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March forward to a brighter world for female entrepreneurs
Female founders understand better than anyone that the path to entrepreneurship can throw up extra challenges for women. But did you know that only 22 per cent of start-ups are founded by women?
Unfortunately, despite the many strides women are making in the workplace, they continue to face systemic issues when starting a business.
Key barriers include gender bias among venture capitalists and financial services, lower confidence in pitching business ideas and seeking financial backing, and a heightened fear of failure.
So what better time than International Women’s Day to focus on how we can even the playing field?
A call to action
At Enterprising ME, we have launched a bold call to action across society to change the script in the next decade and help unleash women’s untapped potential.
The Decadal Plan for Future Female Entrepreneurship and Business Leadership demands systemic change to improve access and opportunities for women entrepreneurs, from government to educators, business, investors and financial services.
Imagine if Entrepreneurs in Residence were based at universities to provide advice and support to female students. Or if women fleeing domestic violence could access help to set up microbusinesses at shelters?And here’s a real game changer… what if large businesses reviewed their current procurement processes with the objective of directing 50 per cent of their spend to women-owned or majority women-led businesses?
These are just some of the recommendations in the plan, developed by an expert panel of 12 women business and policy leaders convened by the Council of Small Business Organisation Australia’s (COSBOA) Future Female Entrepreneurs Program (FFEP).
“The message we hear is that women already know there are barriers to starting or building a business. It’s not about ‘fixing women’, rather it is about helping institutions and organisations realise their untapped economic and social contribution so that, together, we can improve the operating environment for women entrepreneurs,” FFEP Director Fleur Anderson said.
Other recommendations include:
- Learning from international examples such as audiobook giant Audible’s “Live Local” program with local government to spark women-led business precincts and urban renewal
- Better recognition and support of micro-businesses, including those started by women as a means of escaping domestic violence
- Empowering trainee teachers to spot and nurture entrepreneurial talent, especially in girls.
Fittingly, the theme for IWD 2025 is March Forward: For ALL Women and Girls. So help us march forward and lift the number of female-funded start-ups to 50 per cent in the next decade. Take the first step by downloading a copy of the Decadal Plan here, and discover our other recommendations to supercharge the operating environment for women.
