As the business world is growing and welcoming more individual to explore different sectors, the challenge of gender-parity continues to persist. A new report by Justworks and The Harris Poll finds that more women are hesitant to explore the entrepreneurial field than men. Even with the fear of layoffs looming large, employed women still don’t prefer starting their own business.

Entrepreneurship has become the new normal in the global business world. This phenomenon has been popularized more so over the past decade due to the rise of problem-solving methods that enterprising businessowners keep looking for. Companies that begun as startups have now become big players in the market. Intending to help people find solutions for specific problems, the founders/owners are trying to build organisations that could solve the latter.

The ongoing conflict of gender disparity also plays a significant role in entrepreneurship because business has always been a man’s domain. However, women are coming to the forefront and establishing firms with skilled employees. Some are trying to hire all-women team in their companies whereas other support gender parity and employing men and women, both while managing to give equivalent remuneration and growth opportunity.

The rise of women’s entrepreneurship also helps to balance the global economy while transforming the stereotypical society that still exists in several parts of the world. Nevertheless, somewhere women still hesitate to start their own business due to numerous factors.

Step towards Entrepreneurship

Justworks and The Harris Poll recently releases the ‘Rising Entrepreneurs: Pathways to Small Business Formation’ report stating that women are still lagging somewhere to start their business whereas men are more likely to take up entrepreneurship. Disregarding the gender, the report mentions 6 out of 10 employed adults show interest in taking up entrepreneurial activities for launching their own business.

After a year of surveying employed adults in the United States, the report has been published to measure the impact of ‘looming recession´ at work dynamics, specifically towards layoffs. In 2024, only 25 percent of employees are worried about lay offs due to the recession, which in comparison to 2023 is less. Last year, over 2 in 5 employees i.e., 42 percent were worried about getting laid off.

Moreover, considering the change in attitude in a year difference i.e., from 2023-2024, it has been found that entrepreneurship is coming to fruition this year.

Women in Entrepreneurship

According to the report, Men are more likely to step towards starting their business acquiring 24 percent while only 14 percent of women express interest for entrepreneurship. On the contrary, 26 percent of women respondents showed no interest for entrepreneurship in comparison to men with 16 percent. Considering employed women, 20 percent of them perceive that naught would help to confidence building for starting a business as compared to 16 percent of men.

Data Findings of the Report

After the successful survey, the report revealed that 73 percent of women think that anyone can become an entrepreneur, if desired. Employed women’s 52 percent in the report are very/somewhat interested in venturing for their own business while on the other hand 67 percent women of age between 18-34 are very/somewhat interested in comparison to the 64 percent having age 25-44 and 44 percent of age 45-54.

Besides interest, financial issue also plays a role in entrepreneur, exemplifying 36 percent employed women cited for the same and 30 percent stated about not knowing where to begin.

Additionally, 66 percent employed women from 18-34 age group feels confident with regard to starting and running their business successfully in contrast to 73 percent with 35-44 age. For the fact that starting a business is risky, has been agreed by 90 percent of employed women.

Report Inference

In the final analysis, women don’t look much interested in starting their own business due to lack of information, finances and risk factor of entrepreneurship. Employed women continue to do their jobs even with the fear of being laid off but consider entrepreneurship even riskier. Men, on the other hand, are anticipating to become business owner or entrepreneurs rather than living with the constant fear of layoffs.