Research worldwide shows that when it comes to entrepreneurship, high-growth, substantial businesses – female-owned businesses are still in the minority.
The Global Entrepreneurship Monitor revealed that the typical South African entrepreneur is male and between the ages of 25 and 44. However, the number of women entrepreneurs is increasing, and they are starting businesses previously dominated by men.
Access to funding for women
According to Shakes Motsilili co-founder of Africa New Energies, female entrepreneurs are rising in numbers, without access to appropriate funding many start-ups will find it difficult to grow their businesses, regardless of whether there’s a man or woman at the helm.
“Fortunately, access to funds for female entrepreneurs is improving thanks to government and private enterprises with programmes and funds in place aimed at empowering the women of South Africa, he explains.
There is more than one way to fund a new business venture and fuel its growth. For almost all, it is going to require bringing in outside money at some point. Even if that is only to multiply what is working or to create a source of emergency capital.
Funds and financial assistance programmes for women
Here is a small list of funds and financial assistance programmes for women entrepreneurs in South Africa.
Follow the links for more information:
1. The Isivande Women’s Fund (IWF)
2. Women Empowerment Fund (WEF)
3. Business Partners Women in Business Fund
4. Absa Women Empowerment Fund
We hope that this will be used to inspire young aspiring female entrepreneurs.
It is vital for entrepreneurs not to blindly follow the herd just “because everyone else is doing it.” Discover which is best for you, at your stage in business, and stack the most advantages in your corner.