983) pp. 40-46. A similar finding is reported in Robert C. Hisrich and Candida Brush, Women Entrepreneurs: Skills and Business Problems,' Journal of Business (January 1984), pp. 30-37. 6 Eric T. Pellegrino and Barry L. Reece, Perceived Formative and Operational Problems Encountered by Female Entrepreneurs in Retail and Service Firms,' Journal of Business (April 1982), pp. 15-25. METHOD The present research dealt with the following issues: Do female entrepreneurs seek different types of information than entrepreneurs in general, and do they consult similar or different sources? …

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