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Dr Pomme Theunissen: “Women are as good at entrepreneurship as men. They just do it differently.”

Men and women alike are good entrepreneurs. Yet in 2022, only 36% of Dutch entrepreneurs were women. Dr Pomme Theunissen, who grew up in an entrepreneurial family and is now a researcher at the School of Business and Economics, wanted to know why. Her conclusion: it’s not a lack of skills, but a confluence of societal patterns, prejudices and division of labour. So what exactly is going on?

Theunissen got her first taste of entrepreneurship at a young age. “My mother’s side of the family are mainly academics, while my father’s side is full of entrepreneurs. I like to think I combine the best of both worlds,” she jokes. “My father would always bring business home, we’d talk about it around the kitchen table. That’s what sparked my interest in entrepreneurship."

Gender differences between entrepreneurs

Theunissen obtained her PhD in 2022 for her research on the challenges and opportunities for women in entrepreneurship, with a focus on securing funding as a female entrepreneur. “Being an entrepreneur isn’t easy. We know that female entrepreneurs have, on average, more hurdles to overcome than men,” she explains. “That fascinated me. Both men and women have the qualities needed to start a business: an appetite for risk, innovation and a strong work ethic. Yet women are more likely to face barriers.”

One major obstacle, she notes, is access to financing. “Women often find it more difficult to convince banks to back their plans. They generally find networking more stressful. And traditional gender roles still play a part—many women with children find it harder to step away in the evening for networking events, whereas men typically face fewer challenges in that regard.”

Better able to deal with setbacks

At the same time, the data shows that female entrepreneurs perform just as well as their male counterparts. “For instance, bankruptcy rates are the same for men and women,” Theunissen points out. “However, women often run different types of businesses. They tend to work in the service sector, operate in highly competitive industries and are more likely to be self-employed, often without staff. On average, men run larger companies and tend to have employees.” 

That women are less likely to scale up their businesses occasionally leads to prejudice. “Some might say they don’t want to grow or aren’t willing to take risks,” Theunissen says. But in her view, this approach has its advantages. “Female entrepreneurs may earn less than men in good times, but they often get through downturns better. With lower costs and no payroll obligations, they’re better able to deal with setbacks.”

Breaking down barriers

If women have the right entrepreneurial qualities and are often successful business owners, why are they still less likely than men to start their own companies? This is a hot-button topic that not only Theunissen is interested in. The European Commission has made increasing the number of female entrepreneurs a priority. 

For that to happen, beyond improving access to finance, women also need more role models. “Research shows that women with entrepreneurial parents or a female entrepreneur in their network are more likely to start their own business,” Theunissen says. “But not everyone has those examples to look up to.” 

Research from Germany also suggests that women are more likely to become entrepreneurs when they have time to reflect on their careers. “Until 2001, German mothers had three years of parental leave. In 2001 that was reduced to one year,” Theunissen says. “What happened? After 2001, fewer German women became entrepreneurs. It seems that having those three years of reflection time and a financial safety net gave them the confidence to take the leap. If you give women the time and space to plan and prepare, they’ll start a business—even while raising young children.”

“If you give women the time and space to plan and prepare, they’ll start a business - even while raising young children.”

Dr Pomme Theunissen

Number of female entrepreneurs increasing

Incidentally, the number of female entrepreneurs in the Netherlands is on the rise. In 2013, a total of 441,734 women ran their own business. By 2022, this number had jumped by 62% to 715,383, according to figures from entrepreneurs’ network Business Women Nederland. 

Theunissen hesitates to speculate on the exact reasons behind this increase. However, she has noticed that more mothers are recognising the benefits of entrepreneurship. “Being your own boss is an advantage when you have kids. It’s easier to coordinate your working hours with school or childcare schedules. And when the children are sick, running your own business gives you much more flexibility.”

Highly educated women who hit the glass ceiling in traditional employment are more likely to strike out on their own, she says. “Many of them become consultants or coaches, which gives them that higher position but also allows them to increase their income.”

Goodwill factor

And there’s more good news for women. They may have more difficulty securing bank financing, but women are actually more successful than men at crowdfunding. Theunissen thinks this comes down to how women present their ideas on crowdfunding platforms. “When women choose entrepreneurship, they commit to it 300%, and that passion inspires confidence among the ‘crowd’ [i.e. potential investors],” she explains. “Plus, women tend to perform better in a crowdfunding campaign than in a traditional bank setting, where they have to convince a single loan officer bound by a strict protocol.” 

Impact of menstruation

Theunissen’s interest in female entrepreneurs remains as strong as ever. She is currently studying the impact of menstruation on entrepreneurial decision making. Together with colleague Jolien Huybrechts, she is investigating how different phases of the menstrual cycle influence female entrepreneurship. “We find that women tend to be more proactive and willing to take risks after ovulation. So they find it easier to network in that phase of their cycle than when they’re in their menstrual phase.” 

Tips for aspiring female entrepreneurs

For women with entrepreneurial ambitions, Theunissen offers the following advice:

  1. Don’t hesitate—just go for it! Women are just as capable as men when it comes to entrepreneurship. The challenges you anticipate may not be as daunting as they seem.
  2. Assess the possibilities. If you see roadblocks, take a step back and evaluate whether they can be overcome. Create a business plan or talk to another female entrepreneur—chances are, you can achieve more than you think.
  3. Seek support. You don’t have to build a business alone. There are plenty of resources available to help you get started. For example, the Chamber of Commerce offers advice and brainstorming sessions at little to no cost.
  4. Believe in yourself. Too many women stop at “Maybe one day I will …” and never take the leap. Don’t let your idea sit on the shelf. Women have incredible potential and valuable entrepreneurial skills—trust in yours and take the first step!
     

Text: Romy Veul

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