January 17, 2019
Although the statistics show the number of female-run businesses is steadily rising, the fact remains that women entrepreneurs are still somewhat overlooked and neglected in today’s tough, competitive business arena. As a leading female perspective is still significantly less present in entrepreneurship (when compared to the male presence, in almost every industry), starting a business and making it successful is still a demanding challenge for many women brave enough to get into that ambitious venture.
What do female entrepreneurs and women holding leading company roles find the most difficult about the situation called “women in business”? Here are the five most challenging aspects of running a venture some of the most successful female CEOs singled out.
1. Dealing with competition
One of the most demanding challenges an entrepreneur can face is overpowering tough competition. Depending on an industry, the pressure can range from mild to extremely strong, and for female entrepreneurs, this pressure is often something they characterize as the most difficult thing they needed to deal with throughout their careers.
2. It is a man’s world
Although there are more and more successful female leaders and entrepreneurs as time goes by, there is no doubt that the business world is still highly male-dominated. As men are traditionally more commonly seen in higher management positions and are seen as more “professionally credible,” the support they get when turning to entrepreneurship seems to be more adequate than it’s the case with women founders.
3. Juggling business and family
A lot has changed since the mid 20th century, when women started entering the workforce and went from being housewives to becoming employees. However, the challenge of making a delicate balance between family and business life is still a pain point for many female entrepreneurs. Juggling business and family obligations is a heavy duty, and more often than not, female founders find it very difficult to make it work.
4. Lack of necessary funds
Running a business requires more than just a vision. If the venture isn’t backed up with adequate funding, keeping the business afloat becomes a challenge that is very hard to overcome. According to the survey conducted by Women Entrepreneur, it is less likely for female entrepreneurs to raise $100,000 or more in funding, which makes it a lot more difficult for them to rent an appropriate venue, keep enough employees, and cover the necessary expenses.
5. Insufficient opportunities to learn
One of the most important aspects of an entrepreneur’s life is working on constant personal growth. Learning about the industry, novelties and breakthroughs, as well as working on one’s professional skills are essential for any founder who wants to make it in today’s fast-paced business world.
Unfortunately, in some countries, women are still often denied the right to a higher formal education, which leaves a toll on their business opportunities. This means many women must find another way to educate themselves. Luckily, the Internet era is in its full glow, so the help is often closer than we think. Professional academic writers from trusted platforms such as Aussiewritings, Essay Writing Land, UK Best Essays, and Scholar Advisor can prove to be of great assistance to women looking for a way to step up their self-improvement game.
6. Not enough self-confidence
Entering the calculated, male-dominated business world that offers little sympathy and provides little help leaves a toll on many women founders. They begin to doubt themselves, and they often find it hard to speak well of their accomplishments or the success of their ventures. Luckily, more and more female entrepreneurs are getting a hang of this, trading a meek attitude for a self-respecting mode that can push them further.
7. Emotional approach
When it comes to making important decisions at work, women, unlike men, are more likely to behave as they would in personal life: with sincere emotion and strong devotion. Although passion and emotional commitment are women’s strong suits that are good for business, the tendency to react emotionally rather than rationally often leads to work-related issues that are not typical for male business founders.
There’s a lot of talk about empowering and assisting women in their efforts to build a successful business, but it seems that the progress in these areas is still insufficient to encourage many potential female entrepreneurs to “take the plunge.” Female entrepreneurs still have to face many challenges, and for most of these, they don’t get enough support along the way. The pressure is strong, and for women aspiring to achieve success and independence in business, the lack of self-confidence and adequate mentors only makes the situation more difficult. However, although it may seem that the world is not ready to fully embrace female entrepreneurship just yet, more and more successful business women worldwide seem to be ready to prove it wrong.
Becky Holton is a journalist and a blogger. She is interested in education technologies and is always ready to support informative speaking. Follow her on Twitter.