What are the main reasons women start new businesses?

Women start businesses for many reasons. For some women, entrepreneurship is a necessity, and for others, it is an adventure. Though, it is only fair to mention that entrepreneurship among women has been relatively common through history. In recent times, every sector ranging from health to educational industries and even the industrial and creative space is witnessing a crescendo of women entrepreneurs.

Recently, we have seen women entrepreneurs start businesses and side hustles as web designers, consultants, engineers, copywriters, real estate brokers, health and beauty professionals and more. Women are starting businesses for many reasons which may range from individual, local and even matrimonial factors. Matrimonial factors like divorce may push a woman to start a business to provide for herself and her children.

Women ventured into business for various reasons, and this article will touch some of the most critical reasons many women are in business. Many women start freelance businesses in an attempt to take care of their homes and babies while earning an income. However, women start businesses for many different reasons such as dissatisfaction with a job, building wealth on their own terms, desire or necessity for flexible work-hours, desire to control their own destiny, a better home-work balance and more.

With that in mind, what are those things that push most women to start their businesses?

Why do women start businesses?

1. The Spirit of Entrepreneurship

Entrepreneurship is tough. Women have the spirit of enterprise in them. If you take a look at the women around you, they have homes, husbands, children, jobs and many more responsibilities. They are busy. They are strong. They are not afraid to work hard. This makes entrepreneurship seem quite natural to many of them. Unlike some men, women focus less on the financial gains. They are more focused on the work and the joy of using their skills to make the world a better place where things can become readily available to others.

2. Flexibility and Freedom

Most women are multi-tasking, handling one responsibility or the other simultaneously — caring for children, for parents and their husbands. The constraints of fulfilling these duties may drive a woman to seek flexibility and freedom. Hence, having her own business means she can be a mother while earning a substantial income, most importantly, on her own terms.

3. Survival

As we live in a world of “survival of the fittest,” those who adapt will live abundantly, while those who can’t will find things somewhat tricky. The rate of increase in failed marriages and divorce means women need to stand on their own, putting less dependence on men. The competition involved in gaining employment is another issue of survival. The search for inner-satisfaction also drives women into business. These issues have pushed women into entrepreneurship.

4. Innovation and Execution

Some women tilt towards executing their innovative ideas, thus developing plans to implement such ideas and create a new market or a unique product or service. In this manner, if working in a company as plan A didn’t work out, moving into the realm of their dreams plan B might work out. Today, women are telling the world that they can be as effective as men when it comes to executing ideas and innovating.

Conclusion

As the question keeps coming, “Why are more women in business today?” this can be attributed to many reasons, some of them outlined above. Although there are countless reasons for an increase in entrepreneurship among women, the above-stated reasons are some of the most common.