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By Maham Abbasi, Edited by Adam Rizvi, TIO: Women entrepreneurs, just as entrepreneurs, are those women who generate business ideas or select the best opportunity, mobilize resources, combine the factors of production, undertake risk and operate the enterprise in the most effective ways with a new to earn profit. Today, the world sees over 252 million women entrepreneurs around the world, who are still struggling to overcome everyday challenges. More women are starting businesses and the number of women entrepreneurs is on the rise. Even though there are positive results, women are struggling to survive in the business community given their challenges.
The social expectations from women are stereotyped and it is often looked down upon for them to go out there and establish a career for themselves. If we don’t talk about a problem it does not necessarily mean that the problem is non-existent. Women’s businesses are among the leading ventures that lack financial support.
It is also common for women to be denied loans because of gender and cultural biases. Half of the population in the world continuously faces the problems of inequality in every field, whether in government or non-government organizations and particularly face the problems for leadership roles because society has evolved into believing many stereotypical images of both men and women that are nothing but negative. A lot of women have begun to participate and lead for the greater good of others around, where women are working with their full potential because they believe Female leadership matters. All other concerns aside, it results in better performance and the greater good of the entire community. According to many studies in different parts of the world, it has been seen that organizations with greater gender diversity, are more profitable. So, one answer to the question “why is women’s leadership important in our world?” is simple: it gives us better results. But as good as it looks on the outside, it is still adversely affected by different cultural paradigms and stereotypes. We internalize a certain set of associations with being a woman compared to being a man. That impacts our confidence when it comes to stepping into leadership roles.
There is an underrepresentation of women in leadership positions in all sectors all over the world. We also know that women have now come parallel to everything that was once considered out of their domains still women entrepreneurs are facing many different problems in different parts of the world. As of 2017, more than 11 million U.S. businesses were owned by women, employing nearly 9
million people and generating $1.7 trillion in sales, according to the National Association of Women Business Owners but access to funding has been a big challenge. At one time or another, most women CEOs find themselves in a male-dominated industry or
workplace that does not want to acknowledge their leadership role. Some of the more general problems include scarcity of raw materials marketing and infrastructure problems. There are negative comments that have with time built up in our heads and stopped us from reaching our full potential. To combat them, one can now join a variety of women entrepreneur groups that provide mentors and peers, inspire you, and help you grow and learn from their perspectives and experiences. Some of the other problems faced by women entrepreneurs are socio-cultural barriers, market-oriented risks, discrimination, and domestic responsibilities. One in four women entrepreneurs surveyed by WeConnect International stated that the increased domestic demands placed on women in India and other countries, during the pandemic-induced lock-downs have minimized the time they dedicate to their businesses.
Women’s education and development are one of the most important assets for our world today and we should learn to value women’s creative ideas and knowledge, encourage their
confidence, and support them. I cannot emphasize enough the fact of building a support network. A good support network is essential for entrepreneurial success and once you find
your network of supporters, don’t be afraid to ask often and be clear about what you need. You never know who can help. If you don’t ask, you won’t get it. Women are a diverse bunch and
the individual decisions and choices we make – or have made for us – about stepping up to more roles are as unique as we are and all in all the reality only suggests we do step up and lead
the way. It’s about time for the world to recognize the benefits of women in leadership, and commit to placing even more women in positions of power.
Compiled and Curated by Humra Kidwai