This article was first published in Business Connections on 20 April 2015. With nearly a million small and medium-sized businesses in the UK led by women, there are more women-led businesses than ever before. However, to compete effectively with male counterparts, female entrepreneurs must master the art of self-promotion.
The Impact of Upbringing on Female Entrepreneurs
It is a sad reality that a woman’s upbringing often affects her self-esteem and confidence more than it does for men, regardless of talent and ability. This has a direct impact on the success of women in business. To overcome gender bias, women need to recognize that prejudices exist both subconsciously and consciously in business environments.
Women must become more confident in self-promotion and in demonstrating their value. Men often do this naturally, so women need to learn the rules of the game before stepping onto the playing field with them.
Building Confidence and Overcoming Barriers
Female entrepreneurs need belief, confidence, and gravitas to sell themselves to potential customers, clients, and investors. A study by Babson College in the US found that only 2.7 percent of venture capital finance raised between 2011 and 2013 went to companies led by women.
The UK government has noted that if women started and ran new businesses at the same rate as men, the economy could gain a million more entrepreneurs. RBS has calculated that boosting female entrepreneurship could add approximately £60 billion to the UK economy.
Currently, only 17 percent of UK companies are headed by women. By eradicating self-doubt and thinking big, more women can achieve their dreams of starting or expanding their businesses. Confidence in one’s abilities can lead to limitless possibilities. What do you have to lose?
About the Author
Julia Meighan is the CEO of VMA GROUP, a leading international interim and permanent recruitment and executive search specialist for communications, digital, and marketing. She is dedicated to helping more women achieve their professional ambitions by identifying and addressing the challenges holding female professionals back. Julia is also a specialist mentor for the Prince’s Trust.
