6 Common Challenges Women Entrepeneurs Face

Oct 14

We have asked 170 women entrepreneurs about the challenges they face in the entrepreneurial world. 

Here are six main commonalities we have noted.

1. Lack of equal opportunity and access to funding

Fundraising is challenging in general. Unfortunately, it's even more difficult for women founders, with only 2% of female start-ups receiving venture capital money in 2021. Thankfully, more initiatives to support womenpreneurs are on the rise. Women founders can join dedicated programmes, access incubators or accelerators such as Creo Incubator, check for organisations that offer business grants for businesses run by women or even opt for crowdfunding.

2. Struggling to build a supportive network

Women entrepreneurs reported having smaller networks. This makes business goals harder to achieve since the advice and sources from one’s network are growth enablers. Hosting social events, joining social clubs, and participating in conferences and panels can help build a supportive network.

3. Lack of visibility of female role models

There is a reported lack of visibility of female role models, whose presence is essential for ambition and motivation. A more significant presence and visibility of women in leadership positions are necessary to guide and inspire. 

4. Struggling to own their accomplishments

Women entrepreneurs want to avoid being perceived as boastful, which can lead to struggling to own their accomplishments. There is nothing wrong with sticking to the facts, expressing gratitude, and remembering to emphasise hard work.

5. Overcoming the fear of failure and the need to ''play it safe''

Many women feel pressured to outperform in every aspect of life—playing safe leads to missing out on many opportunities and eventually falling behind. To overcome this fear, having a backup plan, learning to ignore negative self-talk, and remembering that failure is part of the game can help.

6. Balancing family and business life

Women still feel the pressure to be the primary caregiver and feel a lack of social support. Seeking support and setting realistic and achievable expectations while delegating tasks when needed is essential.

While we present solutions to some of these daunting challenges, one thing to remember is that the aim is to change the system, not the women.

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