Key challenges Women Entrepreneurs face
1. Access to Funding
Women-owned businesses receive only 2.3% of venture capital funding, despite owning nearly 40% of small businesses. Women, particularly women of color, face bias in funding processes and are often seen as “high risk” investments, leading to limited growth and scalability opportunities.
2. Limited Networks
Entrepreneurship thrives on relationships, but women often have fewer networks than their male counterparts. This lack of connection to business mentors, investors, and other key stakeholders can significantly impact their growth potential and access to opportunities.
3. Gender Bias & Societal Expectations
Female entrepreneurs often juggle the double burden of business ownership and societal expectations. They are more likely to encounter bias in decision-making roles, limiting their ability to access leadership positions and influential spaces.
4. Skill Development & Mentorship:
Without proper mentorship and business development training, many women face difficulty scaling their businesses and sustaining long-term success. Gaps in digital skills, financial literacy, and business strategy often lead to burnout and stagnation.
Your donation will:
Support business coaching and development programs designed for women and diverse entrepreneurs.
Fund networking events and workshops that connect women with vital resources and expert mentorship.
Foster inclusive spaces where women-owned businesses can thrive and build sustainable success.
Provide resources to men who actively support women entrepreneurs, creating a balanced environment of shared growth.
We invite you to join us in empowering women entrepreneurs and their allies. Every donation makes a difference in breaking barriers and fostering equality in business. Help us build a future where women and men thrive together in the entrepreneurial world!
Donate Today and be a part of this transformative movement. Let's create lasting change, one empowered entrepreneur at a time!
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The Challenge: Gaps Women Entrepreneurs Face
Despite progress, women continue to face significant gaps in entrepreneurship.
Statistics on entrepreneurs who quit their businesses due to life challenges such as family deaths, loss of income, caregiving, or relationship breakdowns show distinct gender disparities. Women are more likely than men to close their businesses for these reasons, as they often bear a greater caregiving burden. Women face a higher risk of business closures related to caregiving for elderly family members or due to the emotional toll of divorce or family loss.
Additionally, 54% of women entrepreneurs cite caregiving as a primary reason for stepping away from their businesses compared to 36% of men (Women in Family Business). This shows the significant impact of personal life events on women’s entrepreneurial sustainability.
Women disproportionately bear caregiving duties, especially for elderly relatives, which often leads to them leaving the workforce or scaling back their businesses. In a 2019 study, 13% of women entrepreneurs reported quitting their businesses due to caregiving responsibilities, compared to just 3% of male entrepreneurs. This trend is consistent with the broader pattern where women are more likely to take on caregiving roles, impacting their business continuity (NWBC).
Female entrepreneurs are more likely to experience greater financial and administrative burdens after the death of a spouse. For instance, widowed women often face challenges that affect their ability to manage or continue their businesses. These include increased vulnerability to financial instability, administrative overload, and difficulty adjusting to life post-bereavement (BioMed Central.)
Divorces disproportionately affect women’s entrepreneurial ventures. Research suggests that women are more likely than men to experience financial setbacks after a breakup or divorce, leading to a 30% higher likelihood of closing their businesses due to loss of shared income and time constraints related to single parenting (NWBC)(BioMed Central).
Women-owned businesses are more vulnerable to financial crises due to systemic inequalities like lower access to capital and income disparities. Loss of household income due to events such as a partner’s job loss or personal financial hardship leads to 23% of women entrepreneurs citing financial strain as a reason for exiting their businesses, compared to 14% of men. This is often exacerbated by lower cash reserves and access to external funding (BioMed Central)(NWBC).
Here is a scenario this 12 month program would support…
Person: A Woman who is starting or running a Business, experiencing a crisis such as Domestic Violence, Divorce/Breakup, Death in the Family, and in need for emotional healing at their lowest point.
Jasmine's Struggle
Jasmine had always dreamed of owning her own bakery. After years of working long hours in corporate jobs, she finally took the leap to start “Sweet Serenity,” a small bakery in her hometown. With her culinary skills and passion for baking, she envisioned creating a warm space where people could gather, enjoy delicious treats, and celebrate special moments.
Just as her bakery began to gain traction, tragedy struck. Jasmine's beloved mother, her biggest supporter and source of inspiration, passed away unexpectedly. The loss shattered her emotionally, leaving her heartbroken and struggling to cope. To make matters worse, the financial burden of funeral expenses and a sudden decline in foot traffic due to local events being canceled pushed her to the brink of financial ruin.
As weeks went by, Jasmine found herself overwhelmed by grief. The once vibrant bakery felt empty without her mother’s laughter echoing through the walls. She struggled to keep up with orders and even neglected basic tasks like restocking supplies and maintaining cleanliness in the shop. Each day, she fought against the temptation to close the doors for good, feeling like she was letting down her mother’s memory.
Jasmine’s income dwindled as she fought to keep the bakery afloat, and the weight of her responsibilities became increasingly heavy. The bills piled up, and her savings dwindled to nothing. She felt alone, doubting her ability to overcome the loss while also managing a business. The stress left her sleepless at night, spiraling into anxiety about her future and the dream she had worked so hard to achieve.
Friends and family urged her to take a break, but Jasmine couldn’t bear the thought of abandoning her bakery, a testament to her mother’s love and support. Feeling lost and at her lowest point, she began to question her worth as a business owner and whether she had the strength to continue. The joy of baking was overshadowed by the grief that consumed her, leaving her in a dark place with no clear path forward.
Desperate for support, Jasmine contemplated seeking help but felt embarrassed to admit her struggles. She feared that reaching out would signify defeat, not understanding that seeking assistance could be the first step toward healing and regaining control over her life and business.
The WIN GA Gives Campaign is designed to support women like Jasmine, who find themselves at a crossroads in their personal and professional lives due to overwhelming crises, such as the loss of a loved one or a decline in income. By providing personalized mentorship, the campaign connects Jasmine with seasoned mentors who understand her challenges and can offer emotional support while giving practical advice on managing her bakery during this tumultuous time.
Additionally, the campaign connects participants to crucial funding sources, including grants and small business loans, which would alleviate the immediate pressure of mounting bills and allow Jasmine to reinvest in her bakery, giving her the breathing room she needs to focus on healing.
The campaign fosters a supportive community of women who understand the unique challenges faced by female entrepreneurs, enabling Jasmine to connect with others who have experienced loss, thereby reducing her sense of isolation. Networking opportunities, both in-person and online, allow her to build relationships with fellow business owners and potential clients, facilitating collaborative efforts and increased visibility for her bakery.
Access to educational resources focused on business planning and marketing would empower Jasmine to attract more customers and revitalize her customer base through targeted marketing campaigns.
Furthermore, the campaign provides guidance on navigating the often-complex process of applying for grants and securing alternative funding sources, empowering Jasmine to take actionable steps toward financial stability.
Training on leveraging technology and artificial intelligence would enable her to streamline operations, manage her time effectively, and enhance customer engagement. Continuous brand exposure through WIN’s platforms would help Jasmine attract new customers and build a loyal client base, ultimately aiding her recovery from the downturn caused by her personal crisis. With ongoing access to experienced WIN consultants, Jasmine would receive personalized guidance tailored to her unique situation, ensuring she feels supported and informed as she navigates challenges.
In summary, the WIN GA Gives Campaign offers Jasmine a comprehensive support system to navigate her grief while rebuilding her business. By providing mentorship, funding resources, community connections, and essential business education, the campaign empowers her to transform her pain into a source of strength and inspiration, ultimately honoring her mother’s memory by creating a thriving bakery that reflects her passion and resilience.
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