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Women Entrepreneurs Should Start more Businesses

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The Global Entrepreneurship Monitor (GEM) 2010 Report on Women and Entrepreneurship states that women entrepreneurs are becoming an increasingly important component of the world economy and its struggle against poverty.

The findings of the GEM report also provide significant evidence for two important conclusions:
  • Women entrepreneurs can be found in every country and under all circumstances

  • A significant and systematic gap still exists in the entrepreneurial involvement and business ownership of men compared to women.

Great opportunities exist for governments at all levels to tap into the underutilized potential of women. Across the world, women from a variety of backgrounds are showing increasing interest in expressing their entrepreneurial spirit.

And yet, many women hesitate to transform their business ideas into action.

Women entrepreneurs knowledge
Women entrepreneurs have to deal with the same basic business essentials as men. But it should be no problem. On the contrary.

Compared to men entering business, most women are:

  • Harder working
  • More careful
  • More accurate
  • More serious
  • More enquiring
  • More likely to admit to inability
  • More likely to seek and listen to advice
  • Quieter and less flamboyant
  • Less inclined to push themselves forward
  • Better at dealing with people
  • More likely to worry
  • More likely to underestimate themselves
  • More likely to blame themselves when things go wrong
    (Collected by Michael Morris)

Still, fewer women start a business than men.

Women entrepreneurs are experienced managers
At the same time women entrepreneurs are often better managers than men. They know by experience how to lead a group of people because they have often been the managers of their own family.

If you have three children, a mother in law who does not think you are good enough for her son, few money to buy food for, parents that depends on you, a husband you might love but who is not always that caring combined with evening classes in computing and you still manage you are quite a manager.

Managing a business is less difficult that managing an extended family.
As a woman entrepreneur you have many of the needed skills to run a business.

Women Entrepreneurs must learn business skills

The best way to learn these business skills is to write a business plan. When you write a plan on how to start business it should contain information on the following issues:

Business Concept
A good idea is only a good business idea if you are able to make enough money from it for you to live independently.
Once you have got an idea, in most cases it needs adjusting and further development before it turns into a commercial concept.
- Click for knowledge about Business Concept

Personal Resources and Objectives
Running a newly established company is a very personal thing as its owner is typically the only one present in the company. Therefore, it is important to emphasise to yourself and others alike that you do possess the capacity and resources necessary to run a business. As a woman entrepreneur you are probably better than you thing yourself.
- Click for knowledge about Personal Resources and Objectives

The product or service you offer is the lifeblood of your business. Thus, it is important to analyse its various aspects. Special attention should be paid to what the customers demand from the product or service.
- Click for knowledge about Product/Service

Market Description
Before you are able to carry out any sort of sales or marketing action you need to identify the market you want to penetrate. A good marketing result requires thorough market and customer insight.
- Click for knowledge about Market Description

Sales and Marketing
Sales and marketing are your tools to approach potential customers in order to rise an interest in your product or service. Whether to run local newspaper advertisements, direct mails, work out an internet solution, or attend international trade fairs, is entirely dependent on what you sell and what customer profile you want to approach.
- Click for knowledge about Sales and Marketing

Practical Organising of Start Business
You need to describe the every-day running of your company and also take into account the cost of arranging and running your business.
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Business Development
It is hard to think 3-4 years ahead even before your business is up and running. It would, however, be an advantage if you at this early stage can envision the outlines of an even bigger and more interesting company than the one you start out with.
- Click for knowledge about Business Development

Budgets are the above topics described in economic terms. The more specific the plans, the easier it becomes to work out budgets. Budgets will also contribute to the concretizing of the plans and it is ok to go back and change plans if the budgets prove them unrealistic.
- Click for knowledge about Budgets

Financing merely means: "How do I raise the funds that I need to start my own business?"
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- Find Reports on Women and Entrepreneurship

- Click and share your experience on:
Women Entrepreneurs Should Start more Businesses

M Thomsen, Denmark 17-12-2011
Donna J. Kelley, who is associate professor of entrepreneurship at Babson College and lead author of the new Women Entrepreneurship GEM 2010 report, has some interesting numbers.

The report has evaluated 59 economies and it found that more than 104 million women ages 18 to 64 were actively engaged in starting and running new business ventures.
83 million women were running businesses that were more than three years old. Still men were much more active in entrepreneurship.

The two major reasons for fewer women startup is:

  1. Women’s belief in their own capabilities is far lower than men’s
  2. Fear of failure is more common among women than men.

- Read interview about 2010 survey on Women Entrepreneurship


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