3 BIG CHALLENGES FACED BY WOMEN ENTREPRENEURS
Every day women are building and running lots of companies. But being an entrepreneur isn’t easy from cash flow to marketing problems, business owners have to overcome a lot of obstacles to become successful and this is especially true for female entrepreneurs. Even though there are more women entrepreneurs than ever before but it doesn’t mean that these hard-working women are on a playing field.
Women have made great strides in the business field, but they still face problems because they are traditionally dominated by men. The research proves that women are better at taking calculated risks, less prone to overconfidence, and more ambitious. But as a female entrepreneur, they are facing lots of challenges. Let’s get into the big obstacles:
- Lack of Funding: Studies between 1997 to 2000, consistently find that women-led businesses receive less outside funding than businesses led by men. Women, on average, raise smaller amounts of financial capital than men and this is because most industries are male-dominated where men make all the decisions when it comes to the financial side of things.
Female entrepreneurs can face frustrating challenges like not being taken seriously or being treated differently than their male counterparts with equal credit when they ask for a loan. However, it is the reality that many women are facing and for now, it’s important that women keep the bias in mind when considering their funding option.
- Family and Work-Life Balance: Research shows that 7 out of 10 mothers in the USA are dealing with the anarchic work-life balance that comes with both parenting and managing a career. It’s no doubt that all mothers know the struggle of having an insuperable task that is raising children. Outsiders may pose judgment for them ‘not being good enough’ because they’re busy at another work and even it feels like women entrepreneurs just can’t win.
Striking a balance is, so tough, even for the best-intentioned mother, and it’s very important for a working mother to cut herself some slack when it comes to her mastermind juggling.
- Lack of Role Models and Mentors: If we take a look to find evidence of the gendered nature of entrepreneurship in the U.S., we can easily find several names, all-male that come to mind including Bill Gates, Steve Jobs and many more. In contrast, successful women entrepreneurs are much less visible, particularly in the type of male-dominated high-tech fields. A number of studies have found that women have lower levels of self-efficacy than men and women’s belief about their own capabilities may be tied to their willingness to pursue entrepreneurship as a career option. One group of scholars found that women were significantly less likely to believe that they had the skills necessary to launch a firm and had a higher fear of failure.
If you are an aspiring female entrepreneur, you need to find a mentor or mentors who have launched a successful agency and know the ropes. They have found ways to get through your stresses, strains, and dark moments from your entrepreneurship journey.
However, the future of female entrepreneurialism is certainly bright. There are more successful female entrepreneurs than ever. While women may face many challenges along their entrepreneurial journey, the rewards are worth the effort. In spite of that, we see the next wave as a celebration of what determined women entrepreneurs can achieve. They are “The next Wave’’ and we can all learn from their experience, example, and success.
If you have any questions, let me know and I’ll help you start or scale your startup business. To find out the details please join my Facebook Page/Group and connect with me.
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