Addressing the Lack of Diversity for Women Entrepreneurs

women entrepreneurs

Entrepreneurship has been on a rise in recent times, with India becoming the third-largest startup ecosystem in the world. It is one of the most challenging professions, as it evolves around creative vision, and innovative and out-of-the-box methodologies, adding the risk included which not everyone is happy to take. Harder still is the life of women entrepreneurs who face stiff competition, secure finances and fight back to stand with what they have made in the male dominant society.

Businesses owned by women are grown by 20 % in the last five years, while men-owned businesses are grown at the rate of 10%. However, only 3% of Indian women have access to formal financial institutions while the rest face challenges with inadequate financial education, narrow social perspective, and very limited access to resources.

Women entrepreneurs are on the rise, but every woman faces crisis and struggles to keep up. Stay tuned, we are going to talk about the challenges that women face on daily basis.

Funds Are Always A Question:

“Women entrepreneurs deserve equal access to capital and funding, regardless of gender or cultural biases, as their potential for success is not limited by their financial limitations.”

Not every business owner is fortunate enough to have investors or financiers for their businesses. Some of them have to bootstrap their ventures, relying on credit cards, and bank loans or simply raising capital on their own. However, women’s businesses are among the leading venture, but they lack behind due to financial support. Banks and other funding companies deny loans based on gender and cultural biases, and financial support is a question.

Juggling Between Two Spheres:

“Balancing two lives as a woman is like walking on a tightrope. With determination and resilience, you can cross the rope and find success on both sides without falling.”

Every woman has two lives. One inside the house with her family, spouse, and children, and another one outside those four walls as a professional. There is lots of pressure on the women to balance both of them or just go with one of them, leading to financial dependence, depression, and trauma of being unworthy. The family expects her to be the perfect mother, wife, and daughter, while her business is calling out for opportunities to grow, excel and show her style of commitment. Some women can balance the two spheres, while others feel overwhelmed with the burden

Risk Of Failure:

“Take risks, embrace the unknown, and trust in your capabilities. Success takes time, but with persistence and determination, you can break free from the chains of fear and achieve greatness.”

Every entrepreneur running a business has the fear of failing and falling. There is always room for risks and entailed unforeseen circumstances. Never fear failure, you will never be able to try if you cannot see yourself beyond failure. However, there is no sure guarantee of success. It’s with time the world gets to see your growth.

This fear of known and unknown is commonly found in women entrepreneurs, especially when people around judge their capabilities. This fear is very toxic, leads to trauma, and women end up operating from a place of fear instead of confidence, and as a result, businesses don’t work even if they were meant to be successful.

Lack of Support system:

“Behind every successful woman is a strong support system that fuels her commitment to achieving her dreams.”

Every business works on two mantras. Support and Commitment. One person cannot handle everything, and nothing can work without commitment. Women’s world would be amazing if they had the perfect support system. However, it is always otherwise. Women tend to face the greatest challenges in getting support, from lacking relevant connections to financial access or emotional support. Women also need mentors and sponsors as a guide toward their new goals.

Gender Inequality:

Everything in this country is biased and built upon the patriarchal foundation. From Law to culture, religion, or politics. Everything works in the favor of men, whereas women have to match the masculine world while facing stigma and discrimination. Men entrepreneurs are more respected than women because of their success rate and growth. But they forget, a woman is just not burdened with one responsibility.

“Breaking patriarchal chains demands collective effort. Women must be supported in their endeavors and allowed to dream big, for their triumphs benefit all.”

Spouses and parents should allow women to dream big, support them in their endeavors, and also compliment them for the hard work she puts in. It’s just the little push women need to bring out that multitasking feminine in them.

Societal Fear And Protection Of Their Own:

Women and social fear go hand in hand. For long years, women are taught how to fear society for anything they do. It’s like keeping society first before their own needs. However, time is changing and women have learned to dream big and accomplish them. The world will always put women down for whatever they do. However, it is best to leave the comments behind and work towards triumph.

“Women have learned to dream big and accomplish them despite the fear society instills in them.”

Women working without social support are always worried about their safety. Late-night traveling can be a concern and worrisome for women. Women safety apps like I’m Safe is designed for women and women entrepreneurs to leave behind safety issues and concentrate on their businesses. This app has some exclusive features like SOS, Track Me, fake calls, and anonymous recording in case of any emergency. The app is also available for organisations to support their women employees with features like anonymous reporting, Org help, night shift safety and more. With the I’m Safe app, your safety becomes a priority, adding value to your career and mental health.

How Can You Balance Your World With Ease?

  • Jot down the aspects that need attention.
  • Talk to your partner. Partnership starts from home.
  • Ask for help. It’s okay to seek help from people you love.
  • Hire house help and cook for your family.
  • Divide work between your family members.
  • Schedule your day with a timetable.
  • Take power naps. They can refresh you and your thoughts.
  • Hit the bed early so rising early is easy.
  • Leave the mother’s guilt behind. A mother can be career oriented too.
  • Take up daycare for your little bundles or hire a nanny under camera surveillance.
  • Pre-prep your meals.
  • Take up meditation seriously. It can bring in lots of patience.

Being financially independent is a dream to achieve, owing to the motivation to work harder and achieve higher in business. Also, women business owners should be provided with access to resources, a safe and secure environment, and gender-unbiased roles.

“Let’s pave the path to confidence and growth, while one woman leads, others follow”.