“Honey, female entrepreneurs aren’t a real thing. They don’t make any money.”
The older businessman — seated across the small mastermind table from us — dismissed all women in one curt sentence.
The problem, however, is that statistics actually support this statement…
[watch video below to learn more and hear the rest of the story!]
Globally, 97% of female start-ups fail in the first 5 years — 2x our male counterparts.
Why is this the case?
• Women complete 2.6x more unpaid work than men do.
Shopping for food, preparing meals, cleaning, washing clothes, collecting water, looking after children, family members, and those with disabilities — this unpaid work falls mostly on women.
(Source: United Nations & Newsweek, 2018)
• Women are less likely to get funding.
Just 2.2% of all venture capital in the U.S. goes to companies founded solely by women. Companies with all-male founders receive funding after their first-round close to 35% of the time, but this is less than 2% for companies with female founders.
(Source: Market Watch, 2019)
“The SME (small and medium-sized enterprises) finance gap for female entrepreneurs in developing countries at $1.48 trillion.”
• Women face greater obstacles in many parts of the world.
In over 33% of economies, women do not have the same legal rights as men in freedom of movement and other areas. In some countries, women cannot register a business, sign a contract, or open a bank account.
“1 in 5 women and girls have experienced physical and/or sexual violence by an intimate partner with the last 12 months. Yet, 49 countries have no laws that specifically protect women from such violence.”
(Source: UN.org )
• Female-led businesses get less publicity and media attention.
“When the focus is the economy, only 5% of news stories feature or center on women.”
“Only 26% of total news coverage in newspapers, radio and television combined [online it’s 24%] featured women in 2015.”
(Source: Report by The Global Media Monitoring Project, 2015)
• Women need more access to mentors and peer-to-peer support.
“48% female founders cite a lack of available mentors or advisers as holding them back.”
(Source: Inc, 2015)
[A Photo from Our First Meeting in 2018! #GirlPower]
*Older businessman not pictured.
Our Goal: Reduce the failure rate for female businesses by 50% before the year 2030
A lot needs to change.
We know we can’t tackle it all.
But, instead of just being angry at a rude comment (and discouraged by statistics and obstacles), we decided to take proactive action forward…It was the spark to ignite the Who Run The World movement![WRTW, for short!]
Training. Support. Community.
We provide women growing businesses with the right tools, in the right order, at the right time
…in an extremely cost-effective way!
Sharing our own skills and international networks, we’ve also formed collaborations with some of the most credible and well-known female entrepreneurs in the world.
Our growing community is founded on the power of mentorship and peer-to-peer support.
The fire is lit!
Will you join the movement?
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