WHY WOMEN ENTREPRENEURS NEED A STARTUP ACCELERATOR
Are you looking forward to give your business a little boost? Are you confident that your idea would turn into great business? Are you looking for mentor ship and feedback? If your answer is yes to any of these questions, why not join a Startup Accelerator?
Startup accelerators are cohort-based programs that are fixed-term and emphasize on getting the attention, mentorship, and access to capital that startups need to succeed. While traditional business incubators are funded by government, startup accelerators are funded either publically or privately. Although startup accelerators may be open to anyone, but nowadays they have become highly competitive.
Today we need to highlight the minority and focus on women entrepreneurship. Women represent more than 50% of the educated population of this world, but the percentage of women amongst high-growth companies is very low. Due to the slowing rates of business creation and the long-term pessimism about development and the increasing number of women among educated workers, it seems clear that the future of entrepreneurship is in women’s’ hand. According to a survey it was found that women entrepreneurs correspond to a large resource for generating jobs and high-growth businesses.
Why Are Women-Owned Firms Smaller Than Men-Owned Ones? Despite all this progress, on average, women-owned businesses are still small compared with businesses owned by men. Still a fraction of people exist who think that woman just don’t have the potentials to start and run a substantial and growing business but on the contrary more than a quarter of a million women in the U.S. own and lead businesses that generate an annual revenue of about $1 million and these include multimillion dollar enterprises. So why are women-owned firms smaller? Firstly, there are women’s own self-limiting views of themselves, their businesses and the opportunities available to them. Secondly, there are the stereotypes, perceptions and expectations of business and government leaders, not all but there are many.
There are fewer resources available to women coming to entrepreneurship than men. The result is that they are more likely to go into industries such as retail or personal services where the cost of entry is low—but so is the growth potential. At this point, startup accelerators are help full. One of the examples of such firms is Empower.zone which offers startup accelerator opportunities in India. Zone STARTUPS is all set to empower a new set of rising women stars. It came into existence 2016, as India’s first tech accelerator for women entrepreneurs, empoWer provides mentorship, peer network, industry connects, investor meets through a 6-week accelerator program followed by a 1-year support program. Another example is Zone Startups. Zone Startups delivers production validation and customer development, a global network of corporate partners, insights from mentors and advisors, seed capital and much more. Zone Startups is operated by Ryerson Futures, a Toronto-based accelerator. Registration to such firms or offshore company registration can help support new women entrepreneurs.
Benefits of startup accelerators
Working with a startup company means you will have to work with a small team. This means your work will be monitored and other people will not be having same skills as you. This increases responsibility which is very important for new business. The opportunity to do work helps you master various transferable skills, or skills that are relevant across roles and industries. In one year at a startup, for example, you might get experience in project management, client relations, sales, marketing and finance.
- Learning experience from true innovators
People who initiate their own business have a different mental and professional approach compared to those who have never take a step to create something of their own. Entrepreneurs have skills of identifying a problem, innovation and unique way of addressing it.
- The ability of finding benefits from using limited resource
An example of this may be offering sales commissions to your hires bringing new business opportunities to your company. In this way you allow your hires to turbocharge their earnings and it helps them learn more about your business, making them feel part of the team, and get them talking about your business.
The ability for you to do your work on your own schedule and build a flow that fits with your families, friends and activities.
- Growth opportunities
Startup accelerator can fill in your gaps of not being able to generate finance. They can invest and boost your business. You can also get innovative ideas for your business expansion.
Author: Brenda Cagara
I have been writing for websites, articles and blogs for five years now. I have had a fair share of writing on variety of niches but my main focus is business, sales, finance and social media. Currently, I am working with business consultancy in Dubai (Riz & Mona) which offers offshore company registration and business setup services across all states of United Arab Emirates. Our other services are products registration, visa processing, bank account opening, trade license, trade mark, local sponsors and many more.