A 2021/2022 report from the Global Entrepreneurship Monitor showed that women displayed
20% less confidence when it came to their ability to start a business vs their male
counterparts. What caused this? Perhaps it was the Covid climate that was intimidating for
entrepreneurs regardless of their gender, or the fact that women have been marginalized in
the professional world for centuries. Whatever the cause, the lack of confidence is not a
reflection of the power women have in business, their capabilities, insights and skillsets that
not only build businesses, but build economies.
Women offer valuable perspectives to business, according to the Harvard Business Review,
they outscore men in most leadership skills. When it comes to problem solving, innovation
and teamwork; women rank tops. These skills are integral to building sustainable
businesses. As the South African economy, we need women. We need their skills and their
impact. Research by Developing Economics indicates that ‘’ women-owned businesses
established between 2018 and next year may generate about R175 billion a year and
create close to 1 million jobs’’. Could we do with a million more jobs in our economy?
Definitely, do we need more women owning businesses? Most definitely.
So, we know that we need women, but how can we encourage and empower women to be
in business? The government is attempting to do their part but we as fellow business people,
more especially business coaches, have our part to play as well. Society needs a mental
shift, both men and women need to recognize and encourage female entrepreneurship. We
also need to highlight entrepreneurship as a viable career option for women and young girls
and highlight the benefits of being female business owners. Benefits such as independence,
financial freedom, time freedom and so forth. In the changing world where the economy has
forced both partners in a relationship to work, entrepreneurship has become more of a viable
option for women. Furthermore, in the context of South Africa where 42.1% (StatsSA 2021)
of households are women-led, a large portion of women have had to become the
breadwinner and provider for their families. Women need business just as much as business
needs women.
But our economy doesn’t need people running to register businesses and profess
themselves to be CEO’s without having built something worth that title. We need
sustainability, profitability, employability. We need businesses that run and that do so
effectively. We need success. And ActionCOACH can coach any business owner to achieve
that success. As is the nature of ActionCOACH, when there is a problem, there is a well-
researched solution that works and when it comes to achieving success, that solution is a
formula: Dreams x Goals x Learning x Plans x Action = Success (DxGxLxPxA).
It is Time to Take Over. For every female entrepreneur who has had the courage to start their
own business, it is time to build that confidence and ensure that your business soars to
heights that can only be limited by your dreams. Our economy depends on you.
