Women Are Starting More New Businesses, But Struggling for Financing
- Fed study finds male-led firms receive loans at higher rate
- Female entrepreneurs also reported weaker credit scores
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An increasing number of women are starting their own businesses, which should surprise no one given the recent reports of sexual misconduct and discrimination at big companies.
But even when women are their own bosses, the playing field isn’t level, according to a released on Thursday by the Federal Reserve Banks of New York and Kansas City. Only 22 percent of women-owned firms have revenue exceeding $1 million a year, compared with 36 percent of male-owned firms, according to the study.