Women business owners has certainly made a strong impact in the economic growth and employment opportunities worldwide. According to the National Association of Women Business Owners (NAWBO), more than 11.6 million firms in the United States are owned by women, employing nearly 9 million people, and generating $1.7 trillion in sales as of 2017. Their contribution in the world of business has demonstrated their capability as powerful leaders, innovators, and entrepreneurs breaking gender barriers and inequalities.
However, despite these stunning statistics, women have faced and are still dealing with a wide range of challenges in the business world, most of which are gender related. These can hinder their ability to grow and delay their chances for success and contribution to the economy.
Lack of funding support
Studies have shown that women-owned business owners are less likely to have access to funding and capital as compared to male counterparts. Regardless, if they have the same growth potential or even have a unique business idea. This makes it more difficult to start or expand their business due to lack of investment.
Lack of networking opportunities
Women entrepreneurs also has less access to networking opportunities making it hard for them to find partners, advisors, and resources they need to support their business.
A major challenge for women business owners is the gender discrimination they face in the business world. Some undermine their credibility and capabilities which may result to a lack of respect from their customers, lenders, and employees.
Despite all these, women have proven to show fortitude and resilience in overcoming their obstacles and have emerged to be successful business leaders of our economy. They have found success by focusing on their strengths, resourcefulness, and seeking out support from communities made up of like-minded individuals who share their ideas and valuable resources.
We should all take part in resolving these issues that are blocking women’s full potential in the business world. Let us all create a better future where there are equal opportunities for all women entrepreneurs.
At 1099 Accountant, we recognize the significant contribution of women business owners and we are proud to celebrate their achievements in the business world. We provide our full support in their mission for equality and success in all their endeavors.
Happy International Women’s Day!