An insightful look into the obstacles women in business face and their empowerment journey.
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Recent research highlights the significant hurdles that women entrepreneurs encounter in the business world. Almost one in three women feels they are not taken seriously by investors, pointing to a troubling trend of gender bias and underrepresentation in the entrepreneurial space.
This finding illuminates the challenges that female business owners face daily, complicating their paths to success.
Survey findings on gender bias
A recent poll conducted among 500 women running their own businesses reveals that 21% of respondents believe it is harder for them to succeed compared to their male counterparts.
This sentiment is echoed by 22% of these women, who attribute their struggles to limited access to funding and investment opportunities. The pervasive nature of gender bias was evident, with 59% of participants citing it as a major impediment to their success.
Moreover, balancing personal and professional responsibilities presents another layer of difficulty. Nearly 29% of these women reported challenges in managing both aspects of their lives, indicating a significant struggle to maintain a healthy work-life balance while navigating the complexities of entrepreneurship.
The emotional versus rational perception
Another intriguing aspect of the survey was the perception of decision-making styles. A notable 42% of women reported facing stereotypes that associate their decision-making as ’emotional’ rather than ‘rational.’ This bias can undermine their authority and credibility, further complicating their business interactions. Additionally, 26% noted difficulties in assembling a supportive team, which is essential for any entrepreneur’s success.
The research coincided with the AXA Startup Angel competition, which seeks to empower new businesses by providing substantial prize packages and mentorship from successful entrepreneurs. The objective is to address these disparities and offer women the tools they need to thrive in a challenging environment.
Women’s resilience in the face of adversity
Despite these challenges, the spirit of resilience shines through. Mike Crane, director of small business insurance at AXA UK, emphasized that while there has been progress in creating an inclusive business landscape, it is still not level for women. Over half of the surveyed small business owners identified gender bias and stereotyping as ongoing issues, while nearly a third felt they were not taken seriously by investors or clients.
Interestingly, 48% of women reported greater flexibility to spend time with their families while running their businesses. This newfound freedom has allowed many to set a positive example for their children, with 43% believing that their entrepreneurial journeys have encouraged their kids toward personal and professional growth. Furthermore, 19% of respondents started their businesses with the intention of empowering other women and fostering diversity in their communities.
Addressing the risks of entrepreneurship
However, the journey isn’t without its risks. A fifth of the women surveyed felt undervalued in their previous workplaces, and 21% acknowledged that they perceive more risks associated with running a business as women, including financial instability. Crane’s perspective highlights that gender should not constitute a risk in entrepreneurship. Every aspiring business owner deserves equal opportunities, irrespective of gender.
Organizations like AXA are committed to supporting entrepreneurs, providing resources to help bring innovative ideas to life. The AXA Startup Angel competition serves as a vital platform for budding business owners, offering funding and mentorship that can significantly impact their early operations.
The future for women in business
As women continue to break barriers in the entrepreneurial landscape, the call for equality and representation becomes louder. The findings from this survey not only shed light on the pressing challenges faced by female entrepreneurs but also reflect their determination to forge paths for themselves and others. While the road is fraught with obstacles, the resilience and courage displayed by women in business herald a promising future where gender bias is a thing of the past.
