Here in Australia, we know the gender diversity
debate in any field is closely related to other factors
such as access to childcare, traditional caring roles,
flexible work opportunities and the cost of living.
But, post my trip, it begged the question of how the
US, a country with less support offered to women, is
ahead of us in entrepreneurship. Could the fact that
the laws are less favourable to women be driving
more to higher degrees of competitiveness, business
achievement and growth? Is it that that they are less
risk averse and have stronger business networks? Or
did they just get a head start in a bigger economy?
There isn’t one clear answer. But experts agree on the
solutions to the challenges presented.
Nicole Watson, Senior Manager, Digital Channels,
Commonwealth Bank - Women in Focus Community,
believes that more women need to be encouraged
within the entrepreneur ‘systems’. She proposes
change on a more fundamental level.
“Grass roots programs – from school to university and
founders institutes, women need to be encouraged –
with promising data that entrepreneurship is a viable
and valuable path to start on. Female entrepreneurs
sharing their stories with young women is vital for this
process,” says Watson.
Recognising the lack of funding options for women,
the last two to three years have seen more women
focused angel and seed investors enter the market to
drive the change they want to see.
According to McKenzie, “We need more female
investors so that in turn female entrepreneurs are
able to raise more capital. We need to address
the unconscious bias and lack of encouragement in
the venture capital (VC) community for both female
entrepreneurs and investors, who have been leaving
the traditional VC firms (Aspect VC in the US, Arbor
Partners in Asia), establishing their own women led
firms or angel investing directly (Scale in Australia,
Golden Seeds in the US).”
As we move on to the next Women’s
Entrepreneurship Day, we need to consciously be
involved in the change we want to bring about,
take an avid interest in our investments big and
small – from the holiday savings account to our
superannuation and capital investments and be more
involved in supporting other women entrepreneurs.
Each of us has a role to play in creating an ecosystem
that supports women entrepreneurs. Let’s start today,
so we can share our own stories of success in a year’s
time.