Women in Entrepreneurship
Over the past years, the emergence of women entrepreneurs have been evident. Women have proven time and again with utilisation of leadership skills recessiveness and innovative ideas for economic and social development. There has been a rise in recognition and acceptance of women in leadership positions in the corporate sector.However, in spite of all these developments, there are only a few companies where women can be seen in the top position. Moreover, a huge gender pay gap in different organisations is still observed clearly.These examples suggest that gender inequality is still a big problem in businesses.Women are accepting entrepreneurship and are successfully leading businesses, facing and overcoming various challenges.
Opportunities and Advantages for Women in Entrepreneurship
•A diverse and innovative workforce is now being prioritised by different organisations and top companies. people from different backgrounds including gender culture age and race promotes innovation and creativity and bring in varied experiences with them which shape their approach to business. Challenging and collaborating with each other helps in better development of the company.
•Strength in soft skills and emotional intelligence is an advantage for women.Technical skills and knowledge are essential for success but so are emotional intelligence and soft skills as well. Emotional intelligence in leadership means self-awareness, empathy, and the ability to listen. Therefore, women can utilise these qualities for taking the company forward.
•The corporate culture of many companies can work against women. But when a woman leads her own company, she has the ability to establish an environment suitable for other women working in the company.
Challenges for Women in Entrepreneurship
•Most of the industries are male dominated. Therefore, it becomes a challenge for a woman to give directions to men and it has also been observed that men are offended working under a woman. While most corporates believe in gender equality, and agree that the best person, irrespective of gender, should get the job, but gender discrimination at workplaces is a very prevalent subject.
•Finding investors who can invest in startups is a difficult task. It can be even more difficult in case of women-owned firms. Many investors think that women entrepreneurs won’t be able to lead their company towards success, as a result of which they may incur losses. This may lead the investors to hesitate in financially supporting women entrepreneurs.
•Another major hurdle and challenge for female founders is the lack of efficient advisors and mentors which limits their professional growth. The majority of the high-level business world is still male dominated and it is very difficult for women entrepreneurs to build connections into some of the top-notch business networks.
Even in this highly competitive business environment, women have made their place as entrepreneurs successfully. They have proven time and again that they are no less than their male counterparts in accomplishing the organizational objectives and in taking their company to the heights of success. Though they have been successful in their efforts, they have been through various difficult situations and have tactfully dealt with them. Therefore, it's time to promote women in entrepreneurship.