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Why women make better entrepreneurs - in honour of International Women’s Day

March 04, 2018

Aruku - little girl at feminist march thumbnail

Aruku - girl at feminist march

Feminism – a word that has, debatably, been admired and derided, over-used and under-used, misrepresented and perverted.

I’ve been brought up (by a working mum and a stay at home Dad) to believe in equality and taught that if I work hard I can achieve anything. Yet despite an unwavering belief in gender equality I’ve had a troubled relationship with the label feminist. There was a time when I thought it stated too much, asked for more than was possible, maybe wasn’t even needed anymore. Hadn’t we achieved equality?

The seemingly never-ending press exposés of sexual misconduct and pay disparity over the last 18 months has disabused this entirely fictitious assumption, and my first steps into a world of female entrepreneurship has shown me that despite huge strides we still have a long way to go to ensure that from a young age, girls and boys are given the same opportunities.  

So, although my original intention was to make this blog an informative story of a start-up to give those going through the same journey support and advice, I felt that taking a step back and addressing the barriers preventing women from becoming entrepreneurs was a subject well worth addressing.

To any woman considering starting their own business but thinking that the challenge is an insurmountable one, take a moment to consider the skillsets required and whether you possess them. Statistics suggest that, as a female, you are far more likely to possess the necessary skills to start a successful business, as well as making more money than our male counterparts.

Organisation – studies have shown that women multi-task better than men* – a key skill when you’re a workforce of one tackling every job imaginable.

Emotional Intelligence – studies have also shown that women outperform men in 11 of 12 emotional intelligence competencies. This leads to increased self-awareness, which allows you to understand your own strengths and weaknesses and therefore a reduced likelihood of making mistakes. Emotionally intelligent people are also more self-motivated and have the ability to face obstacles with resourcefulness and optimism.

Budget management – multiple studies find that women are better at budget management than men. They are less likely to take unnecessary risks and show better judgement when it comes to investing due to a natural cautiousness.

Attention to detail – Women tend to absorb more information through their senses and store more of it in the brain for other uses, therefore, women generally have more interest in details and pay more attention to them than men do***.

All of the above are crucial qualities for entrepreneurs, and yet despite women excelling across the board, in the UK men are still twice as likely as women to start their own business****. So let’s be part of the generation that changes this behaviour. Don’t let doubt or fear hold you back – be confident that you possess the skillset to be a successful entrepreneur. And what better day than International Women’s Day to start that journey.

 

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http://www.goodhousekeeping.co.uk/news/women-multi-task-better-than-men  

** https://www.forbes.com/sites/victorlipman/2016/03/11/new-study-shows-women-consistently-outperform-men-in-emotional-intelligence/#75156c8f335d

*** https://www.huffingtonpost.com/rebecca-shambaugh/different-brains-differen_b_9480952.html

**** http://www.independent.co.uk/news/business/news/gender-gap-entrepreneurs-narrowing-male-female-numbers-start-ups-report-a7823491.html






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