Most Women With Small Income Are Likely to Become Entrepreneurs | Women Business
About 40% women become entrepreneurs and start their own business out of desperation due to poor job opportunities, small income, frustration at the workplace and constant pressure to manage home, kids and work.
Why Started Entrepreneurship?
My fashion boutique business had closed.
The shop I had rented for my work had been sold out, and I was winding up everything. I didn't get much time to introspect. Everything was so sudden.
It takes so much time and money to set up a business from scratch.
My business had started earning me money. My employees were happy, my customers were satisfied, and my bank account had started showing positive results.
I had invested money. Most of that money was savings and my husband's salary.
Lakhs of rupees were put into setting each corner of that shop, and suddenly everything came down crumbling.
I shifted my business to home.
"If you want to survive, the show must go on."
My income stopped, and I had to sell many furniture, machines, fabrics and many things I had acquired in the last six months because my house couldn't accommodate so many things.
Anyways, when your first plan fails, you start working on the second-best!.
I set up my work from home fashion boutique business that kicked off successfully. Another six months' had festivals and weddings, so that was a happy time for me and my work from home employees.
Small income and challenges prompted me to become an entrepreneur.
This happy phase did not last long, work-wise.
The house where we were living was a rented accommodation, and we had to vacate it.
By this time, I realized my resources were limited, and I was dependent on my business' survival at others. mercy.
If the shop is sold, my work is on the road.
If we vacated the house, my client base is unapproachable.
On top of that, I had the meagre income to sustain.
I took to digital entrepreneurship.
Around 2014, my husband gifted me a mobile phone, and this was when I created a Gmail account.
I had decided to do something on my own, and I started exploring different aspects of blogging, video making and content sharing online.
I was not a technical person, and not much content was available online as it is today.
That took me time to understand things one by one.
That one step I took out of desperation and curiosity helped me become an entrepreneur with zero money.
Why only me, most of the women who start with zero investment start their business with one of these sought after businesses :-
- Blogging
- Affiliate Marketing
- Freelance Writing
- Proofreader
- Bookkeeper
- Social media influencer
- Sell on Amazon
- Life Coach
- Start a dropshipping business.
- Design and sell print-on-demand t-shirts.
- Launch your own book.
- Create digital products or online courses.
- Sell print-on-demand posters, greeting cards, and prints.
- Start a charitable business.
- Sell a service.
- Create an online fashion boutique.
Why Most women with small incomes are likely to become entrepreneurs?
I found it is more lucrative to start a business with less money and gradually taste the fruits of your efforts.
According to the " 2018 Status of Women-Owned Businesses Report", American Express, nearly 3,000% more women own businesses than in 1972.
I spent more than 10 years in different jobs and I found life hectic.
You need a specific support system level if you want to do your regular 9-5 job. To me, being an entrepreneur provided me Flexi hours as compared to corporate culture.
If you look at the survey of American Express, women now make up 40% of all new entrepreneurs.
Here are some reasons why women prefer entrepreneurship to climb the corporate ladder.
To be more flexible
The truth is that women still care for children and ageing parents. One study found that women in America start businesses to be able to balance work and family life.
A second survey found that 74% of women believe flexibility is more important than making the most money.
This autonomy is beneficial for families where the family may be your top priority.
Women are increasingly turning to entrepreneurship because they can set their schedules, making it easier for them to exercise and maintain a healthy lifestyle.
They are worth what they cost.
The gender pay gap over the past 15 years has remained relatively stable. Even after putting in more effort and time into the jobs, women find themselves with a small income compared to their male counterparts.
It is not possible to fight the system every time, so more women are turning to entrepreneurship, and that is a good move because it gives you time freedom, money freedom, confidence and improves you as a person.
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