Anyone with knowledge of how the economy of a nation runs would agree that it is heavily reliant on businesses. Simply put, businesses are the live wire of a nation’s economy.
However, as with anything that can be profitable, running a business, especially a successful one, is not easy. It is one competitive area of society where failure or incurring losses can be fatal.
Throughout most part of history, women have mostly not played a major part in the running of businesses. In fact, until modern times, they weren’t able to participate in many area of society in general, particularly running businesses.
These days, however, many are in business as owners, managers or workers. However, this doesn’t mean that everything is now well with them. On the contrary, it has come with its own challenges, one of which is funding. This is crucial, as it has the ability to make or mar a business.
Available funding means
Luckily, however, there are ways to navigate through this problem of funding, and many women-run businesses have been benefiting from it. Still, a lot of women do not know about it and might still have financial challenges. Therefore, it is important that this knowledge be passed around for them too.
Crowdfunding
One way through which women can raise funds to keep their businesses afloat is crowdfunding. This practice is popular these days, as reason for the funds being raised can be pushed out on social media.
Crowdfunding, as a financial strategy, relies on the financial contributions from various sources and can be a particularly effective fundraising strategy, as there really is no limit to what can be raised and the number of people that can contribute.
Venture capitalists and angel investors
Another way to raise money for business is through sponsorship from venture capitalists and angel investors. These are people who are willing to invest in a business idea (albeit a sound one) and sponsor it to fruition. These days, venture capitalists and angel investors are the norms. It is through their contributions that some of the big companies that you hear of started.
Grants for women
One of the things that today’s society seeks to accomplish is the empowerment of women, and one very powerful way to do this is by helping her to start a business of her own. For this reason, there are various programmes, both governmental and non-governmental, that give grants to women exclusively to enable them start a business or to keep one afloat.
Local resources
Today, there are many institutions at local and state levels that encourage women that own small businesses. These organisations may be local community groups, aid groups or cooperative societies that give special discounts to women in business, all in a bid to help their businesses grow. You may not be aware of such organisations or associations that exist in your locality, but they do exist. Ask questions and conduct your studies. They might prove very beneficial to you.
Conclusion
Since women became active in the running of businesses in recent history, there have been a lot of them who have achieved great success in the world of business, further shining the light on the capability of women in this field. The challenge, though, seems to be beyond getting more women to participate in business; rather, encouraging and supporting the one’s already in it.
At Creative Space, we run empowerment programmes for women that help to create visibility for women-led businesses, providing them with several funding opportunities.
These programmes are sponsored by different organisations as a way of giving back to society.
You or your organisation can be part of this. We are open to sponsorship, donation and different levels of partnership.
