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Building a baseline

new research

Post graduate students from Carnegie Mellon University took on a Chooks challenge. We gave a team of Masters students the task to cast a gender lens over women in business as entrepreneurs.

Thank you to Rahul Kumar Sonal Verma and Vivek Pawar.

The full report is available on request and draws on research from around the world and a local survey. Here are the recommendations and we look forward to sharing more of the report with you in the near future at various events coming up in Entrepreneurs Week, including a session with TechStars Bootcamp.

Recommendations to Industry

Considering the challenges faced by the women in business following recommendations can be made to the industry in Australia:

• Promote women as leaders in the industry. Increase their participation.

• Reduced the gender pay gap to help the women secure their financial status

• Direct the recruitment process to provide for more representation of women in the senior management level.

• Within the organization, make policy changes to provide a proportional representation of women in the annual promotions

• Give a flexible environment for women to work considering the fact that they have greater activity in the unpaid domestic work as noted earlier in our analysis in the report

• Acknowledge sensitivity towards women who have dependents at home. Provide for their dependents in terms of more inclusiveness in the corporate healthcare programs

• Conduct workshops to promote financial literacy amongst the female workforce. Make this as a part of induction program.

• Provide women with leadership opportunities to boost their confidence.

Recommendations to Community

Considering the challenges faced by the women in business following recommendations can be made to the industry in Australia:

Following are the recommendation to the community in general:

• Choose your leaders wisely at the local, state and federal level of leadership.

• Volunteer in taking responsibility to promote financial literacy amongst women.

• Encourage young girls to increase their interest in taking STEM related courses while in school and colleges.

• Conduct workshops at the community level to spread awareness about the benefits of owning a business.

• Respect women at the domestic level and support them in regular household work.

• Contribute in crowd funding when a female entrepreneur is asking for a capital raise

Recommendation to Investors in SA

In our analysis, we noted that there is a very low number of deals made by the Venture Capitalists. This should be a cause of concern. Investors in SA should conduct a thorough analysis on the lost opportunities for want of more women as entrepreneurs. Investors should conduct seminars to promote female workforce to participate in business. The seminars should call women to explore entrepreneurial activities as an opportunity to gain extra income. In our analysis, we found that women have found that security of stable income is the biggest hurdle for these women entrepreneurs in Australia. The investors should help women in raising money as corporate social responsibility to boost women participation in entrepreneurship in the state of SA. Lesser venture capital related activity in SA is an opportunity for the investors to boost the economy of the state so that as more business is generated the investors are able to draw income from this untapped state of Australia.

Drawing parallels from the Entrepreneurship Programme for Innovation in the Caribbean (EPIC) funded by the government of Canada and the world bank: The government of Jamaica created an ecosystem of angel investors by collaborating with the government of Canada and the world bank to boost female entrepreneurs in Jamaica. Because of this programme , the female participation in business increased to 60% which is highest in the world today. The investors in SA should collaborate to create a similar ecosystem of angel investors whose primary focus is to boost female participation in business. This would help to grow the GDP of the state of SA as it is evident, and also mentioned in the current report earlier, that increasing the female participation increases the GDP by a significant factor. The investors would then be benefiting from the annual increase in the GDP of the state of SA.

Want to know more? Or get a hold of the report? Get in touch

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