Businesses with female founders outperformed their male-only counterparts universally. This interesting finding came out about female founders in a recent report from TINYpulse. According to the report, “The fastest-growing companies that logged 200 per cent plus growth over the past year are 75 per cent more likely to have a female founder. In fact, in all but one growth category, companies founded by women outperformed those of their male-founded counterparts. TINYpulse has chosen 100+ startup founders and thousands of their employees for the findings of this survey. The report also revealed that transparency is another major driver of revenue and staff growth.
You can see in the below given image, how female-founded companies showed stronger growth.
Unfortunately the number of companies with female founders is very less. According to another recent report from Crunchbase, there are just 17 per cent of venture-backed companies in the 1st quarter of 2017. Surprisingly, this percentage is same since 2012- just leaving 2015, when it was 16 per cent.
Some Other Interesting Insights from the same Report
Here is a quick review of some other interesting key findings from The 2017 Annual TINYpulse Start-up Report:
Having Multi Founders Does Not Impact Growth
There is a saying that “Too many Cooks Can Spoil the Broth”. It is true not just in case of cooking but in the businesses too. Having single founder is pretty cool, but according to the same report the companies with multi number of founders do not significantly impact growth rate. It is really overwhelming if your company has multiple founders as it help in a number of ways.
Startups who Prioritize Culture, Don’t Compromise on Talent Hiring
When startups look for culture fit talent, they do not compromise during hiring. Prioritizing culture also reduces unplanned attrition. Startups who rated the importance of culture the highest had lower unplanned attrition rates. However, maintaining employees and culture it is not easy for startups as ideal candidates are difficult to find out.
Transparency Empowers Startups
Another key finding is that company leaders typically felt their culture was performing better – in terms of transparency, valuing employees, etc. – than employees did. Startups often feel considerably more positive about their operation than does the rank and file.
Aah! All worth for me from all these findings is the “Companies Grow Faster with Female Founders” as it overpowers gender inequality. So, I would like to request all smart women to come together to nurture and support the startup ecosystem.
Click here for complete report
[Top Image – Shutterstock]