This month at GoForth Institute, we’re highlighting women in small business. With good reason, too – women own or manage 40% of Canada’s businesses and are starting small businesses at a record rate. However, with every type of entrepreneurship comes a unique set of challenges, and female entrepreneurs are no different.
What are the major challenges faced by women entrepreneurs?
A woman who starts a small business faces many of the same challenges encountered by any entrepreneur:
- Access to quality small business training
- The need for support services
- Access to capital
- Long-term business coaching
- Staying current in their small business industry
- Managing growth
- Finding mentors
However, women who start small businesses also face a host of challenges unique to female entrepreneurs. Women are typically the primary caregivers of children and still tend to earn less than men, meaning that women starting a small business have even more to think about.
Giving women entrepreneurs the tools for small business success
At GoForth Institute, we’re entrepreneurs too. This means we’re committed to giving all entrepreneurs the tools they need to make sure the small business they’ve started has the best chances for success. We offer leading small business online learning programs, which are great for many women-owned small businesses – like home-based businesses. Women who have become self-employed or who have busy work/life schedules need only spare 10 hours in total to get comprehensive small business training from entrepreneurs who’ve been through the same things themselves!
The Canadian government is also making strides in supporting women in business, with initiatives such as business loans for female entrepreneurs and women-only networking events. Of course, businesses themselves love to support female entrepreneurs – check out the RBC Canadian Women Entrepreneur Awards as an example.
If you’re a woman in business, what unique challenges have you faced? Let us know!