Did you see the record number of women among Australia 100 fastest growing start-up companies?
Huge congratulations to these admirable role-models featured on the just-out BRW Fast Starters list.
There are 18 women chief executives and 38 (or 20%) female founders—but as the Australian business magazine points out, this means women are still under-represented among Fast Starters.
The inspiring 18 women CEOs run companies in fields as diverse as electrical cabling wholesaling, immigration law and online retail to photography and recruitment. That is triple the number from the previous year.
And of course, big congratulations to the men among the list, too.
THE DOWNSIDE
BUT it was also interesting to see the downside—the lack of life work balance.
As the report put it: ‘A common characteristic of the owners of fast growing businesses is their unrelenting work ethic.’
Translated, this means:
- Nearly one-third of the entrepreneurs on the list clocked up more than 60 hours a week
- Another third devoted between 50 and 60 hours a week
- 66% admitted to being contactable at all hours every day
Here’s some of that downside spelt out:
- More than 40% experienced anxiety and 4% depression since starting
- More than 30% relationship stresses (including divorces)
- 13% reported some degree of loneliness
Their solution?
Many business owners who suffered burnout or similar said reconnecting with their family and friends and achieving a greater work life balance were crucial to their recovery.
BRW reporter Kath Walters says of the women: ‘Today’s fast women are younger, more hopeful, more ambitious, more comfortable with risk.’
Let’s hope they’re also ensuring they have some life work flow, too!
