Astonishingly, around 12 million companies/businesses in America alone are owned by women.

Though most are sole traders, it's estimated that more than 10 million people are employed by female entrepreneurs who manage to generate revenues of an impressive $2 trillion each year! These figures sound incredibly encouraging. However, believe it or not, even though females make up just over 50% of the population in America, businesses owned by women are nevertheless substantially in the minority!

The world average of female top executives is 8 percent. It may surprise you to know that Thailand has the highest proportion of female CEOs in the world, with 30 percent of companies employing female CEOs, followed by the People's Republic of China, with 19 percent. In the European Union, the figure is 9 percent, and in the United States, it's just 5 percent. Women hold only 14.2% of the top five leadership positions at the companies in the S&P 500. According to a recent CNNMoney analysis, out of those 500 companies, there are only 24 female CEOs — not because men are better qualified or educated, but because the system is stacked against females progressing in the workplace. These figures are not only a disgrace but also something we strive to change for women's equality everywhere.

Female entrepreneurs face many challenges which are often different than those experienced by male entrepreneurs — the chasm between genders in the business world is still archaic and outdated, but sadly, nonetheless present.

Here are just a few of the challenges women face:

1. Not being taken seriously.
2. Intimidated, demeaned, mocked, and shut down by males during meetings.
3. Statistically, it's far more difficult for women to raise business investment/capital.
4. Less than 3 percent of venture-capital-funded companies have female CEOs.
5. Closing the gender pay gap.
6. Playing down their accomplishments so as not to upstage their male counterparts.
7. 48% of female founders report that a lack of available advisers and mentors limits their professional growth, according to Inc.
8. Balancing business and family life.
9. Fear of failure.
10. Lack of support.

The obstacles listed above are not confined to so-called developed nations but are present around the globe in general. One would think that all our laws to ensure gender equality would give women in Western counties a distinct advantage. However, the facts do not relate to this. In some African countries, for example, women make up over 50% of business owners, and even though they face intense covert and overt discrimination — they persevere regardless; mainly through an economic necessity for survival.

So, what are we going to do about it?

In developed nations, we, too, as women, have a necessity for independent economic survival in an environment still dominated by our male counterparts. Statistically, over 50% of marriages end in divorce, generally leaving women with the children in their care, causing them to put their desired careers on hold as they are perceived to be less employable due to family commitments. Or mothers, even though well educated, are forced to take several menial jobs to make ends meet while putting their children into daycare centers to be looked after by virtual strangers. It's not an ideal situation, but what can we do? 

More and more women are holding off committing to a serious relationship because they want to be financially secure in their own right, just in case they're left holding the baby, literally. Even once committed to a partner, women hold off getting married and having children for similar reasons; first, to become secure financially. Thus, being financially independent by becoming an entrepreneur is an increasingly attractive option for women.

We need to be smart in our choices!

Taking everything into consideration concerning the obstacles we face, we need to turn those obstacles into stepping stones through sheer determination and a well-constructed support system. Knowledge is power, so the more we get to grips with what we're up against, the more we can figure out ways to overcome it. Women are historically incredibly resourceful and innovative; there isn't much they can't figure out with the right support, tools, and inspiration to succeed.

Service-based companies are an ideal solution for many too. For example, with the millions of women needing childcare, you may decide to become a childcare giver; you already have a consumer base who are clambering for trustworthy, flexible, and affordable care placements, so why not capitalize on the need? Or perhaps you are a great organizer who could work as a company PA but have childcare commitments, so you could, with the right setup, become a Virtual PA and work remotely from home. Maybe you're OCD, that's great, so what better business to start than a cleaning company that's a cut above the rest?

The possibilities are endless.

It really doesn't matter if you have a college degree or not. What really matters is whether or not you are driven and determined. In my extended family, for example, at least three of the serial entrepreneurial, self-made millionaires, were illiterate. They may not have been good at reading and writing, but they were brilliantly innovative, creative, resourceful, and smart. Though mistakes were sometimes made, they nevertheless had the courage and determination to succeed. What made them successful was that they trusted their instincts, then sought, and collaborated with, people who could help make it happen.

So, when we look at the challenges women face, there are three which stand out the most.

1. Lack of support and available advisers and mentors limits their professional growth.
2. Not being taken seriously.
3. It's far more difficult for women to raise business investment/capital.

As I said, it's about being smart in your choices and turning obstacles into stepping stones. Let's quickly address the three 'obstacles' listed above.

1. Be resourceful and hook up with other female entrepreneurs who will mentor and support you. Investigate your options by using your search engines locally, nationally, and globally.
2. By finding the right female support and mentors, you will very quickly find that you are indeed being taken seriously by women who have walked in your footsteps and can guide you in the right direction.
3. If you're looking for investment from a professional lender or family members, etc. — you have to work harder than your male counterparts to secure much-needed capital to get you off the ground or to keep you moving forward if you're already set up and running. Therefore, your business plan/model must be pristine in its presentation of performance and financial projections. Facts and figures will give an investor confidence in what you aim to achieve. It also shows that you have your ducks in a row and can answer any relevant question about your vision. 

It doesn't have to be stressful because we've got your back!

The team at Empowering Businesswomen are dedicated to helping other women reach for the stars. No matter how small or big your ideas are, the team will examine where you're currently at on your journey. We guide you onto the right path by mentoring you and coaching you on how to achieve your goals to be financially independent and successful in your own right in your chosen venture. Plus, and very importantly, we provide you with all the best tools you'll need to build a competitive and robust business model. We also advise you on which integrated software you'll need to pull it all off, then coach you on how to set up and use the best available software.

Knowledge is power, so we aim to empower you by teaching you exactly what it takes to run a successful 21st-century business from start-up to marketplace, including expanding your company. It will take dedication, hard work, and tenacity, but then, what woman doesn't have those qualities in abundance? So let's capitalize on those skills to elevate you as a businesswoman to be taken seriously. Let's show the world we 'can do', despite any obstacles — now wouldn't that be an achievement to be proud of? 

Though we've come a long way in terms of opportunities for women in a man's world and have built upon the struggles of our mothers and grandmothers for equality, we still have a long way to go. Past generations of women were pioneers, and we need to continue the momentum and be pioneers for future generations of females all over the world, by demonstrating to them in real time that they too can overcome anything to achieve their dreams. You, too, are also more than capable of being a mentor to other women — what a beautiful thought.

Why not have an informal chat with me, Rania, so we can have an open and honest brainstorming session to see if you're on the right track or if your idea will make you enough profit to sustain your desired lifestyle? Plus, I'll advise you on everything you'll need to acquire and how to capitalize on your resourcefulness. Then, I'll teach you how to make the best of it. It's all about you being in the driving seat moving forward.

Love your biggest supports,

Rania & Team EB