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Factors Contributing to the Rise of Women Entrepreneurs

Factors Contributing to the Rise of Women Entrepreneurs

Factors Contributing to the Rise of Women Entrepreneurs

Did you start all by yourself? Are you able to manage the whole enterprise? Is your husband/parents/in-laws okay with you working this late?

I bet you if you are a woman entrepreneur, you should have faced these preconceived notions at least once in your professional life. No matter how long you have come and how often you have proved the expertise, there will always be people who make generalized assumptions over your professional achievements. 

However, nothing can stop the progression of women entrepreneurship. Studies report that more than 800 women entrepreneurs are arising in the US every day. They contribute to the financial stability of the country through the tremendous progression of their enterprises. In short, women entrepreneurs are the real force shaping the world economy in an unprecedented way since the 20th century.

Through Financial Independence

By gaining overwhelming experience over corporate opportunities, women in this millennium are achieving financial independence like never before. This self-stability helps women to set clear and realistic financial goals such as the initiation of a new business, recruitment of efficient staff, and the accomplishment as global providers.  

Besides, many banks in the public and private sector have introduced various specialized loans and finance alternatives for women entrepreneurs. These offers come with several financial advantages including lesser interest rates, unnecessary of collateral, and flexible terms and conditions. Bank loans thus resolve the biggest roadblocks of unavailability of financial assistance and prompt more women to take this untraveled path. 

Better Access to Renowned Mentors 

With the advantages of the technologically advanced work environment, women entrepreneurs in this age are entitled to access professional mentors online and offline. This communication with experienced female entrepreneurs assists women to move up with a comprehensive understanding of their career (including advantages and disadvantages) as an independent businessperson.  

In addition, women entrepreneurs today are in an endeavor to communicate with peers at trade. They offer an opportunity for peers to learn how to address challenges in an informed and guided manner. This unleashes a wide opportunity for the development of an international dynamic platform for business and networking. This platform builds a powerful network beyond gender and sectors.

Influence of Role Models 

Role models have immense importance in our professional and personal life. They inspiration to take up challenges by busting stereotypes and myths. In this millennium age, we are surrounded by a thousand of women entrepreneurs who have crossed the boundaries and achieved their goals. Inspired by successful women in business such as Sheryl Sandberg, Angela Merkel, Melinda Gates, and Oprah Winfrey, women at any age are now taking the wheels in their hands. 

Changes in Social Outlook

From the role of ‘responsible’ homemakers to global corporate leaders, womanhood has attained a drastic transformation over the years. One of the prominent reasons accountable for this incremental evolution is the changing perception of society towards gender-defined roles and expectations. Unlike the past, now the society encourages women’s efficiency in executing a business strategy.

This transformation has opened a gateway to the broader opportunities for women entrepreneurs to lead each business sector related to the welfare of other women. The women-led enterprises are ranging from female healthcare centers to the automation industry.

Closing Remarks

Women entrepreneurship has been making substantial progress over the last two decades. Thanks to the above factors for the contribution of thousands of female faces in the global entrepreneurship. 

As per studies, the contribution of women leadership in all US businesses stagnant at 39 percent in the last year. This means the crop up of women entrepreneurs is still less than the one-half in the US. In short, women entrepreneurs are yet to traverse miles in the path to success.