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How Australian Women Entrepreneurs are Overcoming Obstacles to Create Prosperous Companies

Women now run one-third of Australian companies, and the percentage is steadily rising. In addition to having higher levels of education than men, women are also more likely to innovate in areas such as environmental and social effect.

Nevertheless, there are still many obstacles that women entrepreneurs must overcome, such as a lack of funding, networks, opportunity, and resources. It’s evident that not enough is being done, or that rules have been implemented, to change the situation of women in startups and small enterprises.

In collaboration with Commonwealth Bank and CommBank Women in Focus, a new report delves into the potential benefits of giving women-led business initiatives considerable consideration, as well as how these obstacles might be overcome and where the opportunities are.

According to the survey, during the period of April 2024, the analysts collected over 1,000 replies from female entrepreneurs and business owners. The results show a wide range of experiences and perspectives from women all throughout Australia, but one pattern stands out above the rest: these enterprises are being driven forward by hope and tenacity. More than half of the respondents said they planned to hire new employees within the next year, and over 75% said they were looking to expand.

A remarkable 56% of respondents are committed to having a real influence in areas like care, health, social justice, and ending family violence, which is evidence of the potential of entrepreneurship as a force for good.

For the majority of women, however, inflation and the cost of living are making this more challenging; 74% of them cite these as their biggest obstacles to advancement. More than one-third believe that current government policies are hurting their company. Additionally, more than one in five are having trouble finding talent.
Barriers based on gender, such as prejudice from potential investors or unpaid care responsibilities, also add to the workload.
These kinds of increasing pressures are becoming more and more common for female founders daily, amidst worries about a worldwide crisis.
Speaking on a panel for the report, seasoned retailer, businesswoman, and CEO of Snuggle Hunny Julie Mathers adds, “With every challenge comes an opportunity.”

According to Mathers, “I believe that because you become laser-focused on your business, this is almost one of the best times to run a retailer or a business.”
“I believe there’s a great opportunity, and you will emerge really strong and ready to go if you can weather this pretty major storm we’re in right now.”

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