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By: Ellie Burgueño
The challenges and obstacles that women entrepreneurs face today are many, as we continue in the fight for equal rights and dignified treatment, as well as the fight for the recognition of our achievements and capabilities.
Listing the most relevant challenges is a task I gave myself to broaden the panorama and to be able to identify which ones we encounter more continuously, and to acquire the tools to face and overcome them.
In the 21st century, women entrepreneurs still face invisible barriers or a “glass ceiling” for fear of risk.
In Mexico, 51% of the population is made up of women, but only 34% is part of the Economically Active Population and only 19% of women participate in the entrepreneurial sector, according to figures from the women’s business accelerator Victoria147.
Today we want to be more independent and have different aspirations.
In a changing society, men are increasingly involved in household chores and women are more inserted into the world of work, there are still obstacles that make them meditate between being mothers or starting a business project.
- A circle of support
A circle of support is very important for the entrepreneurial woman. The moral support of family and close friends is very important because it is the first circle that surrounds women. In it, we can find advice, encouragement, and even financing.
- Mental obstacles
When a company promotes a man to a higher position, he takes responsibility and risks with 68% of the skills and knowledge. A woman does it when she feels 95% ready, women tend to prepare more to compete in the world of work where we continue to have a great disadvantage compared to men.
- Partner selection
For fear of being alone, women choose the wrong partners, people who don’t allow them to grow, develop and who hold back their projects. It’s important to be with the person who makes you shine and whom you make shine, someone who does not steal your energy, who is your support and your confidant, your friend, and your motivation to achieve, rather than an obstacle to getting ahead.
- Fear of failure
The main challenge we face when starting a company is the fear of failure, but facing it and failing in projects has been the solution to growth, according to the majority of experienced businesswomen.
- Education and training
The Government, business chambers, and civil associations offer programs and support for entrepreneurs; however, they need to be more widely disseminated. With information, women entrepreneurs will have the opportunity to choose what they want to do, make decisions, and take responsibility.
- Learn about more success stories
When women realize that there are more stories like theirs and that regardless of the difficulties these women fulfilled their goals and dreams, they too are inspired, experts agree.
- Adequate infrastructure
In order for women to be able to devote sufficient attention to their projects, it is necessary for schools to extend their hours and to have more childcare centers near offices since the obstacle to the progress of many women is precisely the lack of options for both, childcare as education.
- Finding funding for a project or business
Commercial banks, microfinance institutions, and the government have designed specific products for entrepreneurs. If a woman knows how much money she needs, what her payment capacities are, there is no problem in requesting a loan from a bank or the government.
- A balance between business and family
The business challenge is to balance business and family. Women are the backbone of a family and are often torn between commitment to family and business development. How do you handle that challenge? The answer lies in time management and delegation and usually in the choice of a travel companion.
- Stress management
Lastly, but not the least challenge, is the stress and stiff competition associated with running a business. The entrepreneurial process of building a business from scratch involves hard work, commitment, and persistence. Business is a tough game, and often when a woman is tough, men can’t stand it.
When faced with these kinds of challenges, you have to use the art of delegation and time management. Getting to delegate tedious business tasks and focus on management and direction issues.
Your ability to overcome these business challenges is what will make you a successful entrepreneur.
