In the current business world, one-third of the global entrepreneurial ventures run under the authority of women specialists. By definition, women entrepreneurs are female professionals who initiate, manage, and operate a business. As for India, the government defines ‘Women Entrepreneurship’ as when women control an enterprise or own it. Moreover, they get a minimum of 51% financial interest on capital, and 51% of the enterprise includes female employees.
In recent years, factors like economic progression, liberal thought process, better education quality, and urbanization have contributed to the increase of female-run businesses. In fact, 40% of the businesses in the US have women entrepreneurs in leadership and ownership roles. Overall, female entrepreneurs can be seen in different business and tech sectors globally. In this article, you would learn further details on them in general, such as their role and functions.
The Global Rise Of Women Entrepreneurship
Women entrepreneurship is growing prominent in the business sector for the following reasons:
- Female entrepreneurs have a higher motivation to make their mark in competitive jobs. They have to deal with challenges like competition based on business qualifications, career skills, and sexism in the workplace.
- They desire new opportunities and challenges in their careers and focus on innovative techniques and ideas.
- Women in the business field want to balance familial and work responsibilities and have full autonomy over these decisions. They tend to hire only 2-3 employees. Also, most women business owners manage smaller businesses.
However, female specialists are present in leadership roles in various big enterprises worldwide.
Purpose Of Women Entrepreneurship
A woman can embark her journey of entrepreneurship because of any reason. Here are some of the most common ones that are listed below:
- Economic independence
- Social identity
- Establishing a directly-managed enterprise
- Improve self-confidence
- Achieve excellence in their career field
- Creating an equal status in society
- Freedom in business operations
- Family responsibility
What Makes Women Entrepreneurs More Abled
Women entrepreneurs, usually, possess out-of-the-box thinking. This allows them to prepare plans that would make their products/services unique in the market.
Women entrepreneurs must be courageous and confident in order to build their business in the highly competitive market. As a startup owner, one has to keep in mind that there is a minimal guarantee for success. Without courage, one cannot handle such challenges and women tend to take such challenges more confidently.
Women entrepreneurs, being more passionate, perform all tasks and responsibilities efficiently. During the early stages, passion is the most essential to keep your business running. Usually, 90% of the startups fail to develop properly in the first year but women entrepreneurs can change this with their passionate personalities.
For women, their responsibilities to both their work and family are essential. Thus, a trait entrepreneurs need to possess is the ability to categorize their duties. Task delegation in projects is a useful tactic for quicker results and creating balance.
Having the ability to stick to the task and goal is a trait of women that helps them as entrepreneurs. Their disciplined characteristics help them carry out business operations in order and contribute to consistent growth.
Women entrepreneurs are curious learners and they try to hone their skills as much as possible. With expertise in their field they build trust among their customers, thus, leading to endless business opportunities and possibilities. .
A Day In Woman Entrepreneur’s Life
In enterprises and small businesses, women contribute to different operations and activities at the same level as male entrepreneurs. Following are their everyday roles and responsibilities:
- Exploring ideas and initiatives for setting up new enterprises
- Producing new ideas for the business
- Planning new innovative strategies for business operations
- Risk management in prospects and economic uncertainties
- Overall growth in the economy
- Employee management
- Conducting meetings for seamless communication
Women Leaders In Business World & At The Synergy Works
In the global business world, women entrepreneurs play a significant role in striving for social progress and economic development. In India, factors like increasing urbanization, industrialization, higher awareness and education, and social legislation contribute to the rise of women-led businesses.
We, at The Synergy Works identify the capabilities of women leaders and professionals. Therefore, we focus on hiring more women to offer unmatched experience to our clients. Our female professionals are highly qualified and experienced in dealing with complex tech challenges for businesses’ software development. We have women at all levels in our company, starting with our amazingly talented founder, Shikha Taman who has a clear mission and vision for this company.
Our company prefers to hire more and more talented women in different departments like MVP Development, Design Sprints, Product Management, and UI/UX Design. We are always looking for such professionals who can handle tasks like Dual Discovery and Strategic planning, and have high skills in tech development technologies such as Node.Js/Angular.Js, HTML5/CSS3, React Native, and iOS/Android.
Strikingly, private tech-companies get 35% higher ROI when women run them. This contributes positively to the rise of female entrepreneurship roles in the technological development sector.
Globally, women are training and excelling in the business world; female-run companies are expected to increase in growth rate and quantity in the future. Worldwide, the sectors in which these professionals are growing dominance include garment manufacturing, designing, exports, interior decoration, and publishing. International and government organizations are prioritizing women’s entrepreneurship-related challenges as well.
In the current world, women entrepreneurs are running businesses in the same capacity as their male counterparts. It is anticipated that the global male-to-female company’s ratio would adjust in favor of women entrepreneurs in the upcoming years.
So, let’s celebrate the women leaders this women’s day. And do not forget the ones at your home who have contributed significantly to your success.
Happy Women’s Day!