- A report has revealed that women-owned companies don't make profits as much as men
- Tony Elumelu Foundation made the report indicating that men make more profit in their bussinesses
- It was also stated that more women are entrepreneurs than men, as the gender gap rise
New report has shown that women-owned businesses are less profitable than enterprises operated by men. It was gathered that men are profit oriented while women are mostly not.
This was stated in a research study by Tony Elumelu Foundation, which partnered with Stanford University. 140,000 entrepreneurs participated in the research between 2015 and 2017.
According to findings from the survey, men put profit before any other thing, but female entrepreneurs put social impact above profit, and this is tied to their business decisions.
During the survey, women talked more about the impact of their business on people than they did on their company's profit, but the case was different for the men who care about gain.
The TEF programme report also stated that capital problem make African entrepreneurs to limit their innovations or business ideas, while access to funds push them into expanding their ideas.
It was also stated that more women are entrepreneurs than men operating small businesses. This shows more women are becoming their own bosses and switching the gender gap in business.
Meanwhile, Legit.ng had previously reported that Amazon is cracking down on some Chinese companies for trying to cheat their customers and the e-commerce company.
The Chinese merchants are said to have paid some customers to leave positive reviews on their products, while they also create fake accounts to make fake orders and leave positive reviews.
Product reviews influence product listing on Amazon. Eleven Chinese companies were reportedly affected by the clampdown of Jeff Bezos' company.