Two-thirds of entrepreneurs are male, meaning one-third are female. Why isn’t there an equal distribution here, mirroring the general population, where each group accounts for about 50%? Why are there still so few female entrepreneurs and successors? In recent years, our society, as well as companies and organizations, have embraced, initiated, and promoted diversity, inclusion, and equal opportunity. Diversity encompasses many aspects, such as age, background, and gender. However, women remain underrepresented in many industries, sectors, and especially in entrepreneurship.
Why is this the case, and what can we all actively do to close this gap? How can women and men contribute to ensuring that we can all live and work in a truly diverse society? Below are three thought-provoking hypotheses about the possible causes of “inequality” and motivational recommendations. These can encourage women to take the leap into executive leadership and/or pursue succession roles.
• Hypothesis #1: Traditional role models, prejudices, and stereotypes: Women are still more likely to be seen in gentle or social roles rather than in entrepreneurial roles that require “grit.” Ask yourself: How do you see yourself and others?
• Hypothesis #2: Limited access to capital and resources: Women often face greater difficulties in accessing the financial resources and other assets necessary to start or take over a business. Possible causes include biases in the financial sector or an underutilized business network.
• Hypothesis #3: Lack of (self-)confidence: A shortage of skilled workers, a lack of business successors, uncertain times, rapid changes, and crises concern us all. This makes it all the more understandable that we desire a certain degree of security. However, this—supposed—security can be found both in a permanent position and in one’s own business. If we trust in our abilities and are confident that, “Yes, together we can do this!”
So what can encourage women to define their own role as entrepreneurs, access (financial) resources, and become more (self-)confident?
Question your own understanding of your role, as well as the way you perceive the roles of others. There may be hidden biases here. Listen to your own needs and define your own path as an entrepreneur. Seek out support—from both women and men.
Look for role models and mentors. Network on LinkedIn, attend business networking events, and make yourself visible. Strike up conversations with others and tell them what you’re looking for. But also ask your contacts what they’re looking for. Connect people with one another and recommend yourself and others. You’ll see: this creates incredible momentum, ideas, and synergies! You’ll learn and experience a great deal. Share your insights. Stay curious!
In doing so, you’re making not only a human contribution but also an economic one. After all, the increased participation of women in entrepreneurship and leadership roles contributes to both gender equality and economic growth, innovation, and new markets—for both men and women.
