The golden age for women entrepreneurs has begun

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 The golden age for women entrepreneurs has begun
Women have made themselves available to others to make use of their experience and expertise.

Published: Sat 15 Apr 2017, 7:00 PM

Last updated: Sat 15 Apr 2017, 9:45 PM

My recent work with entrepreneurial women has installed a belief in me that the golden age for women entrepreneurs has finally begun. The universe has conspired, inspired and triggered a revolutionary trend in the economic environment around us that is mass producing enterprising females equipped with inspiration, know-how and funding. Talent was never questionable. Gathering resources and putting them to right use at home has now ventured out of houses and has taken the shape of enterprises.
Women still haven't given up their original interests. Art, home science, money and family welfare are still high in their primary agenda list. All these priorities have found creative objectives and the ideas have become the basis of women-owned enterprise - from neuroscience to finance to retail, women are everywhere.
In recent years, the rate of women entrepreneurs has been growing at a percentage at least double that of their male counterparts. There is more of a focus on hearing what women have to offer and recognising the value of investing in them.
Many companies now believe that the products which target women have a fast-growing, lucrative niche. Women entrepreneurship is becoming a global phenomenon.
The growth has been very swift in recent years. From 2015 to 2016, women's entrepreneurship rates increased by 10 per cent on average versus 5 per cent for males, across 51 economies according to a survey. The gender gap has closed in many countries, where women are as likely as or more likely than men to start businesses.
So, what is sparking women's interest in the start-up scene? Let's list down a few of the important factors that contribute towards this growth.

  1. Women have taken household baking and cooking jobs to the next level. Creative ideas like 'Munch box' are live examples of creativity starting from home. You must Google to find details on these enterprising women. Women have always known to get work done. So, why not get the work done by a robot? Only women could think of getting the pizza baked by robots. Zume's is one such company started by a duo of women in Silicon Valley.
  2. I consider women empowerment as mere enlightenment of women's souls to identify and rectify themselves. Empowerment gives women strength to know themselves and venture into a world to pursue their dreams. Finding an identity gives a woman the desire to live the life she wants. Self expression of inner beliefs and creativity results in meaningful ventures.
  3. The world has changed drastically and women today are financially more independent than ever before. This gives women the power to use her money to her benefit. That said, venture capitalists have become more open to the idea of funding women-owned projects due to the newness and viability of the ideas. Focus on listening to what women have to offer and recognise the value of investing in them.
  4. Never before in history have women taken centrestage like today. Not only have women come up as role models but they have also made themselves available to others to make use of their experience and expertise. Mentoring has helped many fellow women take up challenges and live them.
Despite substantial progress on the start-up front, the "scale-up gap" between men and women remains huge. Female-owned businesses in general still start smaller and stay smaller, according to a research that promotes entrepreneurship. The women entrepreneurial industry is growing fast and a new breed of women have come up to bridge this gap. This breed is ambitious and creative.
Marie Forleo, life coach and founder of Marie TV and B-School; Huda Kattan, the make-up and beauty blogger and founder and CEO of Huda Beauty; Lina Kouatly, MD of Lunatus Marketing and Consulting - the list is endless. The work these girls are doing was unimaginable some years ago. Some of them are at the peak of their success. Some are just getting there. The space is filling up quickly. Women are leaving behind old businesses and embarking on creative ones.
Kudos to all the good work. We are inspired. The world is our canvas. Women entrepreneurs are a tribe to follow.
 The author is an entrepreneur and financial planning consultant. Views expressed are her own and do not reflect the newspaper's policy.
 

By Chanda Lokendra
 Viewpoint

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