We celebrate woman’s month and all the gushing with a mom or a partner, but what about supporting women-run businesses?

We see many male-dominated entrepreneurs, as women tend to have more barriers to entry than their male counterparts.

What holds back female entrepreneurs

The usual barriers to entry have not changed, like lack of access to funding and lack of family support when they are potentially also the sole breadwinner. Women tend not to take risks when it comes to starting a business. When there is not 100% commitment, the company will fail sooner.

The patriarchal nature of South Africa in business is no different from the rest of the world. Women are new to the workforce, and the challenge of breaking into the men’s clubs is still a big hurdle. There was a time when businesses did deals on the golf course or in a strip club. Society did not include women in those events, not like they wanted to be doing business with a stripper on their lap either.

Advantages to supporting women-run businesses

When you, as a business or individual, support a woman-run business, you add to their investment in training more women. Financial security is a large part of their mindset. If we can ensure food and economic security for more women, then we can remove some of the barriers they face concerning gender-based violence. For many women, the lack of money is a big part of their not leaving an abusive relationship. If they can get and keep a job, they can make a different decision.

Women support women. They are collaborative and enjoy the company. There is a tendency for women to keep growing the circle. So women-led and run businesses tend to increase in size, more so than male-run businesses.

The community can thrive by empowering more women, creating independence, and cultivating stronger individuals.

Economic and social transformation can be possible with more women contributing to the workforce and economy. With more jobs filled, more taxes get paid. When there is more money in the economy, it is better for everyone. All businesses can then thrive. Introducing more women to the workplace also enables kids to get to school and get better educations.

In South Africa, many children still do not get a decent primary education. If we can get more households to have the funds to send their kids to good secondary and tertiary educational institutions, they can secure a better future for their families.

Did you know that Bizcash offers companies finance solutions that can help you grow your team, train staff, and enter into new markets?

Please speak to our team to find out more about how we can help you. Get in touch with us on 0861 93 93 93 or email us on info@bizcashscf.co.za or contact us here.

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