Men's Role in Success of Woman Entrepreneur

Men's Role in Success of Woman Entrepreneur

Before dwelling in the success of women as entrepreneurs and the inspirations they derive from men, it is essential to discuss the definition of an entrepreneur, to better understand what the role of women entrepreneur is, in today’s competitive world.

According to Bowen & Hisrich (1986) “The process of creating something different with value by devoting the necessary time and effort; assuming the accompanying financial, psychic, and social risks; and receiving the resulting rewards of monetary and personal satisfaction.” Similarly Mintzberg (1990) defines entrepreneurship as “a voluntary initiator of change, constantly on the lookout for new ideas.”

As far as women entrepreneurs are concerned, their percentage has seen to be increasing from 5% to 30% in USA since the 1970s (New Economic Realities, 1988). A major rise has been experienced in the number of women entrepreneurs from 1975 to 1990 where compared to their male counter parts, women entrepreneurs are increasing at double the rate (Brush & Hisrich, 1991; Moore & Buttner, 1997).

The growing rates of women entrepreneurs in different developed countries include 30% in Denmark, 26% in France and 31% in Sweden in 1997 (Kjeldsen & Neilsen, 2000). Similarly in 2003 21% small businesses that were run by women, increased to 28% by 2004 (Hancock, 2004). 

Women have been contributing with their entrepreneurial skills in many different sectors in the past few decades and since previously no specific researches were done in this particular field, before 1970 to be specific, more investigation began to take place in the later years of the decade, in order to explore the sociological and psychological traits of women entrepreneurs compared to their counterparts, the male entrepreneurs (Brush, 1992).

It would be vital here to discuss that even though women entrepreneurs’ percentage is increasing worldwide however there are still very wide gaps between active male and female entrepreneurs in the practical field and a lot of difference has been noticed between the two in terms of engaging in different entrepreneurial activities. These differences exist in choices regarding financing strategies, industry choices, governance structures and growth patterns, preparations, motivations and goals, organization, access to resources and strategic orientation (Greene et al, 2003). 

To better understand the role of men in the success of women entrepreneurs, here initially we will be shedding light on the factors that are facilitating and hindering women entrepreneurs in the past few decades. 

Women have through time adopted a lot from men walking in their footsteps with regards to risk taking, decision making, etc. Even though as wrongly thought of, there are many fronts on which men and women fare equally as evident in a study conducted by Masters and Meiers (1988) in which they state that when comparing male and female entrepreneurs there are no significant differences in the propensity of risk taking. They also advocate that gender has no role to play in being either successful or unsuccessful in business.  Also according to other researches Men and women have no significant difference on the six value dimensions termed as Theoretic, Aesthetic, Economic, Political, Social and Religious (Boulgarides, 1984).

Besides considering the fact on whether men and women entrepreneur possess differentiated traits or qualities another are on which the report will be touching further on is why women felt the need to become entrepreneur, what compelled them and what are the reasons behind such rapid growth of women compared to men entrepreneurs. 

Reasons For Women Becoming Entrepreneurs

Owning small businesses has no long been reserved to the boy’s club only and women are exceedingly progressing in this field. US being one of the developed economies of the world present figures that highlight women owned businesses as being one of the fastest growing sectors of the economy. There are a number of reasons that contribute to this phenomenal growth including the Cox Business research study that state that 61% women entrepreneurs specifically, indulge in their business as an opportunity to be their own boss at work, whereas more than half of women entrepreneurs take up entrepreneurship as a source of controlling their personal destiny to a larger extent (Business News Daily, 2013).

There are several factors that contribute towards women pursuing entrepreneurship career more and more, some of them being self sufficiency, financial successes, personal satisfaction, etc (Business News daily, 2013).

Women today more and more believe in proving themselves equal to men and even though many contestants of the survey revealed that gender biasness still exists in many industries, while some industries lack opportunities for women, more and more women are still joining the entrepreneur club owing to the unique business challenges they are required to face every day.

There are however many issues that still persist in the life of women entrepreneurs that equally impact on the work matters and issues faced by them. These issues include Lack of leadership experience, Work life balance, Limited access to funding, Lack of Knowledge pertaining to small business management and lack of mentors to show the way (Business Daily News, 2013).

