More women are starting their own small businesses in Australia than ever before, but they still face a number of challenges. If you are a female small business owner or are thinking of starting your own business, read on to find out some potential issues that you might face.

1. Limited Funding

Forbes.com says that female-owned small businesses are ‘amongst the leading ventures that lack financial support’. You need money to start a business and grow a business and this can be hard for women to gain access to.

2. Not Being Taken Seriously

Female small business owners, particularly those in male-dominated industries, can struggle to gain respect from their peers. This can lead to low confidence which can, in turn, impact the way a woman runs their business.

3. Balancing Work and Family

If you are a mother, sometimes it can be quite challenging to achieve a true work/life balance. Sometimes conflicting demands of work and family can lead to a female business owner choosing one over the other.

So, what can you do to overcome these challenges?

Creating a strong support network can help. Delegate family responsibilities and ask for help when you need to. Surround yourself with a network of female business owners to mentor you and collaborate with you. Also consider non-traditional ways of financing your business, like crowdfunding or government grants (I’ve written about how to finance your small business before). And if you are a female small business owner, it is a good idea to help build up your fellow female small business owner wherever you can.

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If you run your own small business, we can take some of the pressure off and handle your books!

Connect with us today to find out how we can help you.