While there’s never been a better time for female entrepreneurs, there still seems to be a business gender gap, with many women facing particular challenges that their male counterparts don’t.
The Exception rather than the Norm
It’s a fact that female-led businesses are still a minority in the business world and many women feel that they have to prove themselves in a male-dominated environment such as a professional networking event. This means that they often cannot be themselves and are under pressure to be as competitive and aggressive as the men they meet.
Access to Funding
Pitching a business idea is always daunting, but it seems that raising capital proves more difficult for female entrepreneurs. According to The Telegraph women still don’t receive an equal amount of investment. This could be because many venture capitalists are men and prefer to invest in businesses run by people they identify with.
But female entrepreneurs whose companies are already off the ground and who are looking to expand could consider a franchise my business scheme and support other women who are struggling to raise capital. There are many franchise my business consultancy firms that can advise on expanding a business in this way.
Not Being Taken Seriously
Even in the 21st century, female CEOs complain that they are often not taken seriously in a leadership role, particularly in male-dominated workplaces and industries. They often have to spend longer earning the respect of workers and combating assumptions about why they are in that position.
Support Networks
As mentioned previously, it can be challenging for women to have access to large professional networks, which means they have less access to experience and the possibility of expansion. Thankfully there are now several female-focused networking events, where female business leaders can share knowledge and expertise.
Work-Life Balance
Although many men also face this challenge, women still take on the bulk of childcare and family commitments. Flexibility is key to success, otherwise one or the other has to give. Often this is why women choose to start their own businesses, allowing them more freedom.