September 15, 2005 6:39 PM

Attention women entrepreneurs
Posted by at 6:39 PM

According to Mellody Hobson, Good Morning America's personal finance expert, there are 9.1 million women-owned businesses in the United States. And even though only 6 percent of women-owned businesses have revenues of $1 million or more, entrepreneurship is still the best route to becoming rich:

For those women considering starting up their own businesses, knowing which factors promote success is important, but it is equally important to understand why businesses fail. The No. 1 reason is poor management, followed closely by poor financing. Additional contributing factors include lack of experience, competition and low sales.

Read the entire article.