In emerging economies like ours, the purchasing power of women is gradually increasing and more women are gaining access to education and higher-level employment. Women are getting more involved in economic activities and their roles in the economy continue to grow daily. The gender differences in participation rates in labour markets have narrowed significantly in recent times. The female labour force participation rate today is higher compared to what it was three decades ago. Women now make financial decisions more than they used to and this includes starting and running their own businesses.
Despite the significant changes and advancements that have been made in favour of women owning and building their own business, women still face a number of challenges. These include defying social expectations of female versus male entrepreneurs, dealing with limited access to funds, struggling to be taken seriously (especially in cases they operate in male dominated industries), balancing business and family life amongst other challenges.
This however doesn’t portend doom for intending female entrepreneurs. Women can still thrive in their chosen fields of business and even rise to be industry leaders. Here are a few tips women can use to overcome these challenges: · Stay true to yourself: You probably feel pressured to adopt stereotypical male leadership qualities (including aggressiveness and competitiveness) especially when you find yourself in business environments dominated by male executives and entrepreneurs. It is however best not to succumb to this pressure. Women must stop second guessing themselves. The goal is to find your own voice, be confident in who you are and let that pave the way for your success.
• Take advantage of your network: Women need to take a cue from men make better and more meaningful use of the available to them. Women need to leverage on their natural tendencies, gifts /abilities such empathy, multitasking in order to propose unique value to people around them and consequently grow their businesses.
Are you a woman who wants to start out in business or is looking for other business opportunities? A partnership relationship business may be a great option for you. Becoming a partner offers you the advantages of working with a business that already has an established business name and a known brand. You also can access to funding more easily than if you are starting afresh because investors are far more willing to
• Develop self-confidence: Overcome negative and limiting thoughts with positive self-talk and inspiration. Join groups of inspiring female entrepreneurs that provide you mentors and peers that help you grow and learn from other people’s perspectives. · Build a personal brand: It is becoming more important than ever for entrepreneurs particularly women to build themselves a personal brand. Female entrepreneurs need to enhance other people’s perception of them by actively promoting themselves, developing top-notch negotiation skills, using social media more effectively and networking strategically invest in a business with an established network, secure brand and effective support structure. In some instances, finance may be acquired from the franchisor, making life even simpler for the new business. Also, your partner has most likely already established tons of business relationships that you can take advantage of and systems are already in place. Partners are also very likely to provide you with a support and security system and will often offer training schemes and support with things like the management of accounts, sales, advertising and more.
AXA Mansard is currently starting a partnership relationship network, and this is your opportunity to be a part of it. All you need to do is send us an email on partnershipopportunities@axamansard. com