I love this topic! I’m excited to write about women’s empowerment, especially since we celebrate International Women’s Day every March. Let’s empower women entrepreneurs to start and grow their own businesses and take them global!
In this era, women become more financially secure and independent by running their own businesses, as women now own more than 36% of businesses worldwide.
The USA has said that if you are empowering women, especially young girls, then we can end the generation of poverty and strengthen economies.
Throughout life, a woman has been told that “it a man’s world” is inside or outside the house. But things seem to be changing now. Women worldwide are coming out and raising their voices against this suppression, mainly in the world of business.
Female entrepreneurs are the future. Women have long been understated in entrepreneurship, but the trend is shifting. In the USA, the number of women entrepreneurs has increased by over 30%, making up 36% of all businesses.
Entrepreneurs face different challenges, including cultural and emotional factors that affect their experiences. Female entrepreneurs often lack access to financial and human capital, which impedes business growth, have different mindset constraints, such as risk-aversion, and have not caught up in soft skills, such as leadership. To truly empower women, policymakers need to address these constraints.
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With this article, we tell you five ways through which you can empower women entrepreneurs.
Here are some key approaches to empowering women entrepreneurs and support them:
1. Welcoming Recruitment for Women
Because women entrepreneurs often face more challenging social and economic circumstances, the playing field for selecting participants in a training program is not level. Special care has to be made that the recruitment and selection procedure is welcoming to women entrepreneurs.
At the selection stage, it’s important to have a mix of both on the committee. They should be made aware of any potential gender bias and how to minimize its influence on their decisions.
2. Connect with Women Entrepreneurs
No one understands the challenges facing female entrepreneurs better than other female entrepreneurs. Through training, mentoring and networking, we can build connections between rising female business owners and their more established peers.
There are millions of women out there, waiting for an opportunity to transform their livelihoods, their families and their communities. By providing the proper kind of support, we can help unlock that potential.
3. Engage Women with Fulfilling Work
While hiring, onboarding, training and development are hugely influential – all this work will be for nought if your business fails to retain its talented female employees. Recent data shows that women are leaving the workforce at an alarming rate and suggests that the factors contributing to this trend include frustration with promotion opportunities and unsatisfying work-life balance. If we don’t engage women in work, we’ll continue losing them and all the benefits they would have brought in the future.
4. Give Positive Reinforcement
Being a businessman is hard work. There is a lot of rejection and self-doubt. When we see a fellow entrepreneur doing a great job, we must tell her. Or when we encounter a business owner struggling, we must let her know that all business persons have days where it doesn’t go our way, or we question why we’re doing this at all. It’s essential to have a circle that builds you up and keeps your spirits up when you need it most.
5. Provide Constructive Feedback
While it’s essential to be a cheerleader, it’s equally important to provide constructive criticism too. As an entrepreneur, our business is our baby, and sometimes we’re too close to it to know when something isn’t working.
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We at BSS Global can help women entrepreneurs in the UAE to set up their businesses. Get in touch with our expert team; they will ride you through the process.
