Recently, there has been an increase in women venturing into female entrepreneurship, and they take part in economic development and growth in various countries.
This is a good thing, and because of that, there is an ongoing recognition of empowering and supporting female entrepreneurs.
Programs, initiatives, and organizing business parties aimed at giving access to training, mentorship, and capital for female entrepreneurs are now on the rise.
But still, in some countries, women’s empowerment is one of the major impediments to increased economic development and progress, with most sharing common challenges.
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Common Challenges
Entrepreneurship challenges are difficult to deal with, but what does this mean to be a female entrepreneur today? The challenges female entrepreneurs face every day are enormous.
Although the number of women venturing into entrepreneurship is increasing, they still face challenges. Research shows that men are still outnumbering women, with the ratio being 3:1. Here are common challenges female entrepreneurs face:
- Inexperience – Every entrepreneurship stage depends on prior work experiences and education as well as the related capability of exploiting and discovering opportunities. Although this capability can be higher among skilled and educated female entrepreneurs, the incentives for doing that are still small since highly enlightened and educated women opt for other career options instead of venturing into entrepreneurship. The majority of less skilled or unskilled female entrepreneurs lack the capability of preparing their businesses for growth and survival.
- Cultural barriers – The principles of gender responsibilities still peg back the majority of people in society. Of course, women and men are created differently. But what these people don’t understand is that such ideals are carved in a different world. The idea might have worked before, but things are different today. Don’t misquote me – the work women often do at home is a lot, but it goes unrewarded.
Effective Solutions
In all societies, there are positive changes that are happening to ensure women also have great opportunities for entrepreneurship and work. Some of the solutions and changes that are taking effect are:
1. Training
Training modules help to promote female entrepreneurship in the culture. These modules also help women in business deal with all kinds of entrepreneurship hurdles and steadily achieve success.
2. Solid Support Network
A strong professional network is vital for success in entrepreneurship. Finding a good support network is challenging, but the best place to start is to attend women-organized events aiming for networking, like eWomenNetwork events and Win Conference.
3. Know and Understand Your Worth
It is crucial to know that you are as capable as male entrepreneurs, and the success of your business is simply not a fluke. Always believe in your capabilities, and never hesitate to ask for support whenever you need it.
Believing in Yourself is Key
Your success as a female entrepreneur will surely motivate you to achieve more and work hard in business. This will also serve as an inspiration to everyone around you. Like Michelle Obama, Oprah Winfrey, and Sheryl Sandberg, you can inspire other women to take a plunge and take their rightful places in the corporate boardrooms.
