BusinessNews

5 Reasons women make good entrepreneurs

Yet less than 2% of venture capital funding goes to women

Women have fought long and hard for equal rights and around the world more women than ever before feel liberated as they meet the challenges of the careers previously reserved only for men. However, statistics in the developing world show there are still far more male entrepreneurs than women, with many of them preferring to stay in their existing jobs rather than to open their own businesses. Research also shows that many women face startup obstacles – receiving less than 2% of all venture capital funding.

In the US and some exceptional countries we take equality for granted. Yet in many countries one might argue that the role of women has not changed much over the millennia and being creatures of duty, women continue to take caring seriously, whether through meeting the responsibilities of their careers, bringing up their children, being there for their partners and even caring for older parents.

Most often this will lead to them putting their needs last and holding them back from entering the business world as the fear of losing a stable income, or not being present at a crucial moment for a child overcome them. The risk of disappointing or failing someone else, themselves included, hold them back.

Women are also not driven by wealth and even when they make the decision to start a business, they often intentionally opt to keep it on a smaller scale

Yet, they have strong value systems and know what they expect from those around them, are committed to their goals – all the makings of a good entrepreneur.

Communication and social intelligence

Numerous studies have shown that women have all the skills required by the digital economy. They communicate well and have a stronger network, gaining invaluable resources for their business.  They have the ability to leverage connections making fewer mistakes along the way.

Consideration

Women who are entrepreneurs tend to offer more benefits, believing that these boost the morale of employees leading to fewer losses for the business, including less staff turnover, less absenteeism and higher productivity. Women more readily agree to implement job sharing, parental leave and telecommuting than men and know what they want the world to be and they fight to accomplish it.

Listening

In a study a few years back it was found that the collective intelligence of a group increased if women were included. Firstly, women have open minds, secondly, make good listeners and thirdly, are not domineering.

Collaboration

Women have the skills to work together and they make excellent partnerships. Some of these collaborations have lead to some successful partnerships over the centuries, whether these were in rural settings, through times of wars and other hardships. These can often be seen in some of the successful enterprises today.

Measured risks

The cautious nature of most women does not allow them to take high risks, preferring to settle for lower returns. Scientists blame testosterone levels in men which make them incite it each other into taking more risks and making reckless decisions.

Seeking help

Pride has been the downfall of many men in business and they often don’t admit to needing help, whereas women find it easier to admit that they have a problem or need advice. The advantage of seeking help in a timely manner can often save an enterprise from making a costly mistake.

The need to do things better and more efficiently has given women the edge, whether preparing a family meal in record time or stretching the family budget. That is what gives them the edge to becoming superb entrepreneurs

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