The Biggest Challenges Faced by Women Entrepreneurs Today

By TRISOFT team

Although female entrepreneurship had a challenging start in the past, nowadays, women own an average of 36% of businesses worldwide, with the highest percentage in — what do you know? — Ghana (almost half of all firms have female holders) and one of the lowest percentages in — you’d never guess it — Italy (almost 3% of companies are held by women).

Although they often face challenges in accessing funding, gaining respect and being taken seriously, women entrepreneurs overcome these difficulties by building their own support systems, surmounting their insecurities and showing the world what they can really do.

In pursuit of passion

The main reason why women step into the world of entrepreneurship is the desire to pursue their passion, but also for financial independence and the flexibility it allows them for also raising children and taking care of the household.

Most of these women have college degrees, acquired extensive experience, but since skills and knowledge are accumulated in years, they are usually older than 30. This means that it takes them time, dedication, commitment and hard work to succeed in developing connections, relationships and the capital needed to run a business effectively.

The challenges

This article is meant for women who own or want to start a business and are keen to learn more about how other women entrepreneurs face their unique hardships.

The challenges that most female entrepreneurs mention include: obtaining funding, building a support network, dealing with feelings of inadequacy and the fear of failure, disputing social expectations, making themselves seen and heard and achieving a positive work-life balance.

Let’s check out the biggest challenges one by one.

1. The first impression factor

Being often judged by their looks and demeanor, women have to strive to create a serious and authoritative first impression. In order to contest this “fair sex” stereotype, you can start by introducing yourself on a solemn tone, stating your first and last name, then your position within the company or the business you are there to represent; practice a firm handshake.

Also, try to keep a neutral and professional attitude, but without becoming too bossy or commanding in order to overcompensate for their perceived image of you; don’t give up your femininity, but rather show it in a way that is proper and respectable, and turn it into an advantage, not a drawback.

As conversations and meetings progress, you will discover that you are taken more seriously and valued as a peer.

2. The infamous work-life balance

Achieving work-life balance is one of the greatest challenges that women face. It can feel like your mind, time and soul are drawn in a thousand different directions at once, but the secret to making the best of both worlds, professional and personal, is creating schedules and systems that help you cope and organize everything better.

Women are known for being awesome at compartmentalizing and doing several things simultaneously, so use these natural abilities to your benefit.

3. Finding a support system

Furthermore, finding a support system is a crucial element in keeping a level head and managing to cope with everything that life throws at you. In this day and age, we have numerous alternatives that you can use for boosting your confidence, becoming more organized, expressing yourself or teaching you how to delegate tasks and share responsibilities: it might help to listen to podcasts, read specialized books, connect outside your geographic area so that you won’t feel isolated, seek help in the form of a nanny, dog walker, in-house maid or cook, take personal development courses or work out.

Whatever works for you is fine. There are always people and stories out there that can inspire, uplift and encourage you, and we all have days when we need this in our lives.

4. Forget proving yourself to the others

Don’t forget that you don’t have to prove yourself to anyone, so don’t accept unsolicited advice and don’t get tricked into trying to constantly show your worth and your competence.

If someone is talking down to you, ridiculing you or not taking you seriously enough, just smile and make an elegant exit before returning to your life, your projects and your successes.

5. The unrealistic expectations

Don’t set unrealistic expectations for yourself, because no one can tackle everything at once and perform spectacularly in everything (being a mom, a wife, a housekeeper, a provider, a businesswoman, a socialite).

If you set the bar too high, you will only end up feeling frustrated and inadequate, which can be exhausting and disheartening. Take everything one step at a time and celebrate each task you complete, each goal you reach, each chore you cross off your “to-do list”.

Women empowered

Women have certainly made an enormous effort to be present in the world of entrepreneurship. Their impact is remarkable and it will most likely grow in the future. Companies owned and led by women have proven time and time again that they can be successful, dependable and profitable.

At TRISOFT we know that female entrepreneurs still have to face a few challenges along this road, but with support from peers, self-confidence and a certain level of organization, they will overcome any difficulties and come out on top.

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