Entrepreneurship is being encouraged worldwide as governments are trying their best to uplift it more so that more individuals can pursue it. Entrepreneurship helps people in improving their business skills and in their struggle for achieving their dreams while benefiting the economy and the living standards of the population around.
Entrepreneurial thinking and entrepreneurship should particularly be promoted because of global recession. Despite the fact that multinational businesses appear to influence the whole world, small to medium sized businesses and enterprises are also extremely important in supporting the economy of a country. These enterprises do not only create more jobs but also foster growth in different business markets.
Moreover, entrepreneurship can boost levels of happiness and confidence in people by creating a sense of self-sufficiency and achievement. Therefore, it can really change the overall mindset of people by boosting their self-esteem and well-being in general.
Lack of Support and Encouragement
Sustaining entrepreneurship is certainly a practical and positive choice but on the other hand, there are numerous women across some parts of developed and under-developed countries who do not receive any support or encouragement to set-up their small businesses. Therefore, these women are incapable to follow their ideas and a main resource of potential growth is left untouched.
In the APEC Women and the Economy Forum, Hillary Clinton said that not giving women enough opportunities for growth would result in an obstruction in the overall economic growth. Women have immense power and intelligence to develop into apt businesswomen and hence, it is very important that they are provided with all the correct tools and resources so that they can reach out to their dreams while creating economic opportunities around them at the same time.
Lack of Government’s Interest
It is extremely important that organizations and governments work to promote growth and foster women entrepreneurship. However, numerous issues need to be stated. Women face countless structural, economic and social barriers, which tend stop them from reaching out to their pursuits and taking them practically. Majority of the female entrepreneurs in developed and developing countries function in the unofficial economy, which prevents the future potential of growth for their businesses.
Women also normally lack approach to business development services and training which would assist them expand the size of their businesses. Due to the lack of investment for female entrepreneurs that function beyond the micro-finance level and a low financial literacy rate, numerous women go through difficulties in pursuing the right type of loan funding that they require in building up their enterprises. Numerous women also tend to struggle in the management of secure loans.
Entrepreneurship is a Male-Oriented Circle
Moreover, female entrepreneurs also do not have efficient networks which can sustain leveraging and learning resources like mentorship, business advice and knowledge. Majority of the business and enterprise culture is mainly male-oriented and hence women are mostly excluded from these circles.
Last but not least, women also lack help and support from their communities and peers to follow their entrepreneurial dreams. Numerous societies still dishearten females from developing their own businesses and very few role models are present around such women who could encourage them.