Now is heyday of the female entrepreneur

Now is heyday of the female entrepreneur

We are living in uncertain times where seismic  changes are leaving people feeling unsure, and there are worries of a talent-drain on our economy.

In the immediate aftermath of the Brexit vote, we feared that the naysayers were right – yes the stock market tumbled and yes the Pound got a little weaker.

And yet in the past few weeks, new figures have shown us that the UK overall is doing ok – our economy is still growing, exporting is at a five-year high, people continue to invest in startups and the outlook is still rather positive.

And while there is no doubt that change will happen, the immediate drain that was predicted looks unlikely and there is as much opportunity for young men and women to find their voice, place and/or vocation as ever before.

Sure we may feel a few more Brexit aftershocks in the months and years to come. However, these are for the politicians and economists to worry about.

When it comes to the real world, there are the opportunities out there where you can make an impact, do some good and build economies.

Furthermore, new research has shown us that we women are in a prime position to lead the way.

There is an economic theory called the Glass Cliff. It suggested that in times of crisis or instability, women disproportionately rise to the top and become leaders/CEOs.

This is made evident by recent research that shows that, while the country has faced cut backs and recession in recent years, the number of women founding businesses has grown 42 per cent since 2010. In fact, a third of all new businesses founded today are created by women.  

This explosion in female entrepreneurship and women-led businesses can be put down to a woman’s nature in a crisis. 

As women, we have a much more measured approach to risk taking, thus acting as a safe anchor for any business in stormy waters.

As a result, female entrepreneurs tend to thrive in uncertainty and engage in more thought-through strategies and approaches, which ultimately results in the creation of amazing businesses that have solid teams and good products.

Women entrepreneurs’ patience of playing a long-term game therefore creates stronger businesses that have the longevity and stability to see them through times of uncertainty.

I could not leave you without a slight word of warning despite my positive message. Entrepreneurship is not for the faint hearted.

It brings with it a risk of failure, chaos and a hint of uncertainty and you have to be 100% confident you’ve got what it takes. But once you get going, the rewards go beyond simple satisfaction and level playing fields.

For women, entrepreneurship and business leadership lends itself to a better work-life balance, lets you create a positive business culture for you and those you employ and eliminates salary ceilings.  

Now is probably one of the best times to be a woman and to be in business. You just have to look around you to see that women are breaking glass ceilings everywhere.

By the end of the year we could very well see women lead three of the world’s biggest economies.

It is hard not to feel empowered by barriers being broken down and to not be motivated to turn great ideas into great businesses.

So what’s stopping you from changing the world?

 

About the author

Neeta Patel is the CEO of the New Entrepreneurs Foundation.

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