Men seem to dominate the world in different fields like politics, science, and sports. Such is the case in business wherein big-time business tycoons usually include men like Bill Gates, Steve Jobs and Mark Zuckerberg. In the Philippines, Henry Sy, Lucio Tan, and John Gokongwei appear to reign the business world. There may not be ‘her’ in history or ‘woman’ in human but it doesn’t mean that ladies cannot rule the business world the way men do.
Statistics
According to the 2013 Global Entrepreneurship Monitor (GEM) Women’s Report, 126 million women were starting and running their own businesses in 67 economies around the world. In another international study, 70 percent of the SME business startups are owned by women in the Philippines. The 2016 Statistical Handbook on Men and Women in the Philippines of the Philippine Statistics Authority stated that there are more women registered as business owners than men.
Strengths
What is it with women that make them built for entrepreneurship?
CEO of Francorp Philippines Alegria “Bing” Sibal-Limjoco stated that women tend to excel in business due to several unique traits they possess that are essential in running a small and medium enterprise (SME). These strengths include:
1. Multitasking – They can take care of the affairs of the family, raise their children and run a small-scale business.
2. They don’t mind starting small – This is because women like to join bazaars, conventions and other avenues to sell the products they make, bake, cook or sew.
3. They have a big personal network – Women love to connect, talk and have a great social life. They have bigger networks due to their social media platforms, collaborative nature, and fondness for sharing ideas with various people. They make good public relations officers and marketers of their businesses.
Female entrepreneurs do not only focus on themselves but also to other people. Their concern is manifested in their products wherein these are beneficial to their customers. Such is the case of Cai Sio of the Paper Chic Studio. With her drive to provide pretty and environment-friendly party supplies, the Paper Chic Studio was born. Some of its party paraphernalia include washi tapes, candy cups, paper bags and paper drinking straws in a variety of colorful designs and patterns. The goodies are printed with certified food-grade soy ink as well as candy cups and wax-lined cups. Products are eco-friendly and biodegradable.
Benefits
For women, entrepreneurship can be a great source of income and it also offers better lifestyle choices. It doesn’t only provide profit but also delivers self-satisfaction. They are able to create products they are passionate about. Entrepreneurship can also aid women to boost their self-esteem because they are able to lead their own exceptionally successful businesses.
According to a new study conducted by Development Economics and YouGov on behalf of Facebook, encouraging women entrepreneurship could boost the economic growth of the Philippines and potentially create millions of jobs in the country.
The study shows that 87 percent of women in the country want to start their own businesses and if 60 percent of these Filipinas were empowered to start a business now, it would build 1.349 million new businesses and create 3.933 million additional jobs by the end of 2021.
It is not a man’s world after all or it never is. Many female entrepreneurs have proven that women can also excel in the field where men commonly engage in. Ladies should celebrate this new generation wherein they are given the privilege of freedom to choose the path they want to take.
How about you?
- What do you think of women exploring areas of interests that are usually dominated by men?
- What are the possible solutions to overcome barriers to gender inequality in different fields of expertise and interest?