It can be difficult to be an entrepreneur, especially when you are just starting out. Getting funding is one way that you can work toward your goals, but as a female entrepreneur, do you have more obstacles to face to get that funding? Here are some reasons that female entrepreneurs may struggle to get the funding they need for their projects.
Perceptions of What a Successful Entrepreneur Is
Until recently, nearly all entrepreneurs were men. That means that all images of success were built on the workmen did. When female entrepreneurs seek funding, they re often compared to these male entrepreneurs who have a long history of success and a longer-term of experience. As a result, some entities may believe that female entrepreneurs are unable to keep up since they don’t have the same long history of entrepreneurial success.
It’s About Who You Know
Networking is an important part of entrepreneurial success. Making connections with people who are successful and have access to resources can be an effective way to achieve your own goals. However, since the field is still largely male, it can sometimes be hard for female entrepreneurs to get access to the connections they need to get funding resources. To help combat this, find female entrepreneurs you can connect with and build your own support and networking system.
Bias Still Exists
Even though there are more and more female entrepreneurs making positive changes in the field, the past still influences some people’s perceptions. That means there is still bias in entrepreneurship, whether it is intentional or not. That means that even if you meet the criteria for a funding opportunity, you may lose to a male entrepreneur, even when everything else is the same. If this happens, keep trying for other opportunities. There are funding opportunities specifically designed for female entrepreneurs.
If you are a female entrepreneur seeking funding, do not let challenges keep you from success. Look for opportunities designed specifically for female entrepreneurs and build your networking and support system with successful women in your field. Before you know it, you’ll be well on your way to success.