The Dalai Lama stated at the Vancouver Peace Summit in 2009: “The World will be saved by the Western Woman. ” (watch my exclusive YouTube episode on this) Every time I think of it, I get goose bumps. I find this prophecy evocative, powerful, uplifting and promising. It is a prediction that has come true and is still unfolding. That’s why I believe the future truly belongs to women entrepreneurs. Just see the following statistics:
- According to the Global Entrepreneurship Monitor (GEM) survey of 2016, women’s entrepreneurship rates have increased 13% when compared to the male entrepreneurship which has shown a 5% increase.
- The fact that CNBC’s Upstart 25 list has strong female representation, in diverse areas like neuroscience, finance, retail, products, services, social missions, is indicative of their all-rounder progress and success.
- The 2016 Kauffman Index of Startup Activity indicates that 40% of new entrepreneurs are women.
This trend is not on the rise in just the USA alone but is common in many countries. Experts have determined that the factors that have contributed to the recent spike in women entrepreneurship trends are: evolving technology, better funding options, better role models and mentoring opportunities. Following are the reasons behind this strong trend:
Better Funding Opportunities
Lack of Funding has been an issue that women entrepreneurs continue to face; however, there certainly have been improvements in this respect. Many organizations have invested in women ventures because they believe that women running small businesses pose a low credit risk, are likely to repay loans, and have a strong tendency to reinvest their profits in family and community for betterment. Techpreneurs have a greater advantage on other types of women entrepreneurs, as being in the Silicon Valley gives them a better access to start-up capital. Crowdsource funding is also a good source of capital for women entrepreneurs. Venture-backed funds which are headed by women are more likely to invest in women entrepreneurs. Last but not the least, women entrepreneurs have a better chance of getting loans from their family and friends when compared to their male counterparts due to stronger interpersonal relationships and bonding.
Entrepreneurship and Technology is the combination that has helped women give a whole new meaning to the term ‘breaking the glass ceiling’. For decades, women had to quit their jobs and put their careers on the back burner due to the need to take better care of their families. However, technology and the role it is playing for women entrepreneurs has enabled them to get back into the workforce, on their own terms. The access to mediums like emails, facebook, Twitter, Linked in, Instagram, Pinterest, etc, is allowing women to tap into the global marketplace. A laptop lifestyle is powerful, profitable, and liberating.
Better Role-models and Peer to Peer Mentoring
Women entrepreneurs are no longer lonely in their journey. Media and technology have played a great role in highlighting the achievements of women entrepreneurs and showcasing their work, which has helped women entrepreneurs emerge as inspiring role-models. When these women candidly share their triumphs as well trials and pain in the entrepreneurial journey, they inspire other women to do the same and bear the challenges encountered on the way. Besides inspirational figures, women entrepreneurs also tend to act as great mentors giving solid advice in areas like finance, investing options, networking, support mechanisms, technology, etc. I would add personal and professional development coaches to this list, as they help women entrepreneurs realize their true potential, overcome doubts and inner barriers, and stay on track.
Therefore, the time to become a woman entrepreneur has never been more ripe and right. There are opportunities that already exist there and those that are still unfolding. It’s just a matter of finding yours. As an Abundance Miracle Abundance Coach, I have been helping women realize their true bliss and run profitable businesses they are proud of. Check out my coaching calendar and mark a date for yourself. Together, we will find out ways for you make 2017 your most profitable year yet. With personalized and detailed assessment, advice, and recommendations, you will get with me all the resources you need to get your business off ground and make it soar.