Melbourne, June 11 : A new study has revealed that women are better business communicators than men.
The study led by Westpac suggests that women are much more likely than men to consult other business owners and business partners, as well as family and friends, when they want advice and support for financial and business decisions.
While businesswomen were more open to learning from the experience of their business colleagues, men were more likely to adopt a solitary approach to seeking advice.
Larke Riemer, Head of Westpac's women's markets said that women seem more prepared to share their experiences with each other, and less likely to rely on systems or processes.
"Traditional channels such as accountants and independent financial advisers are still the strongest information source about running a small business, particularly for issues such as GST and other tax issues,'' News.com.au quoted Riemer, as saying.
"Women and men are about equal here, but when we looked at advice sought from business owners or partners, 37 per cent of women used this expertise, but only 6 per cent of men,'' she added.
The findings revealed that almost 22 per cent of women were more inclined to seek advice from family or friends, where only 16 per cent of men used this group.
Moreover, a quarter of females mentioned their bank manager, or someone else from the bank, as a key source of advice.
"Women are effective at developing support networks - potentially for reassurance - and this is really relevant when they are starting a business,'' she said.