Women in Business: What makes them Better Entrepreneurs

Gone are the days when women were only restricted to become homemakers. Today, they’re money-makers and go-getters. With every passing day, more women are entering the corporate world. In fact, some of the top companies across the globe are led and managed by female entrepreneurs. Today, Fortune 500 companies have female CEOs too. There are no two thoughts about the fact that women are multitaskers. Research suggests that women make better entrepreneurs than men. Though gender in entrepreneurship doesn’t matter, women who were underrepresented a few years ago are slowly but steadily coming into the forefront. Shark Tank India is testimony to this. Both the seasons gave an impetus to women entrepreneurs. The show has actually fuelled a start-up boom for Indian women. In fact, one of the investors on the panel, Namita Thapar, was often seen investing in brands that were led by women entrepreneurs.

Honestly, there is no law that states that entrepreneurs only have to be male. Though entrepreneurship begins with an idea, it is not solely that. The journey of entrepreneurship involves converting your original idea into a business, growing it into a company and then generating wealth.

Why Women can be better Entrepreneurs?

Though many people still regard entrepreneurship to be a male-oriented kingdom, here are a few reasons why women are still better business leaders:

• Women believe in taking calculated risks

A lot of people believe that only men take risks in business. However, that’s not true. Women too are risk-takers and don’t always play safe. What makes them better than their male-counterparts is that they take calculated risks. Women tend to analyse the situation properly before taking action. They take risks only if they’re confident that it will produce great results. Once they assess the situation, they weigh the advantages and disadvantages. If they feel like something is worthy of their money, they take the risk otherwise they simply withdraw. With that being said, women entrepreneurs actually take more risks than men, it’s just that they don’t take the unnecessary ones.

• Women bring with them a wealth of experience

There’s no secret about the fact that women are multitaskers. One major reason women are better entrepreneurs than men is because they bring with them a wealth of experience to the table. Men usually take up entrepreneurship early in their life whereas women consider it after their thirties. This is where the difference lies. By the time women decide to build a business of their own, they are well-versed with various different challenges life throws at them. Since they devote their early years working for others, in marriage and starting a family, they’re already equipped with tremendous experience. In fact, a lot of women entrepreneurs are mompreneurs (mothers who’ve turned entrepreneurs). They know the importance of balance, have a professional attitude and look at failure as a stepping stone of success.

• They are never afraid to ask for assistance

Research suggests that male business leaders tend to have a lot of ego in them. Owing to this they refrain from asking for assistance. Even if they’re not well-versed with a particular task, they want to do it on their own only to appear in control. Frankly speaking, this isn’t the case with women. They are more understanding and are willing to seek help when they make a mistake. When women entrepreneurs are unsure of something, they hire experts who have the necessary skill. Women put their business needs ahead of their ego, and that’s what makes them better.

• Women are stronger

Just because men are stronger physically that doesn’t make them stronger mentally. Though everyone speaks about women empowerment and feminism, women still continue to face discrimination in the business world. They are victims of unfair treatment, fewer opportunities and lower wages. Despite this, they still manage to succeed and do better. They don’t allow any situation to weigh them down. Instead, they turn every obstacle into an opportunity. These workplace experiences have taught women to become more resilient.

• They can do more with less

There’s no surprise that women entrepreneurs often struggle with less access to funding and investments. Venture capitalists are generally apprehensive to fund women-led businesses. However, nothing can hold a woman back as they are capable of doing more with less. If you’ve noticed, homemakers and moms have a hack for everything. Whether it’s running the house or running a business, they can manage with whatever little is given to them. That’s what truly makes women more powerful. A recent survey conducted by the Global Entrepreneurship Monitor revealed that start-ups run by women usually need only half of what a man needs to start a business. Even if they have fewer resources, they’re not willing to back down. They churn out various plans and strategies to reach their goals.

• Women make better social entrepreneurs

Another reason why women are better entrepreneurs than men is because for them success is not only about profits. They believe in giving back to society and becoming social entrepreneurs. They care about the social impact of their enterprise. A perfect example of this is how the prime minister of New Zealand, Jacinda Arden performed the best in handling the COVID-19 pandemic. Women social entrepreneurs believe in making a deep impact by doing great work again and again. Women entrepreneurs have a holistic approach to success and don’t just concentrate on the numbers.   

Future is Female

The above reasons verify that women continue to be an integral part of the cluttered business world. Despite all the stigma they face, they stand tall and resilient, and are definitely better entrepreneurs than men. Though a lot of women still struggle to make it to entrepreneurship, our policymakers are constantly encouraging them to become their own bosses.