While we cannot deny the fact that women have started and managed to start their own businesses in the last decade, there are still some struggles that women entrepreneurs must face. Although changes over time have led to the emergence of more than 252 million women entrepreneurs around the world, they still struggle to overcome the challenges they often face. About 1/3 of the world’s entrepreneurs are women, and they have never looked better on paper. Unfortunately, these numbers only tell part of her story, and men still run a large part of her business. Like most sectors in the world today, gender norms are greatly affecting the business ecosystem and posing huge challenges for women around the world.
The following are some key points that highlight the various differences that women entrepreneurs face around the world:
Social expectations
In a society where women are stereotyped that they should stay at home and focus all their attention on the family, they’re often caught. By others. Lookdown, because they are to take risks and start a business for themselves. Not only that, even after establishing their own business, they often spend more time than their male counterparts in gaining the trust and recognition of the public.
Lack of funds
It is often said that “money is for a business just like food for the human body. It is vital for any business, large or small.” Unfortunately, at this age, even women have proven their worth and people still have a hard time believing and hesitating to invest in companies founded by female entrepreneurs. It is also disappointing that banks do not believe that women are trustworthy because they think they can leave their business at any time. Therefore, women entrepreneurs have no choice but to depend on their savings or seek financial help from their family members.
Lack of support
The lack of mentors and consultants is another major setback for women entrepreneurs. According to a survey, 48% of female entrepreneurs said that the lack of mentors and consultants restricts their professional development. In a world where high-end businesses are dominated by men, it is difficult for women to excel in their careers if no one shows them the right way.
No business network
According to a survey, women are not part of a business network, which helps them build a network to grow their business, find customers, partners, suppliers, network, etc. This is for enterprising men. It is natural, but women do not belong to these networks. Lack of self-confidence-Many women struggle for self-confidence and need help understanding their skills and the value they bring to businesses and organizations. Oftentimes, women tend to underestimate their abilities, so they need a lot of support to gain confidence and understand their value.
The balance between personal and professional life
There is an obvious rule that women around the world must take care of their families and run successful businesses. It’s important to find the right balance between the two, but unfortunately, in our society, women must pay more attention to family than to career.
Establish market access
This is a challenge for all entrepreneurs, especially women entrepreneurs because their network is usually small, so they do not have many opportunities to enter the market in the beginning. It has been observed that when it comes to the challenges faced by women entrepreneurs in Indian cities, the biggest consensus is that these challenges stem from the socio-cultural concepts that define the roles of women in Indian society.
Although these concepts must change and are definitely changing, the focus must also change to improve the ease of doing business for women entrepreneurs, whether it is easier to obtain loans or to help them obtain better social opportunities. With that said, I also strongly believe that this is the age of women and women entrepreneurs. In the final analysis, whether you are male or female, as long as you are motivated and passionate, your goal is backed by a solid plan and anyone can score.
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