The report comes on the cusp of a potential change in the workforce. Tens of millions more Americans are expected to become self-employed in the next 2-5 years.
About half of those workers are expected to be women — who have been taking up a greater share of the entrepreneurial world.
“Over the next five years we may witness a historical closing of the gender entrepreneurship gap. Our data suggest that 10 to 12 million women may enter the independent workforce over the next five years,” Lindsay Lapchuk, with FreshBooks, said in a statement.
Men and women tend to seek self-employment for different reasons. While men are more likely to be driven by career fulfillment or money alone, women are more likely to weigh factors such as family balance, better health and less stress.
Women are also more likely to feel like there are barriers to them becoming self employed. Factors like having a steady enough income, having money to invest and having funds to pay off debts.
However, women tend to feel less bound by company loyalty than men, when considering leaving the traditional workforce, the report found.
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Of women who decided to become self-employed, 73% said they have a better work-life balance, 59% of women reported having less stress and 57% felt healthier overall.
To compile the report, FreshBooks surveyed more than 1,500 women who work full-time.