Advantages of Being a Female Entrepreneur

Women in the United States owned 42% of all businesses in 2020, and they employed a whopping 9 million people. A report, “State of Women-Owned Businesses,” published by American Express, reveals that the majority share in 5.4 million businesses is owned by women of color alone. They employed 2.1 million people, generating $362 billion in annual revenues. What is encouraging is that the number of such women and businesses is growing, and it is expected that more than 50% of all small business jobs in the U.S. will be created by companies owned by women over the next five years.  The rules of the economy are changing. 

The world is turning to women to become the new thought leaders – and they are certainly up for the challenge. Female entrepreneurs have significant advantages simply because they are different. One advantage of being a woman entrepreneur is that they have inherent empathy and social skills to connect more with customers. There have been several obstacles such as gender bias, societal and traditional basis, and convincing investors. However, things have been changing, as a new zeal of enthusiasm seems to have entered women’s minds, allowing them to be ambitious. 

Excellent track record 

One of the advantages of being a woman entrepreneur is their excellent track record. Several incidents in history prove women are better at developing social relationships and communicating than men. In addition, women are experts in multitasking, marketing, and motivating their colleagues and employees. 

Like their behavior, women possess diverse skills. Women are always passionate, and they believe in all that they do. These attributes are absent in most men. Precisely speaking, businesses need diverse skills in the people heading them. In addition, entrepreneurs must also engage themselves in every activity that the company undertakes – whether it is socially active, being empathetic to concerns, and, at the same time, being aggressive. These attributes give women entrepreneurs many advantages, and some are important. 

The passion of women entrepreneurs 

An ancient adage says, “A man thinks with his brain and feels with his heart. On the other hand, a woman thinks with her heart and feels with her brain”. Therefore, it is not surprising that women put their passions into their routine activities, whether making a cup of tea, organizing a business event, or participating in social gatherings. Power and passion are two attributes that make a person successful. Women possess passion and are waiting for their chance to avail that power. When a woman turns an entrepreneur, it offers them an opportunity to hone their skills and give an altogether different dimension to their business simultaneously. 

In present times, more and more women are getting an education. Statistics show that all countries across the globe are witnessing a growth in literacy rates among women compared to men. This suggests that women also possess the requisite academic qualifications to own and run businesses successfully. Their traits are an added advantage over men. Moreover, women entrepreneurs can also target areas that have been ignored by men so far, such as cuisine, arts, fashion, hospitality, and interior design. 

The “woman” of the house 

The earnings of families and their consumption patterns have changed in the past decade. Families are changing are changing. Women are no longer restricted to being a housewife, as they take care of household work and children and work to augment the family income. When a woman launches her business, she is financially independent and holds a unique identity. Before her entrepreneurship, she was primarily known as a man’s life partner. Women can focus on careers and business by earning for the house and gaining independence from all the income previously in the hands of their men. 

Many believe that this is among the most significant advantages of being a woman entrepreneur. Perhaps this is because a woman is her boss and does not have to rely on any other person’s income or security to lead her life. Before turning to entrepreneurship, women depended on their husbands even for their trivial needs.   

Tenacity 

One of the significant advantages women in business possess is tenacity. Ladies don’t work through an entire day, come home, take care of the family, and the dog, clean the house; it never ends. No matter what is going on in their personal lives, they still don’t stop until they get what they want. If they encounter a roadblock, they find creative ways to get over it and around it.  

Entrepreneurship isn’t for the faint of heart. One has to be tough. There is a reason why women carry and deliver babies. They are tough, and they have to be. The beauty of it is that they can be challenging and still be tender. There is a spot for tenderness and compassion in business. Women pour their hearts and souls into what they create.