The Struggles Faced by Women in Entrepreneurship

Even during the year of 2022, it is undeniable that a gender disparity is highly prevalent in the field of entrepreneurship. While female entrepreneurs have experienced notable advancements, there is still quite some work to do in order to achieve complete equality. According to the 2022 Women’s Entrepreneurship Report, women own only about 6.2% of established businesses worldwide. One of the highest hurdles that block numerous women from becoming entrepreneurs is self-doubt. So many women are deterred from taking initiative to run their own business due to the notion that they cannot become societal leaders and make a notable impact. It is crucial to teach young women that they are allowed to make their voices heard and own their accomplishments in areas that they are truly passionate about.

A logistical barrier that prevents many women from becoming entrepreneurs is lack of accessible funding and networks/mentorship. According to the New York Times, few women tend to be part of certain established networks that are necessary to receive the knowledge, mentorship, opportunities, contacts, and funding that are necessary to start a business. A possible explanation for the unintentional exclusion of women from such networks is the implicit societal standard for women to be more reserved and mellow than males. Also, many mothers simply lack the time to engage in such networks, as managing a household and raising children is in itself a monumental task. Also, data shows that women, especially if they are single, have a much harder time securing access to the capital they need to start and run their own businesses. This may be because they have less collateral necessary for securing loans to start the business, or even because there may be gender discrimination in the granting of credit.

This intrinsic societal view that women are not apt to become societal leaders and business owners cannot simply be eliminated through policymaking. Although it will certainly be helpful to illegalize discrimination against women, it is also crucial that we, as civilians looking to make an influential change, push to expand the notion that women are capable and deserving of the same opportunities that men receive. This is why Women United is looking to hold teaching sessions in which young women can learn how to create, execute, and pitch their own businesses. Girls will be able to discover their passions, enhance their creativity, and share their insights with one another. Our ultimate goal with this program is to create a community of confident young women who are not afraid to go out into the world and make the impact that they desire.