HKU Bulletin May 2004 (Vol. 5 No. 3)

21 20 PEOPLE Women Entrepreneurs in the Making B rought up in the middle of a family business, Priscilla Chu is perfectly placed to capitalize on some inside information when she assesses why women remain Hong Kong’s hidden entrepreneurs in her new book. The Making of Women Entrepreneurs is Chu’s comparative study of men and women entrepreneurs in the territory and the secrets of entrepreneurship with ‘Chinese characteristics’. Management specialist Chu, who received her PhD and MSc from the University, has taken 20 local men and 20 local women and – in return for their anonymity – was given an insight into what makes them tick. She said: “The motivation to write this book is both personal and academic. My family background has seen generations of entrepreneurs, but I am not one of them, so I thought, why? “The other reason is that we have had many books on male entrepreneurs – particularly in the West – but very few about women in Hong Kong.” Chu, an associate professor at the City University of Hong Kong, concent rated the study par t icular l y on indust r ial entrepreneurs, because she believes that this is a segment of the economy that women have traditionally struggled in. She found that one of the key motivating factors for women was to play supportive roles to their husbands, which often means that they take backseat roles while the men occupy the front offic C e. hu said: “Gender quite obviously influences motivation and problem solving; women entrepreneurs tend to be less conscious of ‘face’ and will go around asking for assistance and guidance. “The (company) strategy tends to be more like a life strategy than a business strategy. It is there to provide for the family rather than self achievement.” Chu also noticed a clear difference of approach when it came to the thorny issues of succession. She said: “Females tend to be less hesitant than men on giving up power. Female entrepreneurs tend not to be so attached to it, whereas with men, even with their own children, they are reluctant to give up power.” In a territory with a reputation for entrepreneurship it would seem contradictory that so few women can be held up as role models but Chu believes there are many reasons for this. She said: “If we are looking at succession, it is usually the sons who will succeed and inherit the business. The woman only gets the firm if she is an only child or their brothers would not take up the business. “For women on their own, it is also generally very difficult to get support from the financial institutions. “Moreover, I think that the better educated a woman is the less likely she is to go into entrepreneurship because it is such hard work and too risky. This is not an easy route for people with choice, as the opportunity cost is too high.” u The Making of Women Entrepreneurs by Priscilla Chu Pue Ho, Hong Kong University Press. Self-made Woman Entrepreneur P R tycoon Annie Bentley might shun the limelight in a high profile industry but the University Arts graduate is not afraid of taking risks when it comes to striking out in pursuit of new challenges. Nothing if not versatile, Bentley started her career as an English teacher, moving on to editorial work for publishers in the area of English as a second language before heading up PR and advertising agency Bentley Porter Novelli but there is one consistent theme: get t ing the best out of your T s h el i f s . entrepreneurial spirit saw her turn her back on a wel l paid salary job as a PR boss for a financial house in 1987 and set up her own PR company. Bentley said: “When you work in-house the more successful you become, the bigger the budget becomes and the bigger the cost but you do not make or bui ld anything, you simply serve the same in-house depar tments and the same faces. “You are faced with an in-house structure and strict hierarchy. “But if you set up your own firm you are able to be exposed to a greater number of companies and the challenge is far more fulfilling.” R e f l e c t i n g o n h e r o w n career path, however, Bent ley acknowledges that she is more the exception that proves the rule rather than leading the vanguard of female entrepreneurs. This situation, she believes, is as much generational as it is cultural. She still remembers the barriers erected to women when she graduated in English Literature and Chinese Translation in 19 B 7 e 1 n . t ley said: “For people of my generat ion universi ty education was reserved for boys so the girls who made it to university were the minority. “Women have also been overlooked when it comes to running the family firm because in Cantonese culture women should not be on public display. It would also suggest their husbands cannot support them. “The other reason (that women entrepreneurs are so rare) is a simple one: women have to divide half their active time in their 30s to build a family.” Af ter graduat ing, Bent ley became frustrated as a teacher as she felt she was making very little impact on very few children. The Hong Kong-native moved to the UK and, af ter complet ing a second degree at Oxford, entered the world of publishing in London. On returning to the then colony in 1981, Bentley decided to join Sun Hung Kai Securities – an integrated financial services house – and soon found herself promoted up the PR ladder at the firm. But by 1987, she felt she had taken it far enough. She then set up in that year her own agency known as ‘Bentley DDB Needham’, in partnership with DDB Needham, one of the leading adver t ising agencies wi thin the Omnicom Group, the world’s leading PR, advertising and communications group according to Fortune 500 . She said: “The growth has been organic rather than by referral. We have had to generate our own business and I have enjoyed this challenge.” Certainly her ambition to broaden her horizons has been amply rewarded and Bentley proudly lists a diverse client base that stretches from McDonalds to the Financial Times Index and onto Viagra. All this has come despite the fact that Bentley chooses not to use the publicity treadmill to drum up business. Bentley said: “I want people to be attracted to us because we are the outstanding professionals in our industry.”