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6 Reasons Why More Women Are Turning To Entrepreneurship

There are a lot of challenges that women are facing in the modern world. And it gets doubled when they try to break through the glass ceiling of male-centric stereotypes in the workplace. But you should know that you can’t achieve greatness with a small mind, and getting into an entrepreneurship journey is extremely rewarding.

Nowadays, women are taking the courage to excel and become the masters of this art. Recent studies show that more than 63% of women entrepreneurs are dependent on their business as their primary revenue source. This challenges the old stereotype that women only run lifestyle businesses for supplemental income, rather than as a primary source of income. Instead, today’s women are breaking this stereotype, and becoming good at it. 

It’s no surprise that more and more women are becoming more attracted to entrepreneurship, compared to traditional career paths. Here are some of the reasons why women are turning their dreams into reality.

1. To get what they deserve

You might have heard about the pay gap that women are facing today, and their struggle to climb the corporate career ladder whilst lesser qualified men seemingly ‘float’ their way up with less effort. Recent statistics show that women are 20% less likely to be promoted in their careers as compared to men, even with equal rates of work efficiency and task completion. The study suggests that the slow pace of promotion is increasing because of the way women are treated at the place of work. As a result, more and more women tend to turn to entrepreneurship to equalize gender inequality in the workplace. Essentially, they’re creating their own workplace.

“Stay on your game and keep going for your dreams. The world needs that special gift that only you have.”- Marie Forleo

2. To follow their passion and grow

It goes without saying that women are efficient and intelligent. They’re also known for their work ethic led by their heart that enables them to build, sustain and grow a high-performing team and business. Women possess some of the most vital traits required for growing a successful business, such as tenderness, affection and empathy. Entrepreneurs without these traits cannot attain wisdom and gain insight from different aspects required for creating a business. 

3. To be more independent and free

There are several benefits of working as an employee in an organization. You don’t have to think about the primary source of revenue that you have to pay your workforce. You don’t have to worry about asking yourself how to build a prosperous business. All you have to do is carry out the same task you have done in your 9-to-5 job every morning.

This comfort is suitable for some people, but the reality is every job comes with significant levels of uncertainty. You’re not necessarily safe in the event of a company’s reorganization that might lead to corporate changes or layoffs. On the other hand, being an entrepreneur gives you complete control over the activities of your business, and the flexibility to take the necessary steps required for growing your business. Though you might face many difficulties in running your business, in the end, you will pay the checks and create your own empire. 

4. To explore their true potential

Have you ever counted the number of times you’ve been shot down by a superior when you share your opinions during meetings? How many reasons did your superior give to decline your promotion? There are an incredible number of doors available for you that have been closed by someone in charge. 

Instead of letting someone write your destiny, you can develop an excellent environment for turning your dreams into reality. Entrepreneurs are able to realize their true potential and are able to excel in their life. In turn, women entrepreneurs can grow a business that makes a difference, and helps reduce gender inequality. Once you’ve reached a point where you can start hiring people to grow the business, you’ll become a leader and start having a direct impact in people’s lives.

5. To become a beacon of hope for other women

When it comes to staking a claim in the world of business, we may think about famous visionaries like Bill Gates, Mark Zuckerberg, Warren Buffett, or Elon musk. These people have portrayed a new and innovative way of thinking, as well as how to generate new business opportunities. 

It is quite challenging for inspired women to be successful as the aforementioned founders due to the gender inequality index. This indexing has led to a 49% loss in the development of human beings. This is the main reason why we need more female entrepreneurs, who embark their presence on the world, which shows you can do whatever you believe in. 

In 2011, around 14% of entrepreneurship was owned by women, which substantially increased to 20% in 2021, and that number is consistently increasing worldwide. More and more women are leaving their 9-to-5 job to work with complete insecurity. The best thing about being an entrepreneur is that you have the flexibility of creating your own rules and taking charge of what you deserve. Plus, you don’t have to worry about choosing between your career and your personal life or family. 

“We need to re-shape our own perception of how we view ourselves. We have to step up as women and take the lead.”- Beyonce

6. To earn according to their worth

It’s no surprise that women can build an incredible career in the corporate world. You can look at the bright examples of successful businesswomen like Mary Barra (the CEO of General Motors) and Sheryl Sandberg (the COO of Facebook), who attained tremendous success and acknowledgment for working in big companies and making huge impacts. 

It’s not an easy task to be played by someone else and so, put yourself in a situation where you can create a fortune with your work ethic. However, many women face problems in the pay gap at their workplace, which brings a great level of dissatisfaction and the urge to take their career to a whole new level.

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