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Small Business Insight

The Advantages of Being a Woman in Business

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There's a lot of talk about how women are underrepresented in business. Although there are more women running Fortune 500 companies than ever before, they are only in charge of 6.4 percent of large corporations. Hearing these statistics, and knowing about the pay gap between genders, women may feel discouraged in the process of becoming entrepreneurs. But women in business have distinct advantages that men do not, which they can harness in order to excel.

Unique Funding Opportunities

Because women are historically underrepresented in business, many organizations have stepped up to the plate to support their emerging companies. There are government-backed and private loan and grant opportunities available for female entrepreneurs. Even in male-dominated industries such as technology, some venture capitalists seek out women business leaders in order to give them financial support.

Networking and Collaboration

In many ways, women entrepreneurs face similar challenges regardless of industry. For that reason, there are numerous conferences and networking events that help women in business to connect and share insight. There's also a new concept called "collabation," which is working with the competition in order to help both companies grow. When women "collabate," they can become a force in their market segment.

Innovative Company Culture

There are many reasons why companies are actively pursuing diversity in the workforce: people of different backgrounds bring different ideas to the company. For women entrepreneurs, having the opportunity to innovate and create a company culture that supports their own ways of life is particularly empowering. By designing a new kind of workplace, they not only make life better for employees: they bring fresh ideas to customers.

Ability to Multi-Task and Be Tenacious

Everyone is called upon to perform many roles in a startup. But since women have traditionally had to perform double-duty at home in the workplace, they may have a leg up in those coveted multi-tasking skills. Women get the job done, mostly because they have to. In the business world, the tenacity and drive to see projects through is a distinct advantage, especially since gaps in the supply chain or oversight of administrative details can be the death knell of a small business.

The number of women entrepreneurs has steadily increased. This shift has brought changes to many industries, but most importantly, has improved the quality and quantity of opportunity for women in business. For these up-and-coming business leaders, they may be right to see their gender as a factor that contributes to their success.

Other blogs you may be interested in are:   8 Tips for Creative People Who Want to Start a Business | Social Media and the Small Business Owner

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