A very positive reaction that is encouraging women to enter the entrepreneur scene is the support and acceptance that societies are beginning to offer women entrepreneurs. Women who were earlier thought to be weak and indecisive, rather incapable of making sound decisions, are today being considered as leader with a general mindset who are capable of juggling careers and home life. Not only are women being recognized for their services today rather they are seen as more competent and capable business owners owed to their generally higher trend of education and dedication towards their business. 

The increasing population of women globally calls for the need for them to step in the different walks of life and understand their counterparts working, thought process and procedures to acquire the expertise and knowledge to handle more complex and technical fields as well. It has been observed that more women specific college and university enrollments are taking place compared to men universally, indicating that that the women of tomorrow will be more educated in ratio compared to men.

Demographic features have long played an important role in encouraging women to start their personal businesses. Dissatisfaction from previous careers are a major contributor pushing women towards entrepreneurship however there are also other forms of biasness women face in other walks of life which makes them vulnerable to the idea of owning their personal business (Go 4 Funding, 2014)

Studies conducted recently also indicate international implications as being a factor in the resulting women entrepreneur population. Studies suggest that on a global perceptive, about 1/3 entrepreneurs consist of women. Studies also reveal that in low income countries such as Philippines and Russia, women start off early as entrepreneurs compared to developed or high income countries such as Sweden or Belgium. This is highly attributed to the fact that in lower income countries, women require supporting their families and earn money for them and so early entrepreneurship is taken up compared to their counterparts in developed countries, who try out different careers earlier on and then move to entrepreneurship after being supported by family members and friends (Go 4 Funding, 2014).

Another reason that women entrepreneurs are increasing in numbers is owed to their pooling together in form of confederacies and groups that are now allowing them access to solid networks which promote and spread with members the required expertise and resources needed to fulfill a certain task or objective.
 
Finance acquisition which was a major problem for women entrepreneurs in the earlier days has now decreased to a large extent as the growing potential of women entrepreneurs have made their positions clear and their proven ability offers the chance for investors and financial institutions to invest in their ideas and capabilities. The still persisting gender biasness in several segments of our society has granted women the motivation and spirit to prove themselves, thus offering more caution, dedication and direction towards goal.

All in all women entrepreneurs are a strong driving force in the entrepreneur world today as not only are they more capable of equalizing their family and business duties but already today comprise of almost half of all small businesses worldwide today (Go 4 Funding, 2013). Before dwelling in the success of women as entrepreneurs and the inspirations they derive from men, it is essential to discuss the definition of an entrepreneur, to better understand what the role of women entrepreneur is, in today’s competitive world.

According to Bowen & Hisrich (1986) “The process of creating something different with value by devoting the necessary time and effort; assuming the accompanying financial, psychic, and social risks; and receiving the resulting rewards of monetary and personal satisfaction.” Similarly Mintzberg (1990) defines entrepreneurship as “a voluntary initiator of change, constantly on the lookout for new ideas.”

As far as women entrepreneurs are concerned, their percentage has seen to be increasing from 5% to 30% in USA since the 1970s (New Economic Realities, 1988). A major rise has been experienced in the number of women entrepreneurs from 1975 to 1990 where compared to their male counter parts, women entrepreneurs are increasing at double the rate (Brush & Hisrich, 1991; Moore & Buttner, 1997).

The growing rates of women entrepreneurs in different developed countries include 30% in Denmark, 26% in France and 31% in Sweden in 1997 (Kjeldsen & Neilsen, 2000). Similarly in 2003 21% small businesses that were run by women, increased to 28% by 2004 (Hancock, 2004). 

Women have been contributing with their entrepreneurial skills in many different sectors in the past few decades and since previously no specific researches were done in this particular field, before 1970 to be specific, more investigation began to take place in the later years of the decade, in order to explore the sociological and psychological traits of women entrepreneurs compared to their counterparts, the male entrepreneurs (Brush, 1992). 

It would be vital here to discuss that even though women entrepreneurs’ percentage is increasing worldwide however there are still very wide gaps between active male and female entrepreneurs in the practical field and a lot of difference has been noticed between the two in terms of engaging in different entrepreneurial activities. These differences exist in choices regarding financing strategies, industry choices, governance structures and growth patterns, preparations, motivations and goals, organization, access to resources and strategic orientation (Greene et al, 2003).

To better understand the role of men in the success of women entrepreneurs, here initially we will be shedding light on the factors that are facilitating and hindering women entrepreneurs in the past few decades.

