Women entrepreneurs have changed the face of business.
Who run the world? Girls! As Beyoncé so eloquently belts out that line, she’s not far from the truth at all. Women entrepreneurs have begun to take charge of what was once a male-dominated industry. They are effectively navigating uncharted territory concerning markets not already dominated by men. They are following their own tips to toward entrepreneurship as to leverage creative ideas that are not often encouraged in the traditional job setting. So, allow us to exam the world of women entrepreneurship in business.
Why are there more women entrepreneurs today?
Change is inevitable. Woman entrepreneurs are stepping out from the shadows of their male counterparts, and have handed up some serious competition. No longer being held back by society’s view of what a woman’s role should be, women are leveling the playing field. Here are some reasons why more women entrepreneurs are assuming these desired roles.
The home-maker role is becoming outdated.
Many women no longer desire to be just the home-makers of the households. They are seeking other ways that can reveal their true identity of who they are as a person. As little girls, women are expected to get married, have kids and, assume whatever job position that will allow them to carry out those duties. Not anymore. Technological advancement in society has made it possible for them to have very rewarding careers while still holding the title of the household matriarch.
Ability to implement creative ideas.
There is typically a limit on how creative one can be in the traditional workforce. This typically goes for any entrepreneur. Women are using their creative ideas to implement some very profitable business ventures. Case in point. For the last few years, Sonoe Azuma, 38, of Unagi Travel has been organizing stuffed animal tours throughout Japan, Europe, and the United States. As you can image, virtually no business would have taken her idea seriously. However, she made the decision to follow through on this creative idea and subsequently turned it into a profitable business.
Avoiding the glass ceiling.
It’s no secret that women in the workforce hold fewer executive positions than men. Despite advances being made than previous years, women are still largely at a disadvantage. Society offers many resources that have made it easier to start a business than to hold out for that top leadership position. Woman entrepreneurs are shattering that glass ceiling by starting their own enterprises. Almost always, the profits for doing so will greatly exceed the fortune made from that executive-level position. Which brings us to our next point.
Unfair workplace wages.
The gender pay gap in America is very real. In addition to not being promoted as often, women are paid less. According to the Institute for Women’s Policy Research, women are paid 20 percent less than their male counterparts performing the same job. That is, for every dollar earned by a man working full-time, year-round, a woman working full-time, year-round earns $0.80. Women of color fare even worse.
Asserting their own independence
The points made above give women more reason to venture out on their own. They no longer must accept the hand that was dealt, rather, they can shuffle their own deck. This decision to assert independence has changed what society once knew about the American family.
As a result…
Roles are shifting in the American household
In recent cases, the woman has assumed the role of the bread-winner, rather than the home-maker. According to the Center for American Progress, “In 2015—the year for which the most recent data are available—42 percent of mothers were sole or primary breadwinners, bringing in at least half of family earnings. Nearly another one-quarter of mothers—22.4 percent—were co-breadwinners, bringing home from 25 percent to 49 percent of earnings for their families. This represents an increase over previous years and is the continuation of a long-running trend, as women’s earnings and economic contributions to their families continue to grow in importance.”
Women desire to have fewer children if any at all.
Women, by large, have rejected the idea that you must have children in order to start a family. More and more women today have decided to put off starting a family (if at all) in order to finish school and start careers. This has bolstered women entrepreneurs to pursue careers that would otherwise have been difficult to manage had they started a family sooner.
What leverage does women entrepreneurs have over men?
In short, more funding opportunities specifically targeted to women entrepreneurs are more available today. Thanks to venture capital funding, crowdsourcing, and federal grants, more women are owning small businesses than ever before. According to the National Association of Women Business Owners, more than 9.4 million firms are owned by women, employing nearly 7.9 million people, and generating $1.5 trillion in sales as of 2015. Women-owned firms (51% or more) account for 31% of all privately held firms and contribute 14% of employment and 12% of revenues.”
In the past, men have always outperformed women. Nowadays, it makes it much harder to judge one by their gender, but rather by their accomplishment. Women entrepreneurs have displayed that they can understand business just as much, if not better than males.