According to statistics released by the National Association of Women Business Owners in the United States, 31% of the businesses in the country are controlled by women. While this does not show gender parity, it is a welcome development to know that women are rising fast to lock horns with men in the business world.
The year 2018, birthed many trends, a notable one is the increased number of female CEOs and so far, it has been inspiring and encouraging. These trends include;
Increased number of female business moguls.
- Compared to other years, more women participated in the survey. This shows that the number of women business owners have increased over time.
Women are passionate.
- For a woman, being a business goes beyond wanting to smile to the bank at the end of the day or being her own boss. Women pursue goals that they are always passionate about. These goals are why it is difficult for women to close shop when things go on a downward spiral.
- Women, unlike men, start out quite early in their business. According to reports from the survey, more women embarked on their business goals much earlier than men.
Women bag college degrees more.
- Women in businesses have more college degrees than the males. From the survey, about 37% of the women cited that they had graduated from college. This is a far cry from the males. About 37% of the males reported they only had a high school diploma.
Despite these encouraging factors, women are still held back by some challenges.
Challenges faced by women in the business climes
The main challenge faced by women who are planning to start businesses or trying to keep their business afloat is gender disparity. These challenges include;
Women receive less capital to start their businesses
A total of about 15% of women only receive about $100,000 to start up, this is low compared to men. About 28% of men receive the same amount or more to start up.
Women in business employ fewer hands
Due to lack of adequate funding, businesswomen face the challenge of employing about two hands or more to assist with the workload. On an average, men employ about 6 workers to enhance division of labor.
Women work more from homes
More women work from homes than men. Due to a lack of adequate capital to rent space for an office, women are more likely to stay back home and work to cut back on cost.
Women work more hours
Women work till ungodly hours, sometimes they run night shifts just to bring their dreams to fruition.
Women are plagued with these challenges irrespective of the fact that they have more passion for their businesses, possess the required experience and face same challenges associated with start-ups, like men. In addition to that, women and men in business, launch their businesses same industries but men always take the lead when it comes to being successful in virtually all the sectors.