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[[category:{{Project|Has project output=Content|Has sponsor=McNair Projects]]Center|Has title=Challenges Women Entrepreneurs Face (Wiki Page)|Has owner=|Has start date=|Has deadline=|Has keywords=|Has notes=|Has project status=Complete|Is dependent on=}}
Challenges Women Entrepreneurs Face Although women-owned businesses are the fastest growing segment in the US economy, there are some significant obstacles that women entrepreneurs have to face, especially those pursuing a hihghigh-growth pathway.
'''Although a notable amount of existing programs provide useful services and good foundations through the early stages of business, there is a lack of offerings beyond these services. The need for women entrepreneurs pursuing high growth pathway(especially those transitioning from lower growth to high-growth strategies), however, tend to be more sophisticated and complex. These businesses need special mentoring at their critical transition phases. Women-owners in high-growth ventures often experience working capital deficiencies, lack experienced personnel, lack the internal processes and systems that enable scalability and may also face complex international matters. Moreover, these problem may be amplified for women-owned businesses because they tend to be smaller in size with less debt equity, have fewer employees, and have fewer networks to leverage[http://www.swc-cfc.gc.ca/initiatives/ep-ce/ep-ce-en.pdf]. Mentoring After Early Stages'''programs can give significant assistance to those fast growing companies that are facing greater market and organizational complexity and seeing new opportunities for growth.
Although a notable amount of existing programs provide useful services and good foundations through the early stages of business, there is a lack of offerings beyond these services. Mentoring programs may serve established firms or growth-oriented startups only. The need for women Women entrepreneurs pursuing high growth pathway(especially those transitioning from lower growth to with high-growth strategies)firms require affordable, howevercustomized support services. They require committed mentors, tend who are experienced business leaders available to be more sophisticated answer urgent questions and complexminimized unnecessary risks. These businesses need special mentoring at their critical transition phases. Women-owners services are scarce in high-growth ventures often experience working capital deficiencies, lack experienced personnel, lack the internal processes and systems that enable scalability and may also face complex international matters. Moreover, these problem may be amplified for women-owned businesses because they tend to be smaller in size with less debt equity, have fewer employees, and have fewer networks to leverage. [http://www.swc-cfc.gc.ca/initiatives/ep-ce/ep-ce-enour current ecosystem.pdf]
'''Linking Mentors and Entrepreneurs'''
In fact, the business of mentoring high-growth firms is itself a high-growth industry. However, even after an appropriate mentor has been identified, there is still the problem of linking the mentor and the entrepreneur. [http://iveybusinessjournal.com/publication/rapid-growth-firms-the-challenge-of-managing-information-technology/]
=Work-life Balance=
Challenges Women Entrepreneurs Face (Wiki Page) (view source)
Revision as of 13:39, 21 September 2020
, 13:39, 21 September 2020no edit summary
=Limited Access to Capital=
===Effects===
Partly due to the financing and funding problem, women-owned firms are typically smaller than men owned firms. Average sales, assets, profits and employment for women owned firms are much lower than men-owned firms, and have grown in a slow rate. only 3% of majority women-owned businesses have revenue over $1 million compare to 6% of majority men-owned business. The average revenue of women-owned firms is 27% of the average revenue of men-owned firms, as of 2008[https://www.nwbc.gov/sites/default/files/growthpap.pdf].
=Mentoring Gap=
=Work-life Balance=
Work-life balance is a challenge for many entrepreneurs regardless of their gender, but mothers who start businesses may have dual responsibilities to their businesses and to their families. Finding a way to balance the two is not easy.
===Mompreneurs===
Mompreneur is a neologism defined as a female business owner who is actively balancing the role of mom and the role of entrepreneur. A 2011 MSNBC article declared the rise of the mompreneur to be a hot trend in the small business sector[http://www.nbcnews.com/id/40969268/ns/business-small_business/t/successful-mompreneurs/#.V1ryQvkrLRY]. Most of mompreneurs are self-employed since self-employment promises more flexibility than wage earning occupations in which hours of work are rigid. And internet allowing mompreneur to sell products out of the home.
=Efforts in Solving Overcoming the ProblemChallenges=
===From government===
Congress has focused on improving and expanding SBA-backed small business lending programs. Women are three to five times more likely to be approved for an SBA-backed loan than a traditional loan[http://www.microbiz.org/wp-content/uploads/2014/07/21st-Century-Barriers-to-Womens-Entrepreneurship.pdf]. Through the [https://www.sba.gov/about-sba/sba-initiatives/small-business-jobs-act-2010 Small Business Jobs Act], Congress increased the maximum SBA Microloan amount from $35,000 to $50,000, which has given women-owned businesses access to more credit to start and grow their businesses.
Goldman Sachs launched [http://www.goldmansachs.com/citizenship/10000women/news-and-events/10kw-progress-report/progress-report-full.pdf 10,000 Women] to provide women entrepreneurs around the world with business management education, mentoring and networking, and access to capital.
===From investorsInvestors===There are more women investors looking for women-led companies and supporting young and less experienced women entrepreneurs. Here is a [http://blog.girltank.org/angel-investors-looking-for-women-entrepreneurs/ Listlist] of angel investors focus on supporting women entrepreneurship.<!-- flush flush --><!-- flush flush --><!-- flush flush --><!-- flush -->
