Using quantitative and qualitative research methods the Nasdaq Entrepreneurial Center, Penn State University, and the University of California, Berkeley captured the lived experiences of Women Business Owners (WBOs) across multiple social, cultural, and environmental factors. Our research approach was informed by our 2022 Pay, Ownership, and Valuation for Women Business Owners which identified four insights (Access to Capital, Cash Flow Break Even, Food Insecurity, and Cost of Healthcare and Childcare).

This research catalyzed a deeper understanding of how the lived experiences of women business owners influence success factors such as (1) cash flow break-even, (2) speed to cash flow break-even, and (3) access to capital. This analysis produced unexpected results including a reverse correlation between pressure (i.e., paying rent or mortgage) and success (speed to cash flow break-even). Additionally, the top positive factor for Speed to Cash Flow Break-Even was paying yourself.

Research Timeline:

• March – April 2023: Partnered with the Institute of Governmental Studies, The Robert T. Matsui Center for Politics and Public Service University of California, Berkeley where students conducted 31 semi-structured interviews with WBOs
• March – June 2023: The Center surveyed 860 WBOs in our community
• February – April 2023: Partnered with GoDaddy to access data from 1,721 WBOs respondents from their Venture Forward US Survey
• April – October 2023: Produced the analysis below that identifies key positive factors across thematic variables

This research was possible thanks to the generous support of the Wells Fargo Foundation.