According to research done by Development Economics, women-owned businesses in South Africa established between 2018 and 2019 may generate close to 1 million jobs and about R175 billion a year. Impressive, right?
As female entrepreneurs we face challenges that are unique to us. Common barriers include a higher level of domestic responsibility especially during school holidays, lack of female role models in the business sector, fewer business-orientated networks in their communities, lack of capital an assets & culturally-induced lack of assertiveness and confidence in their ability to succeed in business.
It’s no secret that having the support of other leading ladies can make a major difference to the success of a female-owned business. When your network contains others who can identify with your struggles, they can then help motivate you from a personal perspective. Here are a few ways that women in business can empower each other.
- Invest In Women-Owned Businesses
We should not only offer any advice we can but also mentor up-and-coming female entrepreneurs, shop at local businesses and invest in their businesses.
- Shop Local Businesses
Shopping local slow fashion is the best thing you can do for small businesses. It doesn’t only put the biggest smile on our faces but it also helps the economical state of the country. We all know SA needs a bit more of that at this stage.
- Celebrate One Another's Successes
Sending some love you other businesses on social media, or through online reviews make the biggest difference for local businesses.
- Make One Impactful Introduction
Buying products made by women will help in some extent, but one introduction to the right person can be life-changing. I mean can you even imagine meeting Kris Jenner.
- Share Your Knowledge
Sharing your knowledge is the best way to support women in business. If your past mistakes/successes can help other women avoid similar mistakes or provide them with a great idea, then you have made a positive impact.
- Ask Them What They Need
Asking female entrepreneurs what they need and then commit to providing it for them can be the most impactful thing. The tricky thing for us as women is however to figure out what the heck it is we actually need/want. Ha-ha!
- Promote Them On Social Media
People like to hear from real people this can be done by sharing posts or information about products and engaging with them. We’re often so quick to share one’s flaws. But we should learn how to praise in public and how to give constructive criticism in private.