Female trailblazers
Miriam Makeba, Thuli Madonsela, Ferial Haffajee, Caster Semenya, Albertina Sisulu, Thandi Klaasen, Zanele Muholi, Gcina Mhlophe. Just a few of the powerful, bold, trailblazing women who stood tall before us. Now it’s our turn to step up, reach our potential and make them proud.
How far we’ve come
Struggle is no stranger to the female population. Women in every culture around the world have grappled with the rise to equal status in society since the dawn of time. We have always had to fight for what we deserve.
From the right to vote to a seat at the executive table, women have intrinsically known that we have the power to shift the narrative from the primitive chauvinist era to the more diverse world we live in today.
A McKinsey Global Institute study found that advancing women’s equality could add $12 trillion (R176.75 trillion) to the global economy by 2025.
The community
Women in South Africa and broader Africa have a resilience respected by the rest of the world which has enabled many to earn their place at the executive level of businesses and institutions, however it still feels more difficult than it should. No matter the industry, if women are successful, they almost certainly have some sort of emotional and/or financial support system or sisterhood backing them.
The female entrepreneur story
Small business is the key to the growth of the South African economy. Small businesses are agile and able to innovate, create jobs, uplift the community around them and demonstrate positive role models to future generations.
Entrepreneurship is hard enough without the burdens of being a women in a historically male-dominated society. Women often give up tertiary education and career opportunities to have children or care for other relatives. Additional, they sometimes lack the assertiveness to ask for pay raises making the fight for career advancement that much harder.
Complexities
It is against this backdrop that women are equal on paper but no in reality. Women still face challenges with obtaining financial support, skills development and advisory services required to start and run a successful business.
The good news
The pandemic has created a pressure-cooker economic climate for many women either making or breaking dreams of entrepreneurship. According to Engineering News, “South Africa is one of only 12 economies where women’s entrepreneurial activity rates increased, with 11.1% of working-age women engaged in early-stage entrepreneurial activities.” This is a great platform for growth and a promising indication that we can continue to build a strong female entrepreneurial workforce in this country.
Advancing women owned business
Since the effects of the pandemic, numerous institutions are stepping in to support women owned business where they can, “In 2020, Mastercard expanded its worldwide financial inclusion commitment, pledging to bring a total of one billion people and 50 million micro and small businesses into the digital economy by 2025. As part of this effort, there will be a direct focus on providing 25 million women entrepreneurs with solutions that can help them grow their businesses, through a range of initiatives crossing funding, mentoring and the development of inclusive technologies.”
The solution
South Africa is in need of more women in leadership. If we take a step further, it’s in need of women mentors who can provide the necessary support for younger women who have the potential to create their own successful businesses and realise their potential.
We are well-positioned to build on the current economic climate and advance the potential for successful women-owned business.
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Deborah Aremband(http://www.Deborah.aremband.co.za)