How Bitcoin can Help Female Entrepreneurs Around the World
Becoming a female entrepreneur is both risky and socially “frowned upon” in this day and age. Most people assume that entrepreneurs are all males, which is quite a worrisome trend. For years, women’s rights activists have been advocating the need for more women in high business positions, and entrepreneurship is a prime example of women who […]
Becoming a female entrepreneur is both risky and socially “frowned upon” in this day and age. Most people assume that entrepreneurs are all males, which is quite a worrisome trend. For years, women’s rights activists have been advocating the need for more women in high business positions, and entrepreneurship is a prime example of women who want to accomplish something on their own.
Also read: An Introduction to the Cypherpunk Tale
Women in Charge of a Business: a Welcome Rarity
In the world of business, there is no task men can do better than women, and vice versa. Over the years, stereotypes have established themselves in the form of men making the business decisions, while women take care of administration. Nothing could be farther from the truth, however, as both genders are equally capable of filling any role within a company.
Women in business are no less ambitious than men, mind you. Everyone who wants to attain a higher position will fight for it, regardless of gender. One of the stereotypes is how women are more gentle and do not possess the conniving trait to put their foot down when it comes to applying for a better position.
The same stereotypes translate to the world of finance, where female entrepreneurs applying for a loan are turned down quite often. Not because their loan application is flawed, but because financial institutions don’t have enough faith in a woman’s capabilities to make it as an entrepreneur.
In the United Kingdom, that situation is about to change. In fact, the change is already happening, according to Start Up Loans. This government-backed funding initiative grants loans to female entrepreneurs in order to boost the economy of the United Kingdom. Not all of the applicants are women, though, but there has been a definite increase in female applicants over the past year.
Just last year, 37% of successful applications through Start Up Loans came from aspiring female entrepreneurs. This number is of particular interest, as the UK’s national average of women taking business loans is just 18%. By the look of things, Start Up Loans’ numbers could increase to as much as 42 percent for 2015.
It is no secret that female entrepreneurs tend to make this drastic business decision at a later age. Start Up Loans loan application statistics confirm this trend, as 43% of female applicants were in their 30s and 40s. Starting a business of your own can be done at any time, but women tend to jump into entrepreneurship at a later age compared to men. Whether or not this is good or bad is impossible to say, as any aspiring entrepreneur is an asset to society.
All in all, there is still a lot of potential female entrepreneurial talent being wasted right now. Women make up for 52 percent of the population in the UK, and only 18 percent of them take the gamble of starting their own businesses — after receiving loans from banks]. Now that Start Up Loans is becoming a popular initiative, that number will only increase in the years to come.
Bitcoin Business Angels to Boost Gender Diversification?
Bitcoin could offer a major boost to the number of female entrepreneurs around the world. If the statistics are factually correct, many aspiring female entrepreneurs around the world struggle to get a bank loan. In the United Kingdom, this situation is being addressed by a government-backed initiative, but this is not the case in other countries.
Business Angels active in the Bitcoin world always look for new and exciting projects, so why not look outside of the realm of virtual currencies as well? Doing so would boost Bitcoin awareness and acceptance, as the entrepreneur would receive funds in Bitcoin. Plus, should the venture become a success, it was Bitcoin-backed from day one.
Even within the world of Bitcoin and virtual currencies, there are very few women in higher-up positions. Granted, several companies are working hard to find proper female talent to fill their ranks. But an overall effort to push gender diversification in the right direction could go a long to give Bitcoin a positive spotlight in mainstream media headlines.
What are your thoughts on helping female entrepreneurs by using Bitcoin as a loaning method? Let us know in the comments below!
Source: Telegraph UK
Images courtesy of Start Up Loans, Shutterstock