3 Obstacles Entrepreneurial Women Must Overcome

By Jennifer Spencer

There’s plenty of reason to believe 2020 is going to be the year of the female entrepreneur. The workforce is becoming increasingly diverse as more women, including women of colour, seek to make their visions a reality and capitalize on it. A study commissioned by American Express reported that, as of January 2017, an estimated 11.6 million female-owned businesses generated more than $1.7 trillion collectively in revenue.

Business people talking in meeting
Business people talking in meeting

However, it’s worth noting that while startup life is obviously never easy, tackling it head-on as a female entrepreneur presents its own unique set of challenges. Thankfully, we are at the cusp of a shift, and these obstacles should soon be a thing of the past. But until then, here are three hurdles worth looking out for, and how to leap over them.

Concerns Over Inclusion

Discourse on social identity has taken the internet by storm. It’s no secret that women in the workforce often fall victim to gender discrimination, thinly veiled or otherwise. Whether during the hiring process or when it comes to payroll, equality is often an uphill battle. Female entrepreneurs, particularly novices, are faced with additional pressures, like being judged as “too bossy” when exhibiting confident traits more commonly — and admiringly — associated with male leadership.

With concerns over inclusion in mind, female entrepreneurs typically operate with a heightened sense of social responsibility, as they create a culture that invites people from all walks of life. Without social responsibility at the forefront of her decision making, the female entrepreneur could face undesired consequences, such as backlash on social media.

Lack of a Support Network

Just as it takes a whole village to raise a child, it also takes a strong network to build a successful company. It’s important for female entrepreneurs to build a professional network that consists of other female entrepreneurs, all of whom will cheer each other on. Oftentimes, they are left out in the wilderness, without much of a network of resources they can turn to.

Having resources to count on obviously plays a key role in the growth of a startup. Whether it’s drafting a strong strategy, looking for actionable advice or making sense of legal paperwork, businesspeople need a wide net of connections.

 

Source: entrepreneur.com

Sign up for Updates

Leave a Reply

Your email address will not be published. Required fields are marked *

Notify me of new posts by email.