RAZVOJNA AGENCIJA – ODRAZ

CHARACTERISTICS OF WOMEN ENTREPRENEURS

23.06.2023.

The characteristics of male and female entrepreneurs are very similar; however, differences can be observed in motivation, business skills, and professional experience. Unlike men, who are often motivated by the drive to start their own ventures, women in entrepreneurship are motivated by the need for achievement, often due to frustration from previous experiences or limited opportunities for advancement. Notable differences can be seen in the financing of start-up companies. While men often have access to sources such as investors, bank loans, or private loans in addition to personal funds, women mainly rely on personal assets and savings. In terms of professional experience, although both men and women have the necessary experience in the field they are entering, men tend to have more experience in sales, finance, or technical areas, while women often have administrative experience limited to middle management levels.

While there are numerous characteristics of women entrepreneurship, some typical ones that stand out include:

  • The workplaces opened by women entrepreneurs are more secure since female-owned businesses are smaller and tend to have fewer job cuts.
  • There is a greater emphasis on employee care, quality, and interpersonal relationships, as these are aspects that women entrepreneurs prioritize.
  • Women provide more support to employees in their ambitions.
  • Employee education is given high priority.
  • Success is measured not only by profit but also by customer satisfaction, employee skill development, and good interpersonal relationships.
  • Organization and idea success are valued over profit and ego.
  • Teamwork and mutual support are emphasized.
  • There is greater understanding regarding cost compensation, profit sharing, flexible working hours, and maternity leave.
  • They exercise caution when it comes to loan realization.
  • Limited access to funding sources and capital markets.
  • They predominantly engage in service-oriented activities.
  • They are socially sensitive.

Women are better at resolving conflicts, more socially sensitive, and have a more accurate evaluation and assessment of employee behavior and people in their personal lives. They prioritize transformational leadership, listen to their subordinates, and provide them with opportunities to align their interests with the group’s interests. This is precisely why an increasing number of women are successful in the entrepreneurial field. The female leadership style is characterized by knowing their employees, actively listening to their personal and professional concerns, encouraging teamwork and collaboration, involving subordinates in decision-making and generating business ideas, fostering self-esteem among subordinates, sharing power and information vertically and horizontally within the organization, promoting job satisfaction, and resulting in more satisfied employees compared to organizations with male leaders in top positions.

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