You might not be able to believe that women account for one-third of the total number of entrepreneurs worldwide. According to the prediction of the Census Bureau, the percentage of women entrepreneurs will increase to more than 55%. If you are a woman with a little bit of interest in entrepreneurship, then this era of women entrepreneurs will definitely attract you.
A Norwegian newspaper published a report on why so many women are leaving their company and setting up a new startup. On the other hand, an American site tried to know why the percentage of women entrepreneurs is so less. Both these topics are from different angles but their central point of attraction remains with women entrepreneurs only. So, let’s get deeper into this topic of discussion and pull out some interesting facts.
What are Reports Saying About the Era of Women Entrepreneurs?
Though women are considered to be risk-averse, a study quoted in BBC News 21 in February 2011 changed this idea. More women were found to be running their own company and achieving higher ranks in the society. Again a new channel broadcasted how women entrepreneurs are working twice as likely as their male counterparts. Moreover, they are going through big challenges like health issues, divorce, and changing locations as well.
Some self-reliant women have agreed that women, in general, possess less self-confidence and experience in self-promotion. They also added that it is not enough to be self-employed and support your own livelihood. Women, in fact, need the self-confidence to keep moving forward and achieving whatever they are supposed to do. A good dose of resilience and courage can help women overcome all the struggling phases in their lives.
Inner negative voices might force you to stay behind but, you must motivate yourself to keep going. So, what is attracting women to join the entrepreneurial industry? Or are they still risk-averse? These questions need to be answered if we really want more women to take part in this new territory. In case the same questions are striking your mind, then calculate risks associated with this profession. Then, try to make your own decision instead of going through an authorization process. Talk with other women regarding freedom and flexibility. You will easily find your own answer and lead a happy life ahead.
The Evolution of Women Entrepreneurship
Women had gone through a struggling phase for establishing their identity. Thus, we must get some ideas before moving on to the present scenario of women entrepreneurship.
The textile industry, the national railroad system, and the telegraph witnessed a boom in the nineteenth century. Women started working in private and government organizations. A few numbers of women succeeded in establishing their own companies. But, those companies were within the preview of the women sphere. Then after a few years, the industrial revolution led to a progressive era for women. As a result, some women were able to redefine their place in the economy.
The Federation of Business and Professionals Women Club provided advice and organized workshops for inspiring women entrepreneurship. In 1932, numerous women entered the workforce to execute their patriotic duty. Whereas, others started small businesses and grew them gradually. After the 1950s, several women helped magazine publishers in understanding the changing economic roles of women. Apart from this, the American Stock Exchange got its first female governor.
In the 1970s, the feminist movement began to protect the rights of women. Therefore, it is difficult to ascertain how many women lost their job during the recession period. Only entrepreneurship was the only means to rescue women from that pathetic situation. Martha Stewart and Barbara Bradley emerged to be top business owners in the 1980s and 1990s.
The US government has also developed the Small Business Administration to assist female entrepreneurs worldwide. In addition, organizations like the Women’s Business Development Centre supported upcoming women entrepreneurs with financial help and other resources. The advancement in technology persuaded more women to showcase their skills. The economic downturn in 2008, created temporary obstacles for women. However, the phase of modernization continued to boost the power of women.
What is the Current Status of Women Entrepreneurs?
Developing countries believe that women’s empowerment is fundamental to earning development. Thus, they provide both financial and other means of support to women. Most of these women return the benefit of their income to their families. The European Professional Women’s arranges IT Network information meetings for entrepreneurs. Even they have developed special clubs for entrepreneurs as well.
Governments in various countries are conducting supporting programs for raising their women population. Despite assistance from multiple organizations, women entrepreneurs are still struggling to establish their business ventures. Education programs are also trying to create awareness and instill the feeling of entrepreneurship among women.
How Can Women Entrepreneurs Support Each Other?
Existing or potential women entrepreneurs can come together and work for mutual benefits. They can even discuss deeper challenges and take advice from each other. This can be inspiring and motivating if entrepreneurs coach each other on fears, challenges, and hangups. Always think that you are not the only person who is trying to establish herself.
The highest-ever number of female Fortune 500 CEOs was recorded in 2014. Women with minimum financial support can also try to encourage homemakers for setting up their own businesses. Women running specialized organizations can seek to bring women together. The women must collaborate with each other for the betterment of their business.
The work-oriented view of businesswomen helps other women to earn their livelihood. So, if women want, then they can support each other with whatever they have. In short, women must refuse to distinguish businesses from their lives. Then only the era of women entrepreneurship will create a history for the countries to where they belong.
We have started entering a new era of women entrepreneurs as indicated by the global trend. Therefore, we can speed up this trend by finding a supportive infrastructure for women. Furthermore, we need more role models who will encourage the women population. However, this might not be too pleasant for medium and large enterprises. Therefore, keep your female talent happy so that they don’t leave your organization for a solo career.