Anyone faces significant challenges when they are going to run a business. But, if the case is for women entrepreneurs, there are extra difficulties. Women face common management challenges and harassment due to their gender. The power of women in business has grown in recent years, but this remains an outstanding issue in many parts of the world.
In this article, we list some of the main challenges faced by women entrepreneurs. Good reading!
Main Challenges Women Entrepreneurs Face Globally
Let’s check out some of the main challenges that women entrepreneurs across the world are facing:
#1. Double journey
Usually, many women entrepreneurs already perform a large volume of domestic activities. Therefore, they are always finding new ways to balance home and work. This double journey represents a significant challenge for them.
#2. Society’s prejudice
Machismo is still very present in society, and this is one of the biggest challenges for all women, especially those who decide to open their businesses. Women entrepreneurs are still viewed with suspicion and disbelief by many people, who believe they are too sensitive and lack the necessary firmness to run a successful business.
Due to this, it is common for women to need a much greater effort than men to prove their ability and worth. In addition, prejudice can undermine women’s self-esteem and self-confidence and cause them to become discouraged or give up on their purpose.
#3. Insecurity and fear of failure
Insecurity and fear of failure are common emotions for anyone who ventures into a business of their own. For women, these feelings are compounded by society’s distrust- the consequences of machismo – and they take on even greater weight.
For many people, tackling a new project and stepping into the unknown is exciting and encouraging. In these cases, fear and insecurity become a source of motivation and energy to work even harder. But, especially for women, there is a risk that these feelings can be intense enough to paralyze them.
#4. Double working hours
In addition to the emotional effects of machismo, there is also a practical consequence that hits entrepreneurs hard: overwork. That’s because, even with all the advances, women are still primarily responsible for caring for the house and children, even if they have a job or business.
Reconciling the two journeys is complicated and turns your routine into something heavy and stressful. As a result, their activities at home and work are hampered.
#5. Difficulty positioning yourself as an entrepreneur
People often disbelieve in women entrepreneurs because they believe they lack the characteristics needed to run a business successfully – such as toughness, courage, and confidence. It is believed that “more rational” men are better entrepreneurs than “more emotional” women.
Sometimes, it is difficult for women to position themselves as customers, suppliers, or employees. Some convince themselves that they are incapable of being good managers. Others try too hard to fit in with social expectations and lose themselves.
#6. Limited Qualification
A woman’s journey to business success begins with empowering her with knowledge. Unfortunately, women in some parts of the world may have limited access to this information and emerging knowledge. Due to the competitive environment, women take the extra step to find relevant, practical information.
#7. Lack of incentive
Another challenge women face is the lack of incentives from the people they live with and society at large. This is partly due to sexism, also called gender discrimination. Because of this, the entrepreneurship ecosystem can often be unrepresentative, resulting in an environment that is not inviting for women to exhibit and develop their projects. This is especially true in male-dominated industries such as technology.
We are living in a moment of transformation in society, and the challenges of women entrepreneurs are still many. But they cannot be seen as insurmountable obstacles but as sources of motivation for you to commit even more to achieve your dream. Get inspired by successful women, observe our tips, and believe in your potential!