Business owners that are owned by women are more financially sound and risk-averse that those owned by males, according to research conducted by SimplyBusiness.co.uk.

The data showed that male entrepreneurs cost insurers 60% more to provide insurance cover for than those firms owned by women.

The study revealed that less than a quarter of female entrepreneurs have had a company cease trading, be taken into administration or be declared bankrupt in the past, compared to over a third of men.