Women have been seen as the lower gender for ages. Women did not have a fraction of the independence that they now enjoy because of predefined societal roles and patriarchal ideals. They have tirelessly battled for their rights, and today, women rule the globe. They have built a name for themselves in every area, from culinary arts to business, and from theater to science and technology. Today, women have excelled in disciplines that were formerly exclusive for males alone.
Women today have gained a voice they never had before, thanks to the advent of feminist groups. They are capable of fighting for equality at all stages of life. They have more access to and possibilities in education and work. Women are increasingly starting their own businesses from the ground up. Female entrepreneurs will be the fastest increasing segment of the entrepreneurship sector by 2022, with roughly 252 million female entrepreneurs globally.
Female entrepreneurship has shifted the traditional workplace ethos. Women-owned businesses have an important role in creating additional job possibilities for the country’s citizens and increasing the country’s GDP. It has also had a favorable influence on poverty and social marginalization. Today, female entrepreneurship has made a significant contribution to the country’s economic progress. Numerous studies confirm the enormous influence of female entrepreneurs on economic growth and development.
However, there are still some underlying problems of women entrepreneurship which exist within the realm of business. There is a significant disparity in the number of men and women entrepreneurs worldwide. Numerous personal and professional issues have prevented women from attaining success as entrepreneurs, despite their persistence, devotion, and hard work.
Here are a few problems of women entrepreneurship that women confront while beginning or running their businesses:
Problems of Women Entrepreneurs
1. Unconscious Gender Bias
The term “unconscious gender bias” refers to “unintentional and automatic mental connections based on gender, resulting from traditions, conventions, values, society, and/or experience.”
This aspect has provided yet another hurdle to the advancement of female entrepreneurs. With gender norms being a key component of Indian society, culturally assigned prejudices against women are a deeply ingrained phenomena that has infiltrated not just men’s but also women’s thoughts. As a result, women frequently undervalue their own abilities and strengths, preventing them from obtaining the chances they deserve. Because women are unable to fulfill their full potential as a result of these prejudices, they miss out on significant opportunities. Even in the most progressive organizations, women may face gender prejudice while attempting to advance and assume leadership responsibilities. According to one survey, four out of every five working women (85%) have experienced gender bias in the workplace when it comes to pay raises, promotions, or job offers.
Having an unconscious gender prejudice allows for fast judgments of women’s abilities. This leads to judgments that are frequently adverse to women.
As a result, it is critical to dispel preconceived assumptions and deviate from society conventions in order to provide equal chances to female entrepreneur’s opportunities for innovation, economic growth, and job creation.
2. Balancing Responsibility
Regardless of the growing knowledge of overcoming gender stereotypes, women are still viewed as the major caregivers for their families. A woman’s family is frequently regarded as an extension of herself.
Women, unlike males, are assigned specific timelines for major life events. The woman must marry at a particular age, become a mother within the next few years, and put the demands of her family over her own for the remainder of her life. This outdated mindset may still be found in Indian families today.
As young women get older, they are given the responsibility of motherhood. As a result, they have difficulties devoting time to the advancement of their professions, effectively halting it. Women struggle to strike a balance between the responsibilities of looking after their family and their profession. This is due to the fact that owning a business is a time-consuming undertaking to say the least. Furthermore, traditional prejudices have made women feel guilty for choosing their career above their families. This guilt forces them to adhere to their gender roles, therefore ending their careers.
As a result, women have enormous problems in breaking free from societal pressure and establishing their businesses, and many times fail to accomplish so
3. Lack of Professional and Support Network
A strong network of professional and personal supporters is required for a successful entrepreneurial enterprise. Because many women live secluded lives, they do not have the opportunity to create contacts. Consequently, they have limited opportunities for successful network growth.
Furthermore, the lack of major mentors and a support team to motivate and assist them toward a successful business prevents women from venturing outside of their comfort zone and operating a successful business. As a result, attending entrepreneurial and networking events might help you find the proper professional and support team.
4. Lack of Education and Industry Knowledge
Despite reforms in the education sector for women in India, approximately 60% of women in the country are illiterate. This might be attributed to a variety of causes, including traditional parents’ attitudes regarding educating a female kid and a lack of equitable educational options.
As a result, women are oblivious of technology breakthroughs, economic progress, and corporate expansion. Furthermore, many sectors will not hire women who lack the requisite educational or job qualifications.
One of the most important qualifications an entrepreneur may have is previous experience operating a successful firm, or employment experience in a comparable area, or at the very least the appropriate certificates. Many women in the country lack any or all of these. This makes it difficult for them to start a profitable business.
Regardless matter whether a woman entrepreneur possesses the qualities and skills necessary to flourish in business, a lack of education and inadequate exposure becomes another impediment to her success.
5. Poor Funding Prospects
Starting a firm from inception, like anything else, needs adequate financial resources. Women frequently lack the financial wherewithal to invest in their businesses. Women frequently do not obtain material or financial assistance from their families for their entrepreneurial enterprises. They may also lack access to finances, real estate, or other financial assets that they may use to establish their firm.
Furthermore, despite women demonstrating their ability, many business titans may be hesitant to engage in a company endeavor run by a woman. According to research, investors would rather invest in a presentation made by a man than a pitch delivered by a woman, even if the content is same.
Clearly, there are substantial problems of women entrepreneurship that women must overcome in order to run a successful business. However, it is your drive and enthusiasm, supported by your clear goals that will make or break your business adventure. Furthermore, establishing a business in the proper field that allows you to overcome the aforementioned hurdles might be helpful for women. And a career in the direct selling industry can provide you with exactly that. The direct selling business combats and overcomes the aforementioned problems of women entrepreneurship faced by female entrepreneurs. Furthermore, it instills in them the attributes of confidence, intellect, bravery, and responsibility, propelling them to be powerful, self-reliant, and successful women.
