Women face hurdles and sexism in almost every sphere of life, including work. Men have traditionally dominated entrepreneurship: globally, only one in three businesses are owned by women. Gender equality is a significant problem to solve. It is the fifth point in the United Nations Sustainable Development Goals (SDGs), a collection of global goals to be achieved by 2030. However, due to the challenges female entrepreneurs face, most women find it daunting to enter the profession. Only a few shatter the glass ceiling.
Women’s strive for equality need more representation in businesses and start-ups. Without understanding and solving female professionals’ barriers, the world cannot achieve gender equality. Some significant challenges female entrepreneurs face include the following:
Defying Social Expectations
Women are considered homemakers in several countries and are discouraged from working. Female entrepreneurship is prevented by the cultural framework, which causes disparities in the rate of female entrepreneurship in different countries. As an Indian entrepreneur, Ritika Singh, discusses, society expects women to be in touch with their emotional side instead of furthering a career. Female entrepreneurs have to construct a ‘stereotypical male’ persona; competitive, calculating, and devoid of emotion.
While male entrepreneurs struggle with the technical aspects of entrepreneurship, female entrepreneurs also have to bear the brunt of unjust societal expectations. The thought of social shunning is scary and discourages women from becoming entrepreneurs.
Balancing Work and Family
The social norms associate caring for children with the mother’s duty, and working moms are no exception. Female entrepreneurs have to manage their family life with their careers, a dilemma male entrepreneurs rarely face. Female professionals often have to quit due to pregnancy or to raise a child, which can set back their careers in the short term. Balancing careers with family is a significant hurdle for working mothers, and it often discourages women with young children from working.
Working women require the full support of their husbands and extended families to balance their work and family. Fathers should take care of the children when the mother has business commitments instead of leaving childcare entirely to mothers. With a supportive husband, the family can become a support network instead of a hurdle for working women. Consider this interview with career growth coach Shivangi Reja, who credits her success to her husband and family.
Struggling to Be Taken Seriously
Female professionals are underrepresented, which causes established entrepreneurs not to take them seriously. Workplace sexism is a major issue that results in working women being unable to do their job and considering quitting. No matter how skilful a female professional is, she will often have to face mansplaining from male entrepreneurs. Female entrepreneurs must justify their skills and qualifications at every step and still struggle to be respected and taken seriously. Such toxic work culture can affect the individual’s mental health and give her confidence issues.
To overcome this, working women must learn to build their confidence and avoid negative self-talk. Consider joining support groups for female professionals, as it can help keep negative thoughts at bay, and friends and family can also become your support network. Go the extra mile in marketing themselves, and a female entrepreneur photographer can help.
Funding Disparities
Female-run startups are less likely to get funding from investors, no matter how well-thought-out and brilliant their idea is. Pitching to a venture capitalist to fund your startup is challenging, and women also carry the weight of their gender. The number of female-owned startups receiving venture capital funding is declining, even as the dollar surges. Making this is a structural barrier working women have to face.
Investors look for businesses they think can grow, and women-owned businesses are generally less likely to be valued at more than the $1 billion benchmark due to female entrepreneurs’ challenges. The existing barriers to female participation in businesses contribute to this problem. Venture capitalists also fund people from their own ‘tribe,’ and the lack of female venture capitalists leads to fewer women-owned startups receiving funding.
A solution to this issue is an increase in women’s solidarity in business. Female investors should prioritize funding women-owned businesses as they are less likely to receive funding elsewhere. Strategic collaborations between women-run startups can also help.
Endnote
Women face sexism on all fronts, including at work. Female professionals are rare due to the structural barriers they face at work. These barriers not only hamper the careers of existing female professionals but also discourage aspiring women from becoming an entrepreneur.
Gender equality is a long-term goal set out by the UN, but there is a great need for awareness about women’s challenges in their careers. Increased awareness can influence societal norms and get female professionals the respect they deserve.
