From Potential to Action: Strategies for Supporting Female Founders in the Pre-Start-Up Phase

Abstract

In today’s global economy, the role of start-ups is recognized as crucial for a country's competitiveness. Creating a supportive entrepreneurial ecosystem is therefore essential to enable founders to realize their potential optimally. Notably, there is a significant gender disparity in start-ups, suggesting a vast untapped entrepreneurial potential among women. This research aims to enhance the utilization of female start-up potential by providing actionable recommendations, based on an empirical analysis of the pre-start-up process of (potential) female founders. Through a qualitative research methodology, this study investigates the factors influencing women's journey towards entrepreneurship, considering diverse biographies and life situations. Interviews with ten women showed the complexity of the pre-start-up phase and the necessity for a broad support system. The study identifies several key areas for action to foster female entrepreneurship. Firstly, increasing awareness and visibility of self-employment as a viable career path for women is crucial, requiring more female role models and media representation to challenge traditional gender roles and stereotypes. This could cultivate a natural inclination towards entrepreneurship and sectors with high start-up activity. Moreover, lessening the disproportionate burden of family responsibilities on women is essential, suggesting enhancements in childcare facilities and encouraging shared domestic duties. The research further suggests the implementation of support programs to reduce barriers and provide a realistic view of entrepreneurship, alongside the potential benefits of mentorship in both pre- and post-start-up phases. Women's risk-averse, cautious approach in the pre-start-up process often leads to hesitance in developing innovative projects. Encouraging a focus on market needs and early engagement with potential customers, alongside proactive network building, seeking co-founders, or outsourcing, can address knowledge gaps and reduce uncertainties, making self-employment a more attractive option. This study emphasizes the importance of a collaborative effort among various stakeholders in the entrepreneurial ecosystem to unlock the entrepreneurial potential among women.