Guest Post by: Tumi Frazier, founder of Tumi Frazier International
Many studies suggest that women face greater difficulty than men in scaling up their businesses and are under-represented in the top revenue business categories. Reasons for this range from difficulty in accessing capital, accessing markets, and so on…. Be that as it may, have we considered the possibilities that women entrepreneurs may consciously choose to own small businesses?
Some research indicates that there are some women entrepreneurs who may choose not to scale up their businesses, but rather maintain small enterprises. Psychological research also demonstrates that intentions are the best predictor of any behaviour, including entrepreneurship. Research by Babson College also indicates that motherhood, social and cultural norms affect women, giving them different priorities and values when starting their businesses. Essentially, women have many and varied motivational factors for starting businesses, and money is not always the only factor.
Some women may opt for self-employment in order to have the flexibility to spend more time with their children, which the corporate environment may not afford them.
Some may decide to use their skills, talents, experience or education to earn income to support their families or other commitments. Women may also choose to run businesses because of the satisfaction they derive from pursuing a passion, a hobby or addressing a social need, while enjoying the flexibility of being an entrepreneur.
So, given some of these reasons and more, some women may opt to keep their businesses small to avoid the pressure of running a large organisation or because it simply fits in with their personal and family life. Ultimately, it is all about personal choices. We need not assume that women entrepreneurs are driven by the same things; or that they are not motivated or driven enough if they choose not to build large businesses or multinational entities. Women are unique individuals with a different hierarchy of needs and personal circumstances.
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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