More and more women are becoming their boss. They are shining in their chosen field, from excelling in fashion franchise opportunities to establishing their own tech companies. They are taking every business opportunity as a means to showcase their skills. Every step they take proves that they can become entrepreneurs, as well.
It might have been more difficult decades ago, and admittedly, there are specific difficulties now as prejudices still exist, but that is not stopping them from reaching their goal. According to a report commissioned by American Express, the amount of women-owned businesses increased by 3,000% since 1972. As a matter of fact, in the US, an average of 1,821 enterprises was established by women per day between 2017 and 2018.
With the numbers stated above, you might be imagining women fresh out of university, or young professionals who have acquired the money and motivation to become employers instead of employees. However, the age of women who are managing their businesses does not stop there. Even after 50, women are unleashing the inner CEO in them. Debunking the myth of a young entrepreneur, the average age of a successful startup founder is 45. This goes to show that society’s previous idea of women, whose worth decline over the years, is not true—just like the misconceptions that women have been receiving over the years.
Here are the reasons why women stop climbing the corporate ladder to build their way to the top:
To escape the glass ceiling.
A study conducted by the Harvard Business Review shows that women who perform the same as men, from the number of tasks done in a day to the level of participation in meetings with superiors, are still treated differently. This makes promotion more difficult for women, making them 15% less likely to get promoted. Apparently, it will take more than a century to fix this hierarchy in the workplace. As a result, women are finding a solution by establishing their own business. By being their boss, they can work in a fair environment and advance in their careers without hindrance.
To pursue their passion.
Working for a company rarely brings out people’s passion. It is similar to working for the growth of an entity that is not yours. Rationally, devoting time on something that does not relate to you in any way is time wasted, which is why many women are leaving their corporate job. By having their own business, they can have a work that is fulfilling and proudly theirs. A successful business thrives not only through excellent managerial skills. Passion plays a huge role in its success. There’s nothing more satisfying than waking up in the morning for a business that is built out of passion and love.
To achieve what they deserve.
According to the Census Bureau, working women only earned 80% of what their male counterparts earned in 2016. It doesn’t seem to change anytime soon. At the same time, women are subjected to experience a layoff in their corporate careers. As employees, women are in constant anxiety for their future. Women are choosing to overcome these structural hindrances by having their own business. It gives them the chance to be in control of their life.
Women are empowered now, rightly so. And by saying “empowered women,” it means women who are taking opportunities that have long been available to men.