In recent years, there has been a remarkable shift in the world of entrepreneurship, as an increasing number of women are choosing to build their own businesses instead of pursuing traditional corporate careers. This phenomenon has ignited a powerful wave of female empowerment, challenging conventional gender roles and shattering the glass ceiling that has long limited women’s advancement in the business world. In this article, we will explore the reasons behind the rise of the female entrepreneur and the transformative impact it has on women’s lives and the global economy.
“I chose the corporate path first,” shares Kendra Davies, CEO of Stellar Life Coaching, Life Coach and Positive Psychology Practitioner. “In truth, I felt like, and I really was a unicorn. I stuck out in every room, never quite fitting in. In order to grow I had to sacrifice something I wasn’t willing to let go of: freedom and autonomy or time. When I was laid off for the fifth time, I surrendered to the idea that maybe I wasn’t the problem. Maybe it was the environment I was trying to grow in.”
Empowerment and Autonomy
One of the primary reasons for the surge in female entrepreneurship is the desire for empowerment and autonomy. Many women are seeking to take control of their professional lives and escape the constraints of traditional corporate structures. Entrepreneurship offers them the freedom to set their own schedules, make crucial decisions, and shape their businesses according to their vision. This newfound sense of control is not only empowering but also liberating, enabling women to break free from the limitations imposed by hierarchical organizations.
“Although we have made progress in the arena of women in corporate careers, the reality is that it still favors the male gender,” states Tristen Durkin, founder of True Medical Aesthetics. “This doesn’t give women the opportunity to excel in their skillset and rise to their fullest capacity. Women can start their own businesses and allow themselves the freedom to unleash their skills and talents.”
Pursuit of Passion and Purpose
Female entrepreneurs are often driven by a strong sense of purpose and a desire to make a meaningful impact on society. They are more likely to start businesses that align with their values, interests, and passions. Whether it’s launching a sustainable fashion brand, a tech startup addressing social issues, or a wellness-oriented enterprise, women are channeling their passion into purposeful ventures. This commitment to meaningful work not only fuels their entrepreneurial spirit but also inspires others to follow suit.
Jet Van Wijk, known by many as Jet, the CEO and Founder of Laptop Lifestyle Master Program reflects, “During my time at Hilton Hotels, I often found myself reflecting on the life I truly wanted. While the corporate world offered stability and structure, it also came with limitations that didn’t align with my broader vision for life. My experiences studying in Bali and Bangkok were transformative. They introduced me to a world where I could blend work with my love for travel. This wasn’t just about escaping the 9-5 grind; it was about crafting a life filled with passion, purpose, and endless possibilities.”
Flexibility and Work-Life Balance
Another compelling reason for women to choose entrepreneurship is the pursuit of a better work-life balance. Many women juggle multiple roles, including caregiving responsibilities and family commitments. Entrepreneurship offers the flexibility to design a work environment that accommodates these demands. This flexibility is a game-changer, allowing women to balance their personal and professional lives more effectively while pursuing their entrepreneurial dreams.
“I believe more women are choosing to risk comfort to fulfill an all-round method of support for their families and their own self-care,” says Lisa Stafford, CEO and Founder of Lisa’s Sweet Spot INC. “More women are opting in for a work schedule that allows us to fulfill not only financial freedom but also fulfills our need to nurture and be there for our partners when they come home from working in a corporate job all day.
The rise of female entrepreneurship is also buoyed by an increasingly supportive ecosystem. Organizations, incubators, and accelerators focused on female founders have emerged, offering mentorship, funding opportunities, and networking events tailored to women’s needs. These support systems provide women with the resources and knowledge required to navigate the entrepreneurial landscape successfully.
Changing Societal Norms
“Why are women building their own businesses? Because they can!” says Patti Negri, psychic medium, “Good Witch,” podcaster, author, and TV host. “I don’t think there was much of an option in days gone by. It was often more of an uphill battle than it needed to be but now that we are moving away from that old paradigm, women are taking their power back. As they rise to the top, so does the acceptance of them, making a positive impact on the next woman to take the leap.”
Societal norms continue to evolve, women are no longer confined to traditional gender roles. Cultural shifts have led to increased acceptance of women in leadership positions, and entrepreneurship is no exception. Female entrepreneurs are challenging stereotypes and proving that gender is not a determining factor in business success. This shift in societal norms encourages more women to pursue entrepreneurial endeavors with confidence.
The rise of the female entrepreneur is not only reshaping the business landscape but also contributing significantly to economic growth.
“Self-employed female entrepreneurs can make major contributions to society,” says Beate Nimsky, CEO and founder of Nimsky GmbH. and founder of Nimsky Academy. “The influence of women is growing inexorably at all levels of society and female entrepreneurs are important role models. Through their entrepreneurship, they create and secure jobs. They pay taxes and female founders of medium-sized companies make a sustainable contribution to the economy as a whole.”
According to a report by McKinsey, advancing gender equality in the workplace could add $12 trillion to global GDP by 2025. Female entrepreneurs are a driving force behind this economic empowerment, creating jobs, fostering innovation, and stimulating local and global economies.
The rise of the female entrepreneur represents a transformative shift in the business world. Women are no longer content with fitting into traditional corporate molds; they are breaking barriers, seizing opportunities, and carving their own paths to success. As the number of female entrepreneurs continues to grow, their collective impact on the global economy and society at large will be profound, reshaping industries and inspiring future generations of women to pursue their entrepreneurial dreams. The future is indeed female, and it’s a future filled with innovation, empowerment, and limitless possibilities.