Category: Business Written by: Daqeeq Date: 18 Aug 2021
Women in Business 2021 Challenges
Although we cannot argue against the fact that women have begun to form enterprises and have been successful in the last decade, some of the challenges that women entrepreneurs confront continue. Regardless of the passage of time, which has resulted in over 252 million female entrepreneurs throughout the world, they continue to struggle to overcome the hurdles that they confront on a daily basis.
With women accounting for around one-third of all entrepreneurs worldwide, things have never looked better for them on paper. Unfortunately, these figures only tell half of the truth, as males continue to control a sizable portion of the industry. Gender norms are impacting the ecology of entrepreneurship and causing enormous hurdles for women all around the world, just as they do in other sectors of the globe today.
Here are a few examples of the challenges that women entrepreneurs encounter throughout the world.
In a world where women are stereotyped as being expected to stay at home and devote their whole attention to their families, society frowns upon them if they venture out and develop a profession for themselves. Not only that, but even after starting their firms, they sometimes take longer than their male colleagues to earn public confidence and reputation.
Lack of Funding & Capital
Money, it is frequently said, is to a business what food is to the human body, and it is essential for any firm, large or small. Unfortunately, even after women have proven themselves time and again that they are more than capable, many still find it difficult to believe and reluctant to invest in a company endeavor founded by women entrepreneurs. It is also disheartening to observe that banks do not regard women as creditworthy since they assume they can abandon their businesses at any time. As a result, women entrepreneurs have little choice except to rely on their resources or seek financial assistance from family members.
Lack of Support
A company’s difficulty or failure may be caused by a lack of an adequate support network. Women have the most difficulty seeking assistance, whether it is due to a lack of proper contacts or a need for financial or social assistance. They will require the assistance of counselors and supporters to help them navigate this new path. The support system is sometimes too expensive, prompting women to postpone starting their own businesses.
Men reject female mates who are more professionally competent than them, or who are more intelligent, more trained, or have a higher occupational position. Women have a tendency to minimize behaviors that contribute to their own professional success out of fear of unforeseen repercussions.
As much as we despise to admit it, the business world is still regarded as a male-dominated business. As a result, women entrepreneurs face challenges and are not always regarded seriously. Some individuals are unable to accept a woman as their leader because of masculine egoistic concerns that persist in our culture. It makes it much more difficult for women to earn the respect they deserve.
Balancing Work & Family Life
This point once again highlights our erroneous society and cultural views. A lady does not come with the title of housekeeper. Our culture frequently makes women feel bad for spending more time at work. However, if a man is in a similar situation, he would be commended for working so hard to provide for this family. This is where female entrepreneurs face the difficulty of having to rush back home, limiting their growth. Women have more freedom in the business sector, but there is no disputing that they will not be chosen for significant initiatives due to the perception that they must be at home.
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