Innovation is key

Interesting new research points to what many of us have suspected for a long time - that there is an implicit bias against women as entrepreneurs, not just here in Africa but globally. There is a misguided perception that women perhaps do not have the inherent skills to succeed as entrepreneurs. Or indeed, that culturally entrepreneurship is predominantly a masculine activity. As a result, this inaccurate perception often deters women from considering becoming entrepreneurs in the first place, or makes it harder for women embarking on their entrepreneurial ventures to secure funding from traditional financial institutions. However, it is not all doom and gloom - the same research indicates that innovation is the key to success for women entrepreneurs. If the business plan demonstrates innovativeness, then it will have a stronger and more positive impact on the ratings of women's entrepreneurial ability and overall support for their business ideas than it does for men’s. So, let’s get more innovative out there!