Invoice Bazaar Blog

What are some of the significant challenges women entrepreneurs face?

By Invoice Bazaar | December 24, 2021

Many countries in the world are still patriarchal in nature. In such countries, women’s lives are generally dictated by their fathers, husbands, sons, or some male members of their families. So, women tend to face various social, cultural, or legal discriminations or hurdles in those countries. Finding a foothold in the business world in societies governed by patriarchal communities is never easy for women entrepreneurs as they have to contend with a wide range of challenges while trying to establish their business ventures. Some of the significant challenges are discussed below.

For instance, having a robust support system or strong network is crucial for entrepreneurial success. Since the business world is primarily dominated by men in most countries, women find it very challenging to create a business or entrepreneurial network of their own. Meanwhile, sometimes, employees are also reluctant to take orders or learn from women. Hence, unlike a male business owner, the woman entrepreneur finds it relatively difficult to build a suitable support network while operating her business.

Moreover, due to cultural and gender biases, banks and financial institutions which readily fund male-owned businesses are hesitant to give loans to entrepreneurial ventures promoted by women as they consider the latter less credit-worthy. Even a report by Bloomberg says that women-owned business ventures receive much less funding than male-owned businesses. Therefore, female entrepreneurs find it quite challenging to raise capital while striving to start or establish their business enterprises.Furthermore, women worldwide are expected to take care of their spouses and children and simultaneously manage household chores. So, compared to her male counterpart, a woman entrepreneur typically has to juggle multiple roles and shoulder dual responsibilities – that of her business venture and that of her family. Under such a situation, she may find it quite difficult to balance her business and family life and accomplish a work-life balance. So, setting up and managing a business organization may prove an uphill task for women entrepreneurs.