We all want the world to be a fair and equal place. Unfortunately, we’re not quite there. This means that people will face disproportionate challenges. For example, women generally face more challenges as entrepreneurs than their male peers. The good news is that despite these challenges, around half of all businesses started in 2021 were by women. 

 

In other words, more and more women are seeing opportunities and jumping on them. This is fantastic news! We must take the time to support them whenever possible. One such way is by discussing common obstacles women face – and how to overcome them.

 

Gender Inequality

Facing gender inequality is not exclusive to the world of entrepreneurs. The truth is that gender inequality impacts every industry – no matter how much we would like to pretend otherwise. 

 

According to one study, most women business owners feel that they have to work harder than men to achieve the same level of success. Likewise, it’s been proven that women are more likely to receive shorter business loan terms. Often, these shorter terms come with higher interest rates.

 

It often feels impossible to overcome these basic inequalities. After all, how does one get around something as basic as funding? The good news is that with more female-led businesses on the rise, there are even more alternatives. For example, consider getting funding from organizations intending to raise up women. Likewise, women-led vendors will be more understanding and less likely to take advantage of one another.

 

Work/Life Balance

 

Finding the right balance between work and life is challenging enough for entrepreneurs. Unfortunately, women tend to have a tougher time finding this balance. This is especially true for mothers, who have more tasks to balance.

 

The key to finding the right balance is being flexible. Remember that an entrepreneur’s hours don’t have to be a stereotypical 9-5 gig. In other words, different hours can open up more doors for those struggling with work/life balance. 

 

Additionally, women, in particular, must remember that they can delegate as needed. This means asking family members to help at home, hiring associates to handle some busy work, etc.

 

Lack of Role Models

 

Have you ever had a role model? Didn’t it make everything feel so much more possible and attainable? Unfortunately, many women entrepreneurs lack representation. In other words, we don’t (or didn’t) have too many role models to look up to. The good news is that this is changing. With half of all new businesses being women-led, the industries are changing. 

 

In the meantime, don’t be afraid to reach out to those already working hard to change the rules and break barriers. They can be an inspiration, or a mentor, depending on what level of support you may need.