More Women in Business 1.0

An eye opening report by the Supreme Council for women show that we are falling behind when it comes to unemployment with the percentage rising and with less vacancies reserved for women.

A great way to combat this issue would be to create more women entrepreneurs that can employ women, as it is an effective means to both create employment and empower women. Though statics in Bahrain show that we have more women registering for commercial registration, an increase of 37.01% over the period of 2007 – 2011 from 23,301 to 31,925 women are still less likely to want to start a business than a man. Women generally have less confidence in their abilities to start up, and have low expectations for businesses they do end up starting. So what is the deal here? Why are women holding back?

Timing is an issue with women more likely to consider having children at the age of 25 – 34, which is the time that most men start planning a business they would want to initiate.

For women and men who have the same back background in education and training, studies have shown that men feel they have the capabilities of starting a business when women are not nearly as positive. And for those who do start a business, a man can overcome the fear of a starting up as with time, when women develop a deeper sense of fear for their business that increases with age.

Established entrepreneurs should see it as their duties to act as role models in our society. Women’s networks are smaller and focused on friends and family, and while men are more likely to know and meet a male entrepreneur that can act as an inspiration and role model when starting up. With more women entrepreneurs being active and sharing their success stories, more women feel they can do it too. 

Women are also more likely to limit their success by choosing businesses that are consumer focused, which have less growth potential than a service based business which can grow at a much faster rate over time.

It disheartens me to see women put themselves down when I come across this, and not believing in themselves and their own abilities. We need to act big and dream big. Sourcing women mentors to act as our role models is a great way for us to believe in our capabilities and ourselves. Financing women owned start up businesses is a great way to start a dominoes effect as well.

Entrepreneurship programs dedicated to women is also a way to get more women educated on the conditions of business and can provide them with tools, advisory services and networking opportunities to prepare them for the journey ahead.  But training in skills is not enough, many women lack belief and confident in their skills, so bundle services that develop a supportive environment for women to succeed is crucial. Creating more women in business, is the most effective means of decreasing employment, and promoting economic growth and I look forward to see more initiatives launched by associations, organizations, and private businesses that can provide a platform to increase the number of women entrepreneurs and decrease unemployment for women.