By Nolulamo Matutu

As the international community celebrated women’s month and the recent statistics of the success rate of women entrepreneurs in South Africa, we take a holistic view to this success and analyse the challenges that women face. Entrepreneurship has great potential to contribute massively to the economic growth and employment generation in South Africa. Amidst the statistical success rate, women entrepreneurs face different issues depending on the stage of their personal life cycle, region, legislation and industry. All entrepreneurs are bound to face challenges, but women because of their gender often experience additional challenges when compared to their male counterparts.

Some statistics indicate that women are starting up new businesses more than their male counterparts because of their innovation and creativity, the high success rate of these businesses shows that women are more focused and resourceful than their male peers. Lack of career advancement, autonomy, passion, power and determination to succeed are some of the reasons why women go into business. Women are mostly motivated to make a difference in society. Their conceptual skills are one of the key factors that drive and sustain their achievement. Some business analysts are concerned that women are seen to only do well in some industries like human resources, arts and fashion. The owner of a Bella Bonni Guest House and Steel and Construction firm Zamani Engineering, Meisie Nkosi, disagrees. As an employer of over 100 people she attests that women can do well in any industry if the passion and determination to succeed is there.

Some studies have noted that at early stages in school, some teachers often segregate pupils and give more attention to boys when it comes to science courses while more is given to girls when it comes to arts courses.  This has adverse effects at later stages in life with women coming to believe that they can only be successful in certain professions or business ventures. Women often are also stereotyped by other females who see them as threat to the female sphere. With more than 20 years experience in small business development, Lahle A. Wolfe says single mothers are more likely to succeed as they are good at delegating, budgeting and have great inter-personal skills, skills they rely on to manage their families.

Breaking down barriers
Geographical location may also impede women’s success, as some industrial locations are dominated by men which often lead to stereotyping limiting women from healthy competition or business opportunities. The Managing Director and Owner of Mmadipotwana Productions, Moleboheng Matli, attributed her success to great focus, discipline and perseverance. Having started her business three years ago and currently the age of 30, her passion has been key to her amazing performance. Lack of education and corporate background, mentorship, management skills and training are among the obstacles facing women entrepreneurs.

Ms Matli, hailed the power and commitment of women in business and identified mentorship as a key aspect in driving performance and success in aspiring young women entrepreneurs.  Having ventured into business in many African countries, she is concerned that undue fraternal relationship demands by men in business or in power will be a deterrent factor for women entrepreneurs. However, operational, emotional and financial support is a sine qua non for long- term profitability and advancement of women in business.

Finally, young aspiring and established women entrepreneurs should see themselves as priceless, unique and passionate about their business ventures. With strategized mobilisation, mentorship, support and well-versed information to exploit opportunities, women entrepreneurs can continue to be a driving force in today’s modern economy. The current research by Grant Thornton International Business Report reveals that South African business women progress much better than their global counterparts. With South African Government’s commitment to reducing red tape for small business owners and emphasis on gender equality, women entrepreneurs could look forward to breaking out the mindset that women are only good for selected professions.