Having just entered a technical recession (as announced by Stats SA – 4 Sept 2018), South African entrepreneurs are facing monumental challenges especially in terms of the consistent and ever-increasing unemployment rate.
The Lions Den has launched the Women Entrepreneur Movement, our purpose being to inspire women entrepreneurs to challenge the status quo, compete on an equal footing and lead the way in alleviating unemployment in South Africa.
The issues facing Women Entrepreneurs including information from the Mastercard Index of Women Entrepreneurs (MIWE):
- The lack of entrepreneurial intent, women account for only 18.8% of business owners in SA
- Perceived business opportunities
- Shortage of support and resources such as training and networking
- Entrepreneurial competencies play a huge role in the failure of female entrepreneurs in South Africa (Source: SAJESBM).
- Patriarchy remains deeply entrenched within the fabric of our society to such an extent that most women consider it to be a normal way of life (Source: Zweli Mkhize)
- Limited access to funding. While studies show that women manage their credit better than men, the former still find it harder to obtain funding than the latter
- Self-limiting factors. Many women have yet to comprehend their own greatness and according to the Global Entrepreneurship Monitor Women’s Report, women are generally more afraid of failure than their male counterparts; this inhibits their chances of starting or running their own businesses
- Managing the home in most cases leaves women having to juggle their priorities.