Women Power: Exploring Leadership, Innovation and Challenges

Survey on Women in Business, Technology & Management: Entrepreneurship, Gender, Diversity, and Innovation

Explore the dynamic landscape of women entrepreneurship through the lens of a comprehensive study by IERD-Enterprise Institute. Uncover the challenges faced by women entrepreneurs globally, from balancing work and family responsibilities to securing access to capital. The report features insights from successful entrepreneurs, adding a real-world perspective. Recommendations for policymakers and business leaders aim to foster a more inclusive and empowering ecosystem. Join the conversation on empowering women in business, technology, and management, and be part of the solution to address gender inequality and unlock opportunities for growth.

A new study- survey, titled women in business, study conducted by IERD-Enterprise Institute reveals that micro enterprises dominate the women entrepreneurship landscape. Balancing work and family responsibilities, access to finance, gender bias are some of the significant challenges that women in business face, according to the study.

A significant number of respondents do not currently participate in women entrepreneur networks, as per the study, which calls for specific women agencies and associations that can provide them support in terms of collaboration and community engagement.

The study was conducted from September to November 2023, employing a mixed methods approach, both qualitative and quantitative, to gather data from various sources. A questionnaire was distributed through various platforms, both online and offline, including SME associations, CEO groups, startup forums, online survey sites, Google Surveys, and women entrepreneur forums and groups on social media. Apart from responses gathered through online platforms, interviews with entrepreneurs as well as discussions with executives and professionals to gauge their responses.

The survey carried out among women entrepreneurs, spanning diverse geographical regions globally – Asia, North America, EU, Middle East/North Africa region. The majority, falling within the 25-44 age group, showcasing a dynamic and educated talent pool. In terms of specialization, these entrepreneurs strike a balance between business expertise and technological proficiency, with Management/Marketing and Technology/IT/Engineering emerging as dominant fields, reflecting a keen blend of business acumen and technical skills.

Some highlights

The majority fall within the 25-44 age group and hold post-graduate qualifications, showcasing a dynamic and well-equipped talent pool.
Management/Marketing and Technology/IT/Engineering dominate as fields of specialization, highlighting a balance between business acumen and technical skills.
Making up 43% of surveyed businesses, micro enterprises form the backbone of women-led ventures, showcasing their entrepreneurial spirit and resilience.
Balancing work and family responsibilities (77%) and securing access to capital (57%) emerge as key challenges, necessitating targeted support and policy interventions.
A strong desire for mentorship programs (78%) and gender-specific business associations (67%) underlines the importance of networks and guidance. Additionally, a growing emphasis on technology adoption and investment (27%) underscores its crucial role in business success.
A majority (77%) currently do not participate in any women entrepreneur networks or industry associations indicating the need l for organization that promotes collaboration and entrepreneur community engagement.

The report is published in the book titled WOMEN IN BUSINESS Technology & Management, brought out by TDW Productions and Publishing.

Selvee Shri, founder of VINSURE GLOBAL IMPEX, an export firm, specializing in food grains, food products says, “In my business, innovation is life. Technology drives transformative change, enhancing customer experiences in sourcing, distribution, and quality control. I envision women at the forefront of industry-transforming advancements in digital technologies and urbanization, driving innovation and diversity in business and technology.”

Eulalia Maria Dsouza, a visionary entrepreneur from Mangalore says, “Sacrifice, consistency, discipline, and self-confidence are key attributes that lead to success. I foresee women taking on more significant roles in various fields as the younger generation exhibits innovative ideas and diverse interests, setting high aspirations and striving to achieve them. Their determination and refusal to settle for less are driving them to dream big and work diligently to attain those dreams.”

Dr. P. Koshy, Director IERD-Enterprise Institute says, “This report provides a comprehensive overview of the dynamic and diverse women entrepreneurship landscape, incorporating survey data and insights gleaned from interactions with women in business, technology, and management. It captures the challenges and opportunities faced by women entrepreneurs globally, offering valuable insights for stakeholders aiming to empower and support their success.”

Suggestions & Recommendations

The report concludes with a call to action for stakeholders, including policymakers, business leaders, and support organizations, to take concrete steps to address the challenges faced by women entrepreneurs and foster a more inclusive and empowering ecosystem. Recommendations include:

Implementing targeted initiatives to address specific challenges like access to capital, gender bias, and work-life balance.
Increasing access to mentorship programs and gender-specific business associations to provide support and guidance.
Investing in digital literacy initiatives and strategies to bridge the digital divide and equip women entrepreneurs with the skills needed to thrive in the digital age.
Fostering collaboration and community engagement through women entrepreneur networks to create a sense of belonging, share knowledge, and unlock opportunities for growth.

By taking these steps, the report hopes some of the issues in gender inequality in business & entrepreneurship can be addressed so that women can reach their full potential and contribute meaningfully to economic growth and societal progress.

#WomenEntrepreneurship #GenderDiversity #MicroEnterprises #WorkLifeBalance #AccessToCapital #GenderBias #TechnologyAdoption #MentorshipPrograms #DigitalLiteracy #CommunityEngagement

Author Profile

Perumal Koshy: Perumal Koshy is Editor of Global SME News and Director of Strategic Initiatives at Enterprise Futures Lab. He writes on MSMEs, enterprise development, and policy issues affecting small business ecosystems.
Linkedin: https://www.linkedin.com/in/caushie/