Why so many Women are becoming Entrepreneurs
I love seeing women entrepreneurs killing it! It inspires and motivates me to continue on my path. For me it’s no surprise women are choosing to run their own successful businesses, since we are natural born leaders.
Our feminine traits which at one time were thought of as a weakness in the workplace are actually proving to be a strength. Our nurturing and patient nature enables us to foster growth and development in the people we mentor. Our communicative and collaborative skills allow us to effectively work as a team to resolve issues. Our intuitive guidance helps us better assess risks and hire the right people.
Women understand that to be successful in business you have to be as equally concerned about the emotional as well as financial aspects of the company. A good company doesn’t just focus on dollars and cents they make sure their team feels valued, safe and appreciated.
Statics Canada reported that from 2005 to 2013 women in small businesses experienced faster growth compared to men in the same industry. To me this makes perfect sense, many women like myself are turning towards self-employment, especially once they become mothers.
Here is why many women, especially mothers are becoming entrepreneurs:
Limited or High Cost of Childcare
More and more young families are not living near their extended families. Leaving the parents to rely on daycare. Childcare facilities can be limited depending on where you live and many don’t take young children. If a mother is lucky enough to find a daycare that will take her baby at 12 months, she is only able to work Monday-Friday and between the hours of 9am-5pm. Also, childcare can be expensive so in order to make it worth wild for the family the mother needs to have a high paying job.
Choosing between having a Family and Career
Unlike men women have a limited time to decide whether or not they are going to have children. During our late 20’s and 30’s when we are focused on getting our careers off the ground our biological clocks start to call. Often we are left with a choice to pause the career or motherhood. Most women become entrepreneurs because they desire to have it all, the family and the career but on their own terms.
The Work/Life Balance
The responsibility of raising little ones still largely falls on the mother. The mother is more likely to be the one to miss time from work if her child is sick. As a result, she requires a flexible work schedule to meet the needs of the household. A lot of companies can be very unsupportive to the needs of a working mother, making it very difficult for a mother to continue working. This is one of the biggest appeals of being an entrepreneur you get to create your own schedule.
Wanting a Purpose and Making a Difference
A lot of women become entrepreneurs so they can make a living doing what they love. They can create a purpose for themselves that is separate from motherhood. At the same time make a positive impact in the world setting an example for their children.
I predict that the rate of woman running enterprises will continue to grow. Especially, if the current business model doesn’t change to better serve the needs of families and government doesn’t address the need for better childcare services. In the meantime, to all you women in business continue killing it and rewrite the model to work for you.