CHALLENGES FACED BY WOMEN ENTREPRENEURS IN HOBART, AUSTRALIA
Abstract
Purpose of the Study: Women entrepreneurs often encounter challenges related to access to capital, gender bias, and work-life balance when establishing and growing their businesses. The study sought to explore the challenges Faced by Women Entrepreneurs in Hobart, Australia
Statement of the Problem: The challenges faced by women entrepreneurs in Hobart, Australia, center around limited access to funding opportunities and investment, exacerbated by traditional gender biases within the local business ecosystem, inhibiting their ability to scale their businesses. Furthermore, the lack of comprehensive support networks and mentorship specifically tailored to the unique needs and experiences of women entrepreneurs in Hobart hinders their professional development and growth prospects. Work-life balance remains a persistent challenge as women often juggle their entrepreneurial ambitions with familial responsibilities in a society that has not fully adapted to this evolving dynamic.
Findings: While the study on the challenges faced by women entrepreneurs in Hobart, Australia, revealed a growing interest in entrepreneurship among women, it found that access to funding and investment opportunities remained a significant barrier, limiting their growth potential. The findings highlighted that gender biases and stereotypes persisted in the local business environment, leading to limited access to networks, mentorship, and business support, further impeding their success. Work-life balance was also identified as a prevalent issue, as women entrepreneurs often struggled to harmonize their professional and personal responsibilities, calling for more inclusive policies and support systems to address these challenges effectively.
Conclusion: In conclusion, the challenges faced by women entrepreneurs in Hobart, Australia, reflect broader global trends of gender disparities in the entrepreneurial landscape. The study underscores the urgent need for concerted efforts to address these challenges, including creating more equitable access to funding, challenging gender biases in business, and establishing comprehensive support systems tailored to the unique needs of women entrepreneurs in the region. Ultimately, fostering an inclusive entrepreneurial ecosystem in Hobart will not only empower women but also contribute to the overall economic development and innovation of the city.
Recommendation: To address the challenges faced by women entrepreneurs in Hobart, Australia, it is crucial to establish dedicated funding programs and initiatives that prioritize women-led businesses and provide equitable access to capital. Fostering mentorship programs, networking events, and educational resources specifically designed to empower and support women entrepreneurs will help break down gender biases and promote their success in the local entrepreneurial ecosystem.
Keywords: Challenges, Women, Entrepreneurs, Australia
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