Women entrepreneurs are integral for a healthy entrepreneurial ecosystem, and strong economic growth. Female entrepreneurship opportunities and challenges are many. Entrepreneurs make innovation possible. Our community is a thriving hub of impactful connections, and entrepreneurs are at the heart of it. Entrepreneurs, including women entrepreneurs, drive vibrancy, innovation and national economic growth.
Entering the world of entrepreneurship can be daunting for anyone. There are many nuances of business ownership that needs to be taken care of. It can be tough to create a business plan, finding the right customers, hiring the right talent and raising capital. Everything is foreign and scary as a first-time entrepreneur and. In a world that is largely dominated by men, the going can get especially tough for a woman entrepreneur.
Entrepreneurship drives the job market and contributes to economic growth. Despite having a thriving entrepreneurial culture, the startup scenario is beginning to decline. As a nation, we must support entrepreneurship in all forms. We must develop communities that will encourage, guide and strengthen startups founded by women.
In order to encourage and be more open to entrepreneurs, we as a nation must create an ecosystem of support for them. Here are some ways to support our female dreamers in our community.
1. Celebrate Women Entrepreneurs
One way we can all play a part in nurturing our country’s entrepreneurial spirit and to build an ecosystem to support female entrepreneurship is to recognize and celebrate our entrepreneurs. We must celebrate female entrepreneurs, regardless of their race, color, income, age, ability, identity and entrepreneurs that “fail”. We, as a nation, must celebrate ALL entrepreneurs.
One way to build a supportive ecosystem for female entrepreneurs is to work with media outlets (TV, radio, newspaper) to highlight stories of female entrepreneurs building companies and impacting our community.
2. Female-Centric Networking Group
Building a support network is important for any entrepreneur. A lack of mentorship limits their professional growth over time. There is a popular saying— “It’s not what you know but who you know”. Finding women entrepreneurs who are sailing in the same ship is important. Building a female-centric networking group is a powerful way to foster the women entrepreneurship circle. There are a lot of women-focused networking events as well as online forums and groups targeted at women players in the business field. This contributes to a female-centric entrepreneurship ecosystem.
There are several campaigns that help build awareness for women entrepreneurs and invest in women across the socioeconomic spectrum. Such campaigns also provide them with the wherewithal to build their businesses and brands. Participation in such programs and campaigns can help female doers learn, identify and articulate. It helps them pinpoint key inflection points in their business and polish their presentation for venture investors. A number of accelerators for women have surfaced in our nation which is a good thing as it contributes to a healthy women entrepreneur ecosystem.
4. Safe Space
The journey of an entrepreneur is boosted by a thriving culture and ecosystem that provides support for them. A haven that fosters creativity and values originality provides entrepreneurs with benefits, such as learning from other’s mistakes, sharing knowledge, making lifelong and invaluable connections, learning new business skills and keeping abreast of business trends. We as a community must create a safe space, where they feel welcome and ensure that it is equally accessible to all entrepreneurs.
Creating a culture of inclusivity allows for female entrepreneurs to dream bigger, bolder and delve deeper. Creating a space means developing a culture of acceptance that strengthens societies.
Commitment is vital to drive a supportive ecosystem. An impact-driven ecosystem doesn’t happen overnight. It takes years of advancing entrepreneur programs. The recession may come and go, but a vigorous and pulsating ecosystem can weather anything to grow and support entrepreneurs.
Creating a long-term commitment to a healthy ecosystem requires the community’s support, starting first with entrepreneurs themselves. They must lead the community and represent what it stands for—drive, passion, growth, knowledge, energy. All investors in an ecosystem should be looking at the larger picture and focus on providing female entrepreneurs with proper tools to arm them. They must provide ample access to programs and training courses to support their idea, give them resources on how to build their idea into a thriving business empire, show them how to scale their business and find capital, mentors, resources, and media connections.
A diverse set of female business owners must lead the ecosystem providing resources, tools, and knowledge.
The Rise of Female Entrepreneurs in India
Women-run ventures are gaining traction as more and more companies whose owners are women are sprouting by the day. Problems faced by female entrepreneurs are solved when there is a thriving ecosystem of support in place for them. Running a family is not coming in the way for women looking to start their own business. More and more investors are looking at the viability of a business idea rather than gender.
If you are a woman entrepreneur looking for success, hear this—there is no barrier for female entrepreneurs. All it takes is hard work and having a smart work ethic to overcome hurdles. You could approach any top management consulting firm or a business plan consultant if you are in the early phases of setting up your company. If you are based in Pune, then approaching Market Research Companies in Pune will help you jumpstart your business. They will be able to help you with the nitty-gritty while you stay focused on your actual business.
Ourbusinessladder is a 360-degree business consulting company, specializing in market research and business advisory. We are one of the Top Management Consulting Firms in India and a leading Market Research Company in Pune. We aim to help people with business ideas and turn them into entrepreneurs. We also help established businesses expand their business operations and increase revenue. We offer A to Z solution for your business.
How according to you can a society come together to support women to fulfill their dreams?