Each year, on 19 November, the world comes together to recognise and celebrate the remarkable contributions of women entrepreneurs through Women’s Entrepreneurship Day (WED). This global initiative honours the women breaking barriers in business, driving innovation, and empowering communities around the world. More than just a day of recognition, WED is a call to action—a reminder of the potential that lies in supporting and uplifting women in business.
At SheThrives, we know the road to entrepreneurship is often paved with challenges. But it’s also a path of immense reward, creativity, and impact. Today, we delve into the significance of Women’s Entrepreneurship Day, highlight the stories of inspiring women leaders, and explore how each of us can play a part in empowering the next generation of female founders.
Why Women’s Entrepreneurship Matters
Women entrepreneurs are a driving force behind global economic growth. According to the Global Entrepreneurship Monitor, women now account for 35% of global entrepreneurial activity, with numbers steadily rising each year. Yet, despite their growing presence, women entrepreneurs face significant challenges, from limited access to funding and resources to systemic bias and cultural barriers.
Women’s Entrepreneurship Day aims to address these challenges by raising awareness, advocating for equity, and fostering a global network of support for women in business. Its mission is simple yet powerful: to celebrate, empower, and advocate for women entrepreneurs worldwide.
The Ripple Effect of Women Entrepreneurs
Women entrepreneurs are not just business leaders—they are changemakers. Their influence extends far beyond their companies, impacting families, communities, and entire industries. Here are just a few ways women entrepreneurs are shaping a brighter future:
1. Creating Jobs and Boosting Economies
Women-led businesses are significant employers, contributing to economic growth and stability. Studies show that women reinvest up to 90% of their income back into their families and communities, creating a ripple effect of positive change.
2. Driving Innovation
From groundbreaking tech startups to sustainable fashion brands, women entrepreneurs are leading the charge in innovation. Their fresh perspectives and unique approaches are solving complex problems and opening doors to new opportunities.
3. Advocating for Inclusion
Women entrepreneurs are champions of diversity and inclusion, often prioritising equitable hiring practices and fostering inclusive workplace cultures. Their leadership sets a powerful example for future generations.
Overcoming Challenges on the Path to Entrepreneurship
While the stories above highlight the triumphs of women entrepreneurs, the journey isn’t without its hurdles. From securing funding to navigating societal expectations, women often face unique challenges. Here’s how we can address them:
1. Bridging the Funding Gap
Only 2% of venture capital funding goes to women-led businesses globally. Supporting initiatives that invest in women entrepreneurs, such as female-focused venture funds or crowdfunding platforms, can help close this gap.
2. Mentorship and Networking
Mentorship is invaluable for aspiring entrepreneurs. Programmes like the Women’s Entrepreneurship Accelerator connect women with experienced mentors and resources to guide them on their journey.
3. Breaking Cultural Barriers
In many parts of the world, cultural norms and biases hinder women’s entrepreneurial potential. Advocacy, education, and policy changes are crucial in creating an equitable playing field.
4. Embracing Failure as Growth
Fear of failure is a common barrier, especially for women conditioned to seek perfection. Normalising failure as a stepping stone to success can empower more women to take bold entrepreneurial risks.
How You Can Support Women Entrepreneurs
Whether you’re an entrepreneur yourself or simply passionate about empowering women, there are countless ways to support women in business:
1. Buy Women-Owned
Support women-led businesses by choosing their products and services. Your purchase directly contributes to their growth and success.
2. Spread the Word
Promote women entrepreneurs in your network by sharing their stories, products, or services on social media. Word of mouth is a powerful tool for business growth.
3. Mentor and Advise
If you have expertise in a particular field, consider mentoring an aspiring entrepreneur. Sharing your knowledge can make a significant impact.
4. Advocate for Policy Change
Support policies that promote gender equity in entrepreneurship, such as equal access to funding and maternity leave for women business owners.
Celebrating Women’s Entrepreneurship Day
Women’s Entrepreneurship Day is more than a celebration—it’s a movement. It’s a call to action for individuals, organisations, and governments to invest in women entrepreneurs and recognise their invaluable contributions to society. Here are some ways to get involved:
- Join a WED Event: Attend virtual or in-person events organised by Women’s Entrepreneurship Day Organisation.
- Share Your Story: Use social media to share your entrepreneurial journey or celebrate a woman entrepreneur who inspires you.
- Donate: Support initiatives that fund and mentor women entrepreneurs, such as the SheEO Fund or the UN Women’s Empowerment Programme.
Final Thoughts
At SheThrives, we believe in the transformative power of women entrepreneurs. Their courage, creativity, and vision inspire us all to dream bigger and do better. On this Women’s Entrepreneurship Day, let’s celebrate their achievements, support their journeys, and continue building a world where women in business can thrive.
Together, we can ensure that entrepreneurship remains a powerful tool for empowering women and creating a more equitable future. Will you join us in celebrating and supporting these extraordinary women?