Women and Why Entrepreneurship in 2020?

In the past few decades we started to see an emergence of female entrepreneurs in just about any field. More and more women started to create their own business. The best thing is that they cover any industry and they are true innovators at their core. With more than 252 million women entrepreneurs all over the world, it’s clear that nothing stands in front of these powerful women and they are doing everything they can in order to push the boundaries as they provide the best solutions out there.

Female entrepreneurs aren’t a part of an overlooked class that over performs. There’s still an evident funding gap when you compare female and male entrepreneurs, yet the truth is that startups created by women are doing better. According to HSBC, 1/3 of women entrepreneurs are dealing with gender bias when they are raising capital. In fact, VCs are asking different questions when compared to male entrepreneurs.

Most of the time, female entrepreneurs create a business because they want to pursue their passion. Another reason is financial independence or the opportunity to have a more flexible schedule. One thing we need to notice is that around 75% of women have a startup or side hustle, whereas only 58% tend to do that. The reason is simple, having a side hustle brings more control and support, and it encourages you to push the boundaries as you generate something rewarding and very interesting at the same time. 

The amount of female-led businesses increased with 58% between 2007 and 2018, and the numbers  are growing. While women-led businesses account only for 8% of the employment revenue in the US, this is a clear indication that female entrepreneurs are innovators and they are facing all the challenges head-on to bring their dream to fruition.

While female-focused marches and actions are taking place all over the world, investors have warmed up to the idea of dealing with female entrepreneurs and they are assisting them more than before. The great thing about female entrepreneurs is that they rarely give up. They know that this is a male-led world for the most part, but they are thinking outside the box and they are constantly innovating to bring in the best support.

What can you do to break the mold and become a successful female entrepreneur in 2020? The first thing you need is networking. Having the right industry connection is what can lead you to success. On top of that, you need a lot of focus and you must stay away from any distractions. Finding multiple funding sources can help your company survive without worrying about a lack of funding. 

Stay true to your ideas and don’t give up, there will always be challenges for female entrepreneurs. Thankfully, the world is accepting female entrepreneurs more than ever before, and it’s easier than it has ever been to become a recognized world leader in your industry. If you bring in all the hard work and commitment to success, nothing can stand in your way!

Better Life. Better Business. Better Results.

Dr. Cai Randolph