Woman entrepreneur

Woman entrepreneur is defined as women who are innovative and think of a business enterprise she looks out for gaps in the society and fill them. They own enterprises which is managed, controlled, planned, and organised by them. They manage information and resources effectively.

Woman entrepreneurs are confident and believe in themselves.

Functions of women entrepreneurs

Advertisement: women entrepreneurs play major role in advertising, they make their products known to the public usually through a paid media.

Promoters: women entrepreneurs are promoter. They engage in creation, maintenance, and increase of the demand of the product through communication of the existence and utility of the product to the target consumers.

Supervision and control: they oversee the activity of the business and makes sure that everything is in order.

Risk bearing: They bear the risk of profit and loss of the business. This is a common characteristics of entrepreneurs the success or failure of the business is uncertain and their is risk of making profit or loss.

Idea generation: Good ideas are necessary conditions for innovation they generate ideas used in developing the enterprise.

Importance of women entrepreneurs

It creates employment: women entrepreneurs create job opportunities for themselves for themselves and other people they help in reducing in reducing the rate of unemployment in the society at large which intern leads to economic growth and development .

Promotion of technology: women entrepreneurs are able to contribute to the utilization of technology. Through product creation more and more different technologies which assist in production is produced in order to make work easy.

They promote entrepreneurial culture: woman entrepreneurs project image , they are figures, and role models that can be copied by young people .they are independent, confident, they think solutions to the problems around them , they are reputable in the society the youth would want to emulate their lifestyle.

Factors contributing to women entrepreneurship

Desire to succeed: most women want to show themselves and nearest surrounding as their market, that they can succeed. The massive desire to break out of average and put their ideas into action comes into play. They want to exploit their creative gifts and are satisfied when they accomplish it.

Desire to be independent: women face so much of financial challenges which in many cases the established job market cannot offer the flexibility desired by women. Most often they seen for other source of income through business establishments.

The need to care for the family: After marriage , giving birth to children and having a family may motivate women to start their own business enterprises in order to support the family financially.

Limitations to women entrepreneurs

Low level of confidence: most women entrepreneurs have low level of confidence whereas men tend to have very high confidence level the women sometimes thinks starting a business and running it smoothly is the role of the man so they exhibit a lack of self confidence in their own abilities as entrepreneurs compared to men. Similarly women who struggle with low self worth , low self esteem and low self confidence can easily project those traits onto their business.

Lack of funding: a prerequisite for starting a firm is to have capital in terms of financial asset and in terms of relevant knowledge asset. It is harder for women to obtain capital which would be used in running the business.

lack of relevant networks : women have lower social position than men and this have a role to in the kind of network they can access. most time its not what you know its who you know. women differ from men in the kind of network they use and in the social capital available to them through the network.

Balancing business and family life: women entrepreneur have dual responsibilities to their businesses and to their families. Devoting time to both is key to achieving a good work balance. Mothers are found to be more capable than fathers in understanding when a crying baby is hungry, wet or feels pain, the nurturing skill related to child rearing also requires involvement in household activities. Conflict of role is one of the problems of women entrepreneurs.