The role of female entrepreneurs in our society has changed drastically in the past few years and for the better. They are now occupying the commercial positions previously regarded as masculine and are outpacing their male counterparts in a few years. Women have always been drivers behind great achievements from time eternal. It is both fortunate and unfortunate that their impact is being recognized only now.
A 2018 report by the World Economic Forum, “The Great Gender Gap,” finds that across the 149 countries assessed, they are just 17 that currently have women as heads of state, while, on average, just 18 per cent of ministers and 24 per cent of parliamentarians worldwide are women. Women hold power to change the world, but not all are young and bold to share their stories.
Here is the report on Global Women Entrepreneurs Leader by ACG Inc./IndiaSpend
Women bring a different set of standpoints to problem-solving that can increase the quality of the solution. Women bring a unique set of concerns and experiences that can help in decision making, enhancing the quality of the decision.
Here are the factors that create an increasing need for more women entrepreneurs in the global marketplace.
1.Economic Growth
Do you know there are just seven countries in the world where men and women own businesses at an equal rate? In most of the countries, women own knowingly fewer businesses than men. Even in countries where women own a considerable portion of firms, they incline to perform at a lower level than men-owned businesses. Women may be able to open companies that cater to a different custom or niche than their male counterparts. Overall, this accounts for better-quality economic growth and stability within a country.
2.Improved Innovation
Women-owned businesses are often subjected to a particularly interesting double standard. They are said to be vastly more creative by organizations like the United Nations. Still, local investors often consider them too dangerous to invest in due to an apparent increase risk in failure. It is vital to note that no studies have found that female-owned businesses are more likely to fail than businesses owned by men. Whatever the final reason, it is clear that female entrepreneurs have an appreciated and diverse perspective that will support the overall growth of a robust global economy as we progress farther into the 21st century.
3.Narrowing Gender Gap
Creating and preserving a healthy and positive company culture is the pre-requisite for the development and long-term success of any company. Studies show that women-owned firms tend to have a better business culture, high values and transparency. They tend to have better employee relationships vertically as well as horizontally. Women-led organizations are more sensitive to women safety issues. They design and implement strict anti-harassment rules and guidelines to ensure women safety. They can develop a robust and see-through reporting mechanism so that there is no disgrace attached to the reporting of sexual harassment.
The question that all forward-looking business owners should be asking themselves as the global economy continues to develop and expand is: what can be done to support female entrepreneurs around the world? We know that women face three specific obstacles: funding, mentorship, and experience.
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