Women have through time adopted a lot from men walking in their footsteps with regards to risk taking, decision making, etc. Even though as wrongly thought of, there are many fronts on which men and women fare equally as evident in a study conducted by Masters and Meiers (1988) in which they state that when comparing male and female entrepreneurs there are no significant differences in the propensity of risk taking. They also advocate that gender has no role to play in being either successful or unsuccessful in business.  Also according to other researches Men and women have no significant difference on the six value dimensions termed as Theoretic, Aesthetic, Economic, Political, Social and Religious (Boulgarides, 1984).

Besides considering the fact on whether men and women entrepreneur possess differentiated traits or qualities another are on which the report will be touching further on is why women felt the need to become entrepreneur, what compelled them and what are the reasons behind such rapid growth of women compared to men entrepreneurs. 

Reasons For Women Becoming Entrepreneurs

Owning small businesses has no long been reserved to the boy’s club only and women are exceedingly progressing in this field. US being one of the developed economies of the world present figures that highlight women owned businesses as being one of the fastest growing sectors of the economy. There are a number of reasons that contribute to this phenomenal growth including the Cox Business research study that state that 61% women entrepreneurs specifically, indulge in their business as an opportunity to be their own boss at work, whereas more than half of women entrepreneurs take up entrepreneurship as a source of controlling their personal destiny to a larger extent (Business News Daily, 2013).

There are several factors that contribute towards women pursuing entrepreneurship career more and more, some of them being self sufficiency, financial successes, personal satisfaction, etc (Business News daily, 2013).

Women today more and more believe in proving themselves equal to men and even though many contestants of the survey revealed that gender biasness still exists in many industries, while some industries lack opportunities for women, more and more women are still joining the entrepreneur club owing to the unique business challenges they are required to face every day.

There are however many issues that still persist in the life of women entrepreneurs that equally impact on the work matters and issues faced by them. These issues include Lack of leadership experience, Work life balance, Limited access to funding, Lack of Knowledge pertaining to small business management and lack of mentors to show the way (Business Daily News, 2013).

A very positive reaction that is encouraging women to enter the entrepreneur scene is the support and acceptance that societies are beginning to offer women entrepreneurs. Women who were earlier thought to be weak and indecisive, rather incapable of making sound decisions, are today being considered as leader with a general mindset who are capable of juggling careers and home life. Not only are women being recognized for their services today rather they are seen as more competent and capable business owners owed to their generally higher trend of education and dedication towards their business. 

The increasing population of women globally calls for the need for them to step in the different walks of life and understand their counterparts working, thought process and procedures to acquire the expertise and knowledge to handle more complex and technical fields as well. It has been observed that more women specific college and university enrollments are taking place compared to men universally, indicating that that the women of tomorrow will be more educated in ratio compared to men.

Demographic features have long played an important role in encouraging women to start their personal businesses. Dissatisfaction from previous careers are a major contributor pushing women towards entrepreneurship however there are also other forms of biasness women face in other walks of life which makes them vulnerable to the idea of owning their personal business (Go 4 Funding, 2014)

Studies conducted recently also indicate international implications as being a factor in the resulting women entrepreneur population. Studies suggest that on a global perceptive, about 1/3 entrepreneurs consist of women. Studies also reveal that in low income countries such as Philippines and Russia, women start off early as entrepreneurs compared to developed or high income countries such as Sweden or Belgium. This is highly attributed to the fact that in lower income countries, women require supporting their families and earn money for them and so early entrepreneurship is taken up compared to their counterparts in developed countries, who try out different careers earlier on and then move to entrepreneurship after being supported by family members and friends (Go 4 Funding, 2014).

Another reason that women entrepreneurs are increasing in numbers is owed to their pooling together in form of confederacies and groups that are now allowing them access to solid networks which promote and spread with members the required expertise and resources needed to fulfill a certain task or objective.  

Finance acquisition which was a major problem for women entrepreneurs in the earlier days has now decreased to a large extent as the growing potential of women entrepreneurs have made their positions clear and their proven ability offers the chance for investors and financial institutions to invest in their ideas and capabilities. The still persisting gender biasness in several segments of our society has granted women the motivation and spirit to prove themselves, thus offering more caution, dedication and direction towards goal. 

All in all women entrepreneurs are a strong driving force in the entrepreneur world today as not only are they more capable of equalizing their family and business duties but already today comprise of almost half of all small businesses worldwide today (Go 4 Funding, 2013).