To The Women Who Dream & Execute!
Running a small business is a challenging endeavor, and the experience can be particularly difficult for women. In this article, we will discuss the experiences of women running a small business and the unique challenges they may face.
As an African American woman, running a small business can be an uphill battle. According to a report by the National Women's Business Council, Black women own more than 2 million businesses in the United States, but they face significant barriers to success. These barriers include limited access to funding, discrimination, and lack of representation in business leadership positions.
Despite these challenges, many women are successfully running their own businesses. The experience of running a small business as a woman can be both rewarding and challenging. Here are some of the experiences that woman of color may face while running a small business:
Lack of access to funding: women entrepreneurs may face difficulty in accessing capital to start or grow their businesses. Banks and investors may be less likely to lend to women, and particularly to women of color, due to unconscious bias and discrimination. As a result, many women entrepreneurs have to rely on personal savings, family and friends, or alternative funding sources to finance their businesses. However, I was so blessed during the time I started a business to have access to building business credit and leveraging it to grow my business! Join my newsletter to hear more about my experience!
Overcoming stereotypes: women entrepreneurs may face stereotypes and biases that assume they lack the necessary skills or knowledge to run a successful business. This can create additional hurdles when seeking funding, networking, or building a customer base. Never let this stop you! We have and will continue to face obstacles that will shape our character and business mindset, use this an an opportunity to stretch and grow!
Navigating racism and sexism: women entrepreneurs may face discrimination in the form of racial and gender-based biases, which can make it challenging to build relationships with customers, suppliers, and investors. These biases may also affect access to resources and opportunities, such as business loans, networking events, or mentorship programs. Stay ahead of the curves, do your research, be prepared, and remain focused on the what not the “who”. Hear “no” as “ not right not” , “not asking the right person/in the wrong place” Keep going!
Balancing work and personal life: Running a small business can be time-consuming, and many women entrepreneurs have to balance their work and personal life. This can be particularly challenging for women who are also caregivers or have other responsibilities outside of their business. Make time for yourself, make time to breathe, talk a walk, go on a hike, and to be present with YOU! Fill your cup in order to life well, but to enjoy it not go through the motions of it!
Women entrepreneurs are making significant contributions to the economy and their communities. Many have developed innovative solutions to address social and economic challenges, such as creating jobs, promoting economic growth, and supporting underrepresented groups. Existing amount this group of women is such an honor for me and serves the everyday purpose/passion I have for my clients and the overall vision of Mia Ellen and Co.
In conclusion, the experience of running a small business can be both rewarding and challenging. Women entrepreneurs face unique challenges, including limited access to funding, discrimination, and stereotypes, but many are finding ways to overcome these barriers while making important contributions to their communities and the economy. It is important to continue to support and uplift women entrepreneurs and entrepreneurs around the world, so that they can achieve their full potential and create a more equitable and prosperous society.
To everyone woman who has a dream she is executing, I stand with you! I am you, we will prevail!
Mia E. Price
