Gender Challenges in Entrepreneurship: A Community Women's Perspective

For such a significant day as today, International Women's Day, we want to open a discussion about why women struggle to take risks and, consequently, become entrepreneurs. For example, a study conducted by the University of California, Berkeley, found that women were more likely than men to choose less risky options in a range of economic scenarios.

But before we dive into this topic, let's give a brief background on how and when this date came about.

The origin of International Women's Day , formerly called International Working Women's Day, dates back to 1910 and was first celebrated in 1911 in just 4 European countries, but it arrived in Spain in 1914 . March 8 was the moment when the first feminist protests took place, which began the demand for equal rights between the genders in the world of work. From this moment on, society had a turning point, as women demanded the right to vote, the right to hold public office, the right to work, vocational training and non-discrimination in the workplace.

That's why this day is so special, because it was the date that planted the seed of visibility, the integration of women in the business world, and, most importantly for us as a community of entrepreneurs, female entrepreneurship.

According to the 2023 Global Entrepreneurship Monitor (GEM) study , women entrepreneurs tend to focus on businesses that have a positive social or environmental impact and focus on offering services to the end consumer, while men tend to focus more on technology projects and services for other companies.

To date, numerous studies have been conducted, and we can now find a wealth of interesting information about female entrepreneurship in Spain. Below, we'll review some of the most relevant data on this powerful combination of women and business:

• In the last 10 years, according to the Global Entrepreneurship Monitor (GEM) Special Report on Female Entrepreneurship , the gender gap in Spain has been reduced by 36%.

• The 2017 GEM Women's Entrepreneurship Report indicates that the rate of female entrepreneurship increased by 10% worldwide , and that innovation skills are 5% higher in women than in men.

• On the other hand, the 2022 Entrepreneurship Map prepared by South Summit shows that Spain is the country with the highest percentage of female entrepreneurs and, therefore, women in Spain represent 20% of the ecosystem.

During a conference organized by CISE, Ingrid Vanderveldt, an American entrepreneur and leader of the "Empowering a Billion Women by 2020 (EBW)" movement, shared an interesting observation about gender differences in the entrepreneurship ecosystem. According to Ingrid, men often jump into starting companies without waiting for all the necessary resources or information, while women tend to seek to be fully prepared and have greater knowledge of the subject before taking action .

We discussed this with the entrepreneurs in the Tetuan Valley community and asked them what they think and what they would say to other women just starting out:

1. NAZARETH RODRIGÁÑEZ - Co-Founder of POiN

“When I decided to start a business, I did so with a woman I admire. Together, we imagined and developed a project with its own unique voice. We always surrounded ourselves with people who added value, but we emphasized that key positions should be held by women: our CTO, myself as CPO, and my partner as CEO, making decisions and mastering the 'languages of entrepreneurship.'”

Unfortunately, and this was a few years ago, we encountered reactions that would have been very different if the same project had been shared by a man. That's why I think there's still work to be done. Entrepreneurship isn't for everyone, but if you have an idea and a lot of desire, surround yourself with other women, find forums where you can learn and share your experiences, and trust your instinct more than what you're supposed to do. The most authentic entrepreneurs I know are women, and we need more of them. Go for it!

2. VITORI HERNÁNDEZ - Founder of Intrepit

“A few years ago, I decided to start my own business, and, naively, I was struck by the fact that the majority of business associations were men. As time goes by and you understand, you realize there's an underlying social issue, an educational issue. At first, when you start a business, it's a leap into the dark; you don't know what you're going to find. And for us women, who need a certain level of security, it's even more daunting.”

On the other hand, there's the economic issue. For me, there are two sides to this, since we women have less purchasing power (I refer to the data: 12.2% less hourly wage than men) and we haven't been educated to deal with economic issues. Businesses are built to make money; we shouldn't be afraid to talk about it. We have to put numbers on the table and raise funding. Finally, allow yourself to fail; we're not Superwoman. It's okay if we make a mistake, because if you're an entrepreneur, you have to allow it.

As I've said before, all of these topics seem educational to me, so if you're thinking about starting a business—go for it. If I've learned how to do this, I'm sure you can too. When you start a business, you feel a special sense of pride, seeing how everything fits together, how it grows. I also deeply believe that we are going to create more sustainable and collaborative businesses... the businesses that society needs.

3. MARIA AZOFRA - CEO and Co-Founder of Sharpei

“Only 1 in 3 businesses worldwide is founded by women, and in my opinion, this low figure is due to imposter syndrome, which generates doubts about one's own abilities and contributes to a lack of confidence among women. Another point is that we have almost no female role models in the business world, and, for a change, education and gender stereotypes don't help either.

As a message, I would say that nothing and no one should tell you that you can't do it. On the contrary, every time someone tells you that you can't do it, transform it into energy to prove them wrong. Believe in yourselves, seek support from other women who inspire and empower you.

