Future Challenges of Women Entrepreneurs and their Success Factors

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Future Challenges of Women Entrepreneurs and their Success Factors


Future Challenges of Women Entrepreneurs and their Success Factors

Future Challenges


Entrepreneurship was once considered a man’s domain, but it has changed a lot. Although more women are becoming entrepreneurs, they face a set of challenges that male entrepreneurs do not face. The following are some of the challenges of women entrepreneurs.


1. Financing and credibility: 
Access to finance is a major challenge for female entrepreneurs. They have difficulties accessing finance for various reasons, including poverty, limited employment in the formal sector, and cultural barriers to land and property ownership. Access to bank funding is difficult for women-owned small and medium enterprises.

2. Building a support network: 

The high-level business world is dominated by men. In such a situation, it is difficult for female entrepreneurs to make connections with more elite business networks.

3. Balancing business and family life: 

Females have to simultaneously run their families and their companies. Mothers who start a business have to simultaneously run their families and their companies, which is challenging and stressful. Mompreneurs have dual responsibilities to their family and their business and finding time to balance the two is not an easy task for anyone.

4. Fear of success: 

The fear of failure is a major concern of women who launch startups. Women are found to be less confident about the success of their ventures.

5. Being decisive: 

An entrepreneur needs decision-making abilities. Women entrepreneurs are found to have comparatively less decision-making power than their male counterparts. This may be due to a lack of information and multiplicity of orientation, roles, and responsibilities. The nature of their life is multi-faceted.

6. Lack of role models: 
Women normally start businesses in the sectors where they have work experience, skills, and networks. They are less involved in technical positions, as well as in the sectors like construction, transportation, and mining. This is one of the important reasons that male entrepreneurs get better media coverage and visibility.

Success Factors


The following are some of the success factors of women’s entrepreneurship.

1. Women Empowerment through education and training:
Women entrepreneurs require pre-entrepreneurial training to plan an organized business venture successfully. Support from organizations can greatly enhance the capacity of women entrepreneurs.


2. Financial support policy: 
The greatest constraint facing women entrepreneurs is a lack of funds. More avenues and platforms need to be introduced by NGOs, banks, financial institutions to encourage women entrepreneurs to join as business start-ups in the economic activity.

3. Framework for a strategy to support women entrepreneurs: 

Women have the tendency to develop their enterprises by relying on their own resources and move on in their business in their own ways. Hence, there must be provisions to support women’s entrepreneurship strategically.

4. Microfinance policy: 

Microfinance is a source of financial services for small entrepreneurs who lack access to banking and related services. It normally adopts two models. The first is banking based on relationships. The second is it follows group-based models wherein which loan is offered on group collateral. Microfinance facility is very important for the success of women entrepreneurship especially in a country like Nepal where the condition of women is quite unsatisfactory.

5. Social support: 

The attitude of society is still not very much positive on women’s entrepreneurship. People still think women can better be inside the home. If women’s entrepreneurship is to be taken as the driver for social and economic development, society should change its attitude towards women’s entrepreneurship and support it.


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