Celebrating Women Entrepreneurs
Despite a lot of emphasis being placed globally on achieving gender equality, being a woman entrepreneur is still measurably harder than being a male entrepreneur. Today, we are celebrating the valuable role that women entrepreneurs play in society and explaining why it is well worth investing in them!
We are very proud and grateful to have talked with so many women entrepreneurs. And though we believe that you can be a successful entrepreneur regardless of your gender, it’s important to remember that the reality is way more challenging. And it’s our goal to bring more diverse voices to the Beyond 8 Figures podcast and give our listeners remarkable role models with can be proud of.
Women entrepreneurs are vital for economic growth
Entrepreneurs make a valuable contribution to a country’s economic growth because more people working means more money circulating in the economy. Not too long ago, women were largely excluded from the working world. Still, the number of women-owned businesses has been steadily growing over the years, increasing revenue and employment levels.
Despite the progress made in the entrepreneurial space, women still face more significant barriers to success than their male counterparts, particularly when gaining access to capital. According to Credit Suisse, all-male tech company founding teams receive 93% of the capital invested in Europe. There are many reasons for this, including gender biases, lack of financial knowledge, and confidence in their abilities.
Women entrepreneurs enhance innovation
It has been measured and shown that diverse teams perform better (e.g. improved performance that results from having more gender-diverse teams) and having a more diverse workforce would also help to fill the industry’s talent shortage. It also just makes logical sense - most people come up with innovations that solve the problems they themselves have. If we don't have diverse perspectives among those innovating (in tech) then we won't be solving diverse problems. But what truly drives and concerns us at imagi goes beyond the health of the industry itself. We believe including women in tech is about economic fairness. The tech industry creates some of the best paying jobs. Women need to have the opportunity to pursue careers that will help them achieve financial security and independence.
Diverse perspectives breed innovation, and innovation is the key to progress. Of course, every individual has their unique set of circumstances but broadly speaking, living as a woman and living as a man are vastly different experiences.
For example, according to the World Economic Forum, women are 47% more likely to be severely injured during car accidents because car safety testing has traditionally been done using crash test dummies modeled on men.
When women become entrepreneurs, they can innovate in a way that benefits populations whose needs are often disregarded due to the dominant leadership structures. In this way, women entrepreneurs can enhance innovation and make the world a better place for all.
Women entreprenuers are role models for future generations
If you’ve never seen someone who looks like you in a leadership position, you may internalize the idea that you can’t be a leader yourself. However, when young girls see women running businesses, they become aware that it is possible for them to do the same.
So, if you ever feel like giving up because the challenges that you are facing are too significant, remember that you are an inspiration to the next generation. There are no barriers that we can’t break.
Women entrepreneurs have a beneficial leadership approach
Women usually have an improved ability to read other peoples’ emotions, and when they read other peoples’ emotions well, they are able to provide the kind of compassion or empathy or support that helps people deal with their emotions. So women’s ability to read emotions often makes them really great leaders.
Research has shown that soft skills, like communication, collaboration, and integrity, are key determinants of good leadership. Additionally, research has shown that women outperform their male counterparts regarding most of these skills.
Leadership skills are not just nice-to-haves; they “can make a real difference to the bottom line” because when people feel heard and valued, they are more likely to produce their best work. A good leader can improve the quality of a workplace, and since we spend so many hours of our lives at work, they are improving the quality of life of their employees too.
Entrepreneurship allows women to balance work and family life (if they wish to have both)
I don't believe that work and life will ever be perfectly balanced. I subscribe to a work/life harmony. Some days my family needs me more than work, and other days, work needs me more than my family. There isn't perfection on a day-to-day basis, but there is a good partnership between the two.
Balancing work life and family life is a challenging task at the best of times. When you’re working on someone else’s schedule toward someone else’s goals, it can be an even more significant challenge. Entrepreneurs work extremely hard, but entrepreneurship’s beauty is that you can choose when, where, and how you work. This means that you also control the time you dedicate to family, friends, and leisure.
We have come a long way in gender equality, but we still have a long way to go. We hope everyone takes the opportunity this Women Entrepreneur’s Day to support and show appreciation to the women entrepreneurs in your lives.
More often than not, women entrepreneurs make the world a better place, so if you are one, today we are celebrating you!
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