In ancient Egypt, Persia or Rome, women were not just housewives and mothers. In Egypt they were doctors, dancers and musicians, in Persia they supervised workers, while in Rome they were business owners, contributing significantly to the economy.
As history shows us, the role of women in entrepreneurship has never been limited by social or family obligations. On the contrary, women have always taken an active role in society and entrepreneurship.
Today, female entrepreneurship is at the core of innovation and growth. Women entrepreneurs continue to highlight their role in all sectors, contributing to economic prosperity and social equality.
And in our opinion, women entrepreneurs are the ones who can really change the world. According to ICAP research, companies led by women perform better in terms of profitability, return on equity and liquidity, suggesting that female entrepreneurship can be an important factor in economic growth.
Although women appear to be achieving better results than men in entrepreneurship, their participation in leadership positions is only 25.1%. This percentage remains low because one of the challenges faced by female entrepreneurs is access to financing, to capital.
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The Challenge of Financing – 7 Solutions for Financing
Financing is an important part of the success of any business, but it can be especially difficult for female entrepreneurs. Fortunately, there are many sources of financing available for women who want to start or grow their business.
Personal Investment Funds
The most common source of financing for women entrepreneurs is their own money. This can include savings, loans from family and friends, or even the sale of personal assets.
Family and Friends
Family and friends are often willing to help women entrepreneurs start their businesses. This source of financing can be more flexible than bank financing.
Bank Loans
Banks offer various types of loans and credits that can be used to finance a business. Business loans are usually the most expensive form of financing, but they can be a good option for businesses that have a solid sales history.
European Funds – NSRF
European programs and funds can provide funding for various types of business projects and initiatives.
Social Funds and Organizations
Some social organizations and funds provide funding and support to women entrepreneurs with socially or environmentally oriented projects.
Crowdfunding
Crowdfunding is a popular option where people from all over the world contribute money to a project or business through an online platform. This is a good option for women entrepreneurs who want to create buzz for their business and reach a wider audience.
How to choose the right funding source
Choosing the right funding source depends on a number of factors, including your business needs, the stage of your business’s growth, and your personal preferences. Here are some things to consider:
- What is the amount of financing you need?
- What is the growth phase of your business?
- How quickly do you want to get the money?
- What kind of control do you want to give investors?
It is important to do your research and talk to various funding sources before making a decision.
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Advice for female entrepreneurs
Financing can be a challenge for women entrepreneurs, but there are a few things you can do to increase your chances of getting funds to start or expand your business.
- Create a strong business strategy by following the business coaching methodology.
- Prepare your own business plan. Your business plan should provide a clear and concise picture of your business, your goals, and your financing needs.
- Build a network. Meet other entrepreneurs and investors and learn more about the funding sources available.
- Don’t be afraid to ask for help. There are many resources available for women entrepreneurs who need help with financing.