Every challenge is an opportunity to grow and learn. Dare to fail and you'll discover your incredible ability to achieve whatever you set your mind to. Go for it and show the world what you're worth!

4. LUCIA CLIFFORD - CTO and Co-Founder of Sharpei

"I think women are more analytical and consider all the variables before making decisions, while men are more impulsive. Women tend to come from lower salaries, which means less savings, and they usually have motherhood in mind or already are, which makes the decision even more complicated.

For all those who are hesitant to launch their own project, I would say that entrepreneurship is a difficult but very rewarding path, one that allows for better work-life balance than almost any other job, and that businesses led by women have a higher success rate. But the best advice for any entrepreneur is to understand the problem and the sector well before launching.”

5. ISABEL HERNANDEZ RUIZ - CEO of Shaadow.io

“It's crucial to work toward a society in which all people, regardless of gender, have the courage to take risks to achieve their goals. Each of us has the ability to help break down any social, cultural, and psychological barriers. Believe in yourself and embrace failure as a step toward success. Imagine yourself on your last day of life. Would you regret not trying? That would be a true failure.”

6. CARLA CABELLO LÓPEZ - CEO and Founder of Cresory

“I think it's a reality. In my daily life as a founder, I went to forums, events, and meetings where women were the minority. I think it's something that will gradually change as women have more options within society. I also think it's very important for men to support that small percentage of women so that we feel braver and dare to take the plunge and believe in ourselves and our projects. As more women become role models or role models, more women will realize that it is possible to achieve a balance between personal and professional life. It's not easy, and no one has a magic formula, but it is a very enriching path.”

"Try it; everyone has their own unique way of being and working. Give yourself the opportunity to see if entrepreneurship is for you, and if it works for you, you'll be very happy with your decision. If it doesn't work for you, I assure you the learning experience is immense. I also always recommend having a strong support network, involving your family and mentors in your daily work; that will help you achieve great success."

7. MONTSERRAT SALAYET PRAT - CEO and Founder of Balko

“Entrepreneurship for women is deeply rooted in a personal project. This emotional connection makes it more difficult to take the plunge if you don't feel the project aligns with your principles and beliefs.”

8. SARA HERNANDEZ - CEO and Founder of Mogu

"I believe entrepreneurship is a crucial avenue for women's professional development, as it removes gender-based boundaries and offers an unrestricted opportunity for growth. I would encourage any woman with a strong ambition to pursue career development to consider entrepreneurship."

An important point I want to highlight is that, when starting a business, we often encounter teams made up predominantly of men, especially in technical areas. Personally, I come from a background in Law and Business Administration, and I have found it necessary to acquire technical knowledge to stay up-to-date in my venture. Although it may initially seem like a barrier, I have discovered that there is a wealth of information available, and with dedication and effort, one can acquire the necessary foundations. For example, I took a product course that gave me the foundation to communicate effectively with my team in their own technical language. Therefore, I encourage all women who face this situation not to view these differences as insurmountable obstacles, but as opportunities to grow and develop in any field they choose.

9. LAURA RODRÍGUEZ ÁLVAREZ - Co-Founder of Humara

“I read a study in which they monitored the movement of boys and girls in the playgrounds of several schools for a year. The boys occupied the central area while the girls were relegated to the outskirts of the playground.

My career has been spent in male-dominated industries, and this has been a constant reminder of the importance of paving the way for future generations of women, just as it was easier for me than for those who came before me.

If you're a woman thinking about starting a business but are hesitant, remember that your courage to step forward not only challenges these assumptions, but also paves the way for those who come after you. Embrace your strengths, challenge expectations, and contribute to a legacy of change. The game is yours.

10. LUCÍA MARTÍNEZ PRADO - CEO of Break-Event

“I think we women often feel like we have to be 100% confident to do something. We're also more critical of ourselves. The message I would give is that you have to take risks; it's the only way to achieve success in any aspect of your life. And if something goes wrong, you'll experience a huge personal and professional growth journey, something no business school will teach you.”

11. ROMIE CARILLO - Cofounder of Portfolink

In a world where social expectations and stereotypes have historically held women back, it's no surprise that some women are reluctant to fully realize their potential. Although the world has evolved to a place where women are accepted and empowered to excel in various fields, many of us still struggle with our fears and doubts.

If you're a woman who's been thinking about taking that leap but finds herself hesitant, here's a tip: FOCUS ON PROGRESS, NOT PERFECTION. It's perfectly okay to start from scratch and stumble along the way. The important thing is to take it one step at a time. Your journey is yours to navigate. Remember, you are a woman: you have the strength and resilience to navigate any challenge that may come your way.

In conclusion, we are very pleased with the promotion of female entrepreneurship, as this brings great value to the Spanish and global ecosystem. Every day we are closer to fully recognizing the talent and innovation of women in the business world.