George (1998) argued that risk bearing is a prime characteristic of an entrepreneur. But for the female entrepreneurs, depend on their limited capital; they don't like affording more risks. Through choose the traditional industry, low cost operation and so on, female entrepreneurs try to decrease the risk to the lowest level. For the female, they also will consider the problem of security.
Casey thinks of security factor as first factor to start a business. The Alcester is a smaller place compare with the Birmingham. Setting up the business in there, Casey can get more customers and the dishes can be sold by higher prices. But the Alcester is a safety town there are not so many floating population. It makes Casey feel safety. In addition, China Town takeaway has a 20 years old takeaway before Casey set up it.
To buy an old business is easy than set up a new one, because It has taken the good reputation in Alcester. Fortunately, Alcester is an old town and 90%-95% are local people, who lived the Alcester more than 20 years, and most people know the China Town and some of them became the loyalty customer. Casey believes that there is no risk to deal in this takeaway continuous because she didn't need to find new customer and more security to develop her business.
Try to deal with industry, which have done before, also can reduce the risk to fell. Casey had worked in some hotels and she had a restaurant with her husband in Birmingham before she divorced. According to her previous working experience, she didn't want to find a new or unfamiliar work because of risk and uncontrollable. The most appropriate work to her is to build a new takeaway and using her previous experience to deal with. She believes that this is unique way to build up security and less risk to her, and has ability to take care her son also.
In addition, compare with other business also appear in traditional businessperson, such as clothing business and artwork selling, Chinese takeaway has more mobility and less risk. For example, stock will less than clothing and artwork, and the target market is everybody because nobody could live without food. After discuss with her friends, she plans to manage a Chinese takeaway ensure the security situation.
The services of China Town are not includes lunch serving, delivery and buffet, because the risk will be higher and more responsibilities has to take. According to Jean Bradlley, "businesswomen are asked to put the family home on the line as security... they are less willing to take that risk than men".
"When I find a weakness, I usually fix it by bring somebody in who can do what in can't" (Lore Harp, 1982) Lore also found that women's strength is the strength of other people, they bring in someone else to fill in where they found the weakness of themselves. Compare with male entrepreneurs, female is more likely to support the external professional sources, such as the bankers or the lawyers.
Because they are lack in the management experiences and special skills, professional support can help them solve the problems effectively and increase the quality of performance. Another reason is female haven't enough time to deal with every thing by themselves. They need save time to care the family and children. Such as Casey, when she got the problem, she would go to ask the suggestions from the lower or the banker, which can decrease the risk and save her time.
At same time, compare with male female are more likely to join the courses to improve themselves when they have the spare time. There are also some organizations or the courses are set up, which to help female learn the new skills and knowledge. (Appendix 4)
Female in the non-traditional industry experienced greater financial problems, because they have the lake knowledge and previous working experiences on this area. Depend on the lack experiences and the professional skills, bank is rarely offer them the loan with the enough amount. So, usually, female will choose the traditional industries, such as the food services. But Peter Rose (1994) found women tended to start out with less initial capital in all sectors. So, the female entrepreneurs are willing to use their personal saving or borrow from the friends or families. Because the capital is limited, female owners prefer the cheaper resources.
Casey also uses her personal saving to set up the business. Compare with the restaurant, the take away is a low cost business. It is not necessary to rent a big place and hire many people as the waiters and cleaners. She also made the agreement contract with old owner and lease the house for ten years, but not buying the place. It helps her have more cash investing the performance of the business.
Then, the finance for the ongoing business may be less available for female-owned firms than it is for male enterprises. Female just wish to keep a stable living and have no ambition to earn so much money. It also influences their marketing strategies. Usually, they will use the word-of mother as the major advertising tool, because it is lower or none cost.
Stable/carefully to expend
Some research interview by Agency for Trade and Industry shows that, women entrepreneurs in hotel and catering in relation to those active in business service are more often dissatisfied with the profits of their business - even more often than the male entrepreneurs in the same line of business. More than 70 per cent of the women find that the profits are too small.
On the contrary, the profits of China Town are stable and a little bit increasing from 2000-2003; Casey said she was very satisfied by herself, because the unique objective for her life is "Stable". She said as the special situation for the takeaway business, China Town has stable customer group and no need to attract any other new customers. Moreover, this kind of business is less change and no need to creation and innovation.
In fact, Casey has fully ability to expend two or more takeaway in other area, but she says she won't has the enough time to take care of her son and she didn't want the life just like a machine. For instance, the opening time of takeaway is 5:30PM, Casey can arrange everything before 5PM, which is flexible time can be controlled, such as send-off her son in the morning and back home together before 5pm. She satisfied with her currently earning and enough to live with her son controllable and enjoyable.
Harold (1984) said successful entrepreneurs also are characterized as being able to monitor the environment and a being willing to accept innovations necessary to adapt their organizations to changes in the environment. Compare with male-owned business, most of them are willing to change and face to more risks, because it's more challengeable. The man also has the ambition to expend their business as fast as possible. On the contrary, women entrepreneur are most take care of her family and child, they expect the more stable life than men.
But George (1988) argued that female entrepreneurs needed to achieve. They also desire to experience job satisfaction. Many female entrepreneurs have a high self-esteem and tend to enjoy attaining success. For the Casey, it maybe can achieve when the Alex is grow up and independent. Then she will be free to design the future of herself.