In June 2018, SmallBizTrends.com shared a study from score.org an organization dedicated to helping small businesses get off the ground. For fifty years, Score’s focus has been helping small entrepreneurs soar. In their quest to ensure small business owners operated by women thrive, they commissioned a study looking at 20,000 small businesses. As Score’s Director of Communications Betsy Dougert put it, “women-owned businesses are just as successful and men-owned businesses despite facing greater financing challenges”.
The propensity for women to succeed in business is precisely why I partnered with Total South Africa in its Total Startupper Campaign to share an opportunity of a lifetime for a young woman 35 years and younger. As mentioned in my previous Blog (http://www.timothymaurice.com/blog-2/) if you are a female entrepreneur and have a project which is making a difference to your community- Total South Africa wants to support you.
As Score’s research points out, we are keenly aware of the following challenges to your business and that’s they have stepped up to assist you…
- 27% of Women Owned Businesses Hired Employees Last Year- Women owned businesses are also growing in terms of team members. 27% of them saw their team increase in the last year, compared to 30% of male entrepreneurs.
- Entrepreneurs with a Mentor Are Five Times More Likely to Actually Launch Businesses of both female and male entrepreneurs, 10% of those who have access to a mentor actually launch businesses, compared to just two % of those without access to a mentor.
- 34% of Female Entrepreneurs Say Their Business Is Struggling
- Women Are More Likely to Launch Education Businesses. Similarly, 9% of female respondents launched education businesses, compared to 5% of male respondents.
- 59% of Women Would Like Funding for Business Growth and just 25% of Women Seek Financing for Their Business- As Dougert explains, “Financing is a challenge for all entrepreneurs, but our data shows that women are much less likely than men to both seek and obtain financing for their small businesses.”
For these reasons and many more, click here https://startupper-of-the-year-challenge.total.com/en/challenges/south-africa?lang=en for the opportunity for Total South Africa to support you as you make your personal and community dreams a reality! (Click link to see all criteria)