7 Ways a Businesswoman Can Overcome Challenges in 2024

In the dynamic landscape of modern commerce, your role as a businesswoman is both critical and transformative.

No longer confined within historical archetypes, women in business command leadership positions across industries, contributing to the growth of the global economy.

MANCOSA offers a Women In Business short course that teaches you to understand and fulfil the roles and responsibilities of executive board members and committees.

This article discusses the rise of businesswomen in South Africa, their everyday challenges, and how they can conquer these challenges with proper training.

The rise of women in business in South Africa

Your potential as a businesswoman is increasingly recognised and encouraged in South Africa.

The corporate landscape, which used to be historically male-dominated, has shifted to gender diversity. As a result, women are making significant strides in various sectors. They’re taking on leadership roles and contributing to economic growth.

The number of female entrepreneurs is on the rise in South Africa. Some of the main reasons for this include the following:

There’s a significant increase in “female necessity-driven entrepreneurship”: This refers to females who started a business because there were no better options for work.
Women undergo higher education entrepreneurial training: With more accessible access to higher education and programmes such as the Women In Business short course and other online business courses, more women are gaining the skills to fill executive positions and establish their own businesses.
More availability of small and medium enterprises (SME) venture capital: Venture capital financing can be highly advantageous for small and medium businesses since it gives you access to capital and resources that may otherwise be unavailable.

Furthermore, support structures and women in business networks, such as the Business Women’s Association of South Africa, also help increase your career and entrepreneurial opportunities.

One thing to note is that corporate South Africa isn’t just changing in numbers but also culture. More and more companies implement policies that nurture diversity and inclusion. In turn, this creates a change in mindset.

Your presence as a businesswoman has become integral to business innovation and decision-making processes.

Common challenges faced by a businesswoman in SA

In South Africa, women in business encounter unique challenges that can impact their professional journey. One significant hurdle you may face is gender-based discrimination, which can manifest in various forms, from wage disparities to limited access to senior roles.

Despite efforts to encourage gender equality, inequities, unfortunately, still exist in the workplace. Here are a few common challenges you may face:

Getting funding may be more challenging for you because of bias in financial services, leading to fewer opportunities for business growth and development.
Balancing work and family responsibilities often falls disproportionately on your shoulders, leading to a struggle for work-life balance. This challenge can cause career interruptions or slower career progression since family responsibilities usually take priority.
Networking and mentorship opportunities are crucial for your business success. However, you may find limited access to networks that are predominately male-oriented. This makes it challenging to find mentors within your field.
Cultural expectations can also play a big role in shaping the business landscape. You might confront stereotypical perceptions about leadership abilities or face scrutiny that your male counterparts are less likely to encounter. This stereotyping can affect confidence and may discourage you from pursuing entrepreneurial endeavours.
The prevalence of safety concerns for South African women may affect your mobility and the ability to attend networking events or meetings, especially after-hours, which is a critical aspect of business development.

How women in business can conquer challenges in 2024

Despite challenges in the workplace, whether as entrepreneurs or employees, there are actionable strategies you can take to excel in your career. Let’s explore these solutions in detail.

1. Set clear career goals

To progress in your career, you must establish objectives and plan a clear path to achieve them. This strategic planning lets you measure your progress and stay focused on your career trajectory.

You can set short-term goals, such as expanding your professional network with a specific number of people. You can also create long-term goals, such as obtaining a Bachelor of Commerce in Entrepreneurship.

2. Knowledge acquisition

Empower yourself and build your skills by pursuing educational opportunities. Participating in business courses tailored for women can increase your competitiveness, employability, and capability within your role.

These courses and learning programmes will build your skills and knowledge to be confident in your abilities and take on leadership roles — even in male-predominant companies.

3. Knowledge sharing

Collaborate and build a community that supports the growth of other businesswomen. Through sharing experiences and insights, you strengthen the collective capability of women in business.

So, try to build a community of other women in business and encourage frequent meet-ups so you can inspire and encourage one another to keep moving forward.

4. Networking

Advance your career by connecting with others, both women and men, in the business field. Networking can create new opportunities and partnerships that can help you boost your career or business to places that wouldn’t be possible otherwise.

5. Funding procurement

Overcome financial barriers by exploring affordable educational courses (such as those offered by MANCOSA) or seeking funds for business initiatives. Many avenues are available to support your financial needs in the business sphere, like SME South Africa.

6. Take responsibility for making changes

Challenge gender-based career barriers by using your influence to create change. Your active participation in shaping an equal workplace is crucial. To do this, you must encourage hiring diversity, review similar pay laws, and foster an open-minded company culture.

7. Learn effective communication skills

Develop the skills to express your thoughts clearly and manage conflicts professionally. Effective communication in the workplace is vital to empowering yourself and asserting your presence in the business environment.

This includes your verbal and written communication skills so you can convey messages effectively, regardless of the mode of communication.

Register for a women in business course

Your first step towards becoming a successful businesswoman in South Africa is a formal education that’ll enhance your skills and give you the knowledge and confidence to pursue leadership roles within companies or to build your own business.

MANCOSA offers a range of short business courses that’ll develop your skills, including the Women In Business short course designed to help you understand and fulfil the roles and responsibilities of executive board members and committees.