Even today, there is a general notion that`s prevalent in many parts of the world. Women are still thought to be the homemakers rather than doing anything with commerce or in any industry. Fortunately this picture is gradually fading away. As trends are changing and more women are in key positions in small, medium and large enterprises.
Another significant trend is that many women are staying in the home, but not as homemakers. They are entrepreneurs. The number of small businesses owned by women is growing 50% faster than the total number of small businesses, according to a small business monitoring report from American Express. And by 2018, one-third or roughly 9.72 million of new U.S. jobs will be generated by female-owned companies. This is a significant increase from the 16 percent of the total US jobs created in 2010.
Even with the recession and economic downturn, many women-owned business adapted to the change. The women business owners have been quick to transition from traditional marketing methods in favor of using social media to boost their client base. Women are natural at multi-tasking, balancing their family life with business and are running highly successful small businesses. Other small businesses are popping up to cater to these home-based women-owned businesses.
This trend is improving. Women all over the globe are proving to be economically minded, financially resourceful and they are embracing the option of owning businesses. At present, there are major corporations, banks, and foundations that are focused on helping women around the globe start sustainable businesses. Many of the barriers are being removed, but it still has its difficulties.
So of the challenges that many women face when they think about starting a business are:
· Little or no family support
· Lack of capital
· No access finance
· No education or understanding of how to start a business
· Lack of self-confidence and self-belief
In a study by Babson College in 2010, conducting in 59 economies, they found that more than 104 million women between the ages of 18 and 64 were actively engaged in starting and running new business ventures. Further, another 83 million women were running businesses they had started within the prior 3 years. Altogether, that`s 187 million women creating and operating businesses.
In the under-developed countries, most women are motivated by necessity, although that`s changing too. In the most developed countries, women are starting businesses because they spot opportunities.
Here are some tips of things to do before starting a business:
· Find a mentor or a support system
· Find or start a women`s networking group
· Invest time learning what you need to know before you start.
· Speak to other women business owners to learn about their experiences
· Find out about grants or funding for women starting a business.