Women are reshaping global economies, owning 33% of businesses worldwide. However, limited access to funding and networks continues to hold them back. In 2022, less than 2% of VC funding in the U.S. went to women-owned businesses. However, research shows that increasing women’s participation in business could add trillions of dollars to GDP, foster inclusive growth, and strengthen communities.
So, supporting women entrepreneurs isn’t just about equality—it’s about creating lasting economic progress.
Common Challenges Faced by Women Entrepreneurs
Let’s take a moment to acknowledge the hurdles many women encounter when starting or growing their businesses. These aren’t just minor inconveniences—they’re systemic roadblocks that can derail even the brightest ideas.
One of the biggest obstacles is access to capital. Despite the promising data on women’s business contributions, they still struggle to secure funding. In many cases, conscious or unconscious biases play a role in decision-making, leaving women entrepreneurs fighting uphill battles. Initiatives like crowdfunding and government grants are filling this gap, but there’s room for more tailored solutions.
Another challenge lies in building robust professional networks. Networking events, mentorship programs, and industry meetups often cater to a predominantly male audience, unintentionally excluding women from key growth opportunities.
Finally, societal norms can’t be ignored. Women are frequently expected to balance business aspirations with caregiving responsibilities, a burden that leaves little room for pursuing ambitious goals. It’s not just a personal challenge; it’s a structural issue.
But here’s the thing: these challenges are not insurmountable. With the right strategies and support systems, women entrepreneurs can overcome them and create lasting change in their industries.
Strategies to Empower Women Entrepreneurs
Addressing the challenges women entrepreneurs face requires more than acknowledgment—it calls for actionable strategies catering to their unique needs. Here are some proven approaches that can make a tangible difference:
1. Creating Access to Funding
Securing funding remains a significant barrier for women. Tailored financial initiatives, such as grants, low-interest loans, and venture capital funds exclusively for women, are essential. Such programs help level the playing field and open doors to opportunities that might otherwise remain out of reach.
Additionally, crowdfunding platforms have emerged as game-changers. They allow women to present their ideas directly to supporters, bypassing traditional gatekeepers. This democratized funding model has already empowered thousands of women worldwide.
2. Building Mentorship Networks
The value of mentorship can’t be overstated. A mentor offers not just guidance but also encouragement and insight into navigating the complexities of business. For women, mentorship programs designed by industry leaders or non-profits can provide the tailored support they need.
Organizations are now stepping up to facilitate connections between aspiring entrepreneurs and seasoned professionals. These initiatives are about more than sharing expertise—they’re about building confidence and creating a community where women feel supported.
3. Leveraging Technology
Technology has become an indispensable tool for entrepreneurs. From streamlining operations with CRM systems to using social media for marketing, tech equips women with the resources they need to compete effectively.
Digital platforms offering free or affordable training in tech skills are particularly helpful. For example, online courses in financial management or marketing can empower women to take their businesses to the next level, regardless of their starting point.
These strategies are practical and proven to help women break through systemic barriers. They aren’t just ideas—they’re blueprints for success.
Support Systems Driving Change Globally
While challenges exist, several countries have pioneered initiatives to support women entrepreneurs. These efforts serve as models, showing how focused systems can yield impressive results.
India: Government and Private Sector Interventions
In India, the government’s PMMY (Pradhan Mantri Mudra Yojana) y Stand-Up India program have been instrumental in offering credit to women-led businesses. About 68% of the beneficiaries of the Pradhan Mantri Mudra Yojana (PMMY) and 77.7% of the beneficiaries under Stand-Up India are women, empowering them to start and grow small enterprises. Similarly, private incubators like AIC Banasthali y SHE Capital focus exclusively on funding women entrepreneurs, bridging critical gaps in the ecosystem.
Canada: Women Entrepreneurship Strategy (WES)
Canada’s Women Entrepreneurship Strategy (WES) invested nearly $7 billion CAD to double the number of women-led businesses by 2025. This initiative provides access to funding, mentorship, and skill-building programs, ensuring a comprehensive support system.
Nigeria: Female-Focused Policies
In Nigeria, programs like SheTrades Nigeria are transforming opportunities for women entrepreneurs by connecting them to international markets and offering export-focused training. These initiatives aim to increase the participation of women-led businesses in global trade. The Women’s World Banking Program has made significant strides in financial inclusion, leveraging digital credit solutions to empower Nigerian women entrepreneurs. Further emphasizing regional efforts, the Business fair of the Federation of Business Women Entrepreneurs (FEBWE), supported by ECOWAS, serves as a vital platform for West African women entrepreneurs.
Japan: Womenomics Movement
Women make up only 34.2% of entrepreneurs and 14.2% of CEOs in Japan, with just 1-2% securing venture capital or achieving IPOs. To address this disparity, initiatives under Japan’s Womenomics policy provide financial incentives, mentorship, and training for women entrepreneurs. Emerging private accelerators and investor networks are also creating opportunities, helping to bridge the gap and support women in scaling their businesses.
Turning Challenges into Opportunities
These examples show that while challenges vary, tailored solutions can drive meaningful change. Addressing funding gaps, limited networks, and systemic biases requires public and private collaboration. With the resilience of women entrepreneurs, these efforts can transform businesses and economies alike.
WE Hub and Wadhwani Foundation: A Transformative Partnership
In India, the partnership between WE Hub, a Government of Telangana initiative, and the FUNDACIÓN WADHWANI is a prime example of such collaboration. Together, they’ve co-designed programs that combine mentorship, skill-building, and practical tools to enable women-led businesses. By leveraging the unique strengths of both organizations, this initiative is helping women navigate systemic challenges and seize new opportunities.
The impact is already visible. Women entrepreneurs engaged in these programs report improved access to resources, stronger networks, and enhanced confidence in scaling their businesses. This partnership not only addresses immediate challenges but also lays the groundwork for long-term growth and sustainability.
Empowering Women Entrepreneurs to Succeed
Women entrepreneurs are driving innovation and creating lasting change across industries. At Wadhwani Foundation, our initiatives are tailored to address the unique challenges women face in business, offering mentorship, resources, and networks to support their growth.
Whether starting a new business or scaling an existing one, these programs turn challenges into opportunities and help women transform their ideas into impactful enterprises.
Learn more about our initiatives empowering women entrepreneurs globally.
