Guest Post by: Tumi Frazier, founder of Tumi Frazier International
Women and men tend to face different challenges as entrepreneurs. For the most part women are more affected by conflicting demands of business and family than men are. Motherhood, social, political and cultural expectations and norms affect women in particular, giving them different priorities and values when they start their own businesses, according to the Journal of Gender and Entrepreneurship.
A recent Kaufman Foundation study shows that women typically start their businesses using their own money or small amounts of capital, and therefore under-perform in terms of assets, revenue, profitability and business survival. In essence there is evidence that women tend to seek loans too small to meet their business needs and are less likely to use external investors than men do.
So, given different approaches to business, expectations, reasons for starting businesses, nature of businesses, motivations, opportunities available to men and women, should the entrepreneurship training offered to women tackle gender specific challenges?
Does the current training consider specific factors such as the kind of a woman behind the business, her specific needs and the stage of the business; over and above the generic topics we all are accustomed to?
The one programme that comes to mind is the Ernst & Young’s Entrepreneurial Winning Women program. This programme identifies and supports women entrepreneurs seeking to become market leaders. They select high-potential candidates and provide them with role models, personalised business advice, and access to prospective investors, suppliers and customers — all with the goal of helping to grow their businesses.
So, we need many more of these personalised programmes in order to yield better and long-term outcomes.
Tumi Frazier is a South African entrepreneur, professional speaker, author, TV personality, consultant, and founder of Tumi Frazier International, Tumi Leadership Academy, and Tumi Foundation. Tumi is an internationally acclaimed Leadership and Change Management expert who has worked with high profile clients and organizations across Africa, United States and Europe. Tumi has authored 4 books: Courageous Stories of Inspiration; In the Midst of the Storm; Stepping Stones to Success; and Your Moment. Follow Tumi Twitter | LinkedIn
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