It’s the social debate we’ve been having for centuries: who’s tougher, men or women?
Well, according to new research by tech firm Reckon, female business owners are trumping their male counterparts in the resilience stakes by a considerable margin.
In a study of more than 1300 entrepreneurs, 51 per cent of men reported that the admin and red tape of running a business was killing the dream that made them start, however this was true for just 41 per cent of women.
Such resilience is likely having a negative impact on the health of these women though, with 53 percent of respondents saying they would sacrifice their wellbeing when under pressure, compared to 47 percent of men.
Further startling statistics revealed that the average business owner in Australia is achieving just 4.5 hours of sleep per night which is around half the number of hours recommended by health professionals. While 13 percent of respondents admitted to completing their payroll and admin before 6am.
According to Reckon data, admin and red tape is costing the average Australian small business $14,857 each year– a total annual cost of more than $20.2 billion.
As we head to a Federal Election on May 18, this news should serve as the impetus for government to act and alleviate some of this strain on small business owners who serve a vital role in the health of our economy.