Risky Business: Women-owned Businesses Less Likely to go Bust
If you are worried about how your business will get through the credit cruch, take heart from some new research. A Guardian report based on research by Tenon Recovery shows that men are two and a half times more likely to file for bankruptcy, possibly because they are “less efficient at running their finances”. The firm said anecdotal evidence suggested women were less likely to fall into insolvency because they were more efficient at tasks such as keeping financial records and collecting payments.
“Women’s strong organisational skills could go some way to explaining why they are better at managing their finances than men,’ said Carl Jackson, head of Tenon Recovery.