It is trendy to tag female empowerment, and necessary to include gender diversity. In business, female entrepreneurship is getting attention for various reasons. Startups competitions are held specifically for female founders, causing not just the male counterparts to question whether it is fair.

When it comes to the discussion about fairness, it is often not just a simple measurement of equal opportunity per se. It is a statistical fact that a real funding gap exists for businesses ran by females. UBS has provided some shocking insights, including but not limited than the following:

• Despite statistics saying that women generate more than twice returns per dollar invested, top female founders raised less than a quarter of what their male counterparts raised.
• The companies founded by female are valued at only around 7% of those founded by male.
• Generally, 87% of top founders are run by all-male founding teams.

Without digging deeper into the assumptions behind these numbers, it may be a sweeping statement to say that it is unfair for women in business purely based on these statistics alone. The numbers are not direct proofs of unfairness. Arguments for choice and acknowledgment of gender differences would highlight that a 50-50 equal ratio is meaningless. But are the current proportion of representation the best it could be? The differences in societies and cultures seem to play a significant part in the ratios, which debunks the myth that gender differences are fundamental and natural.

Comparing across culture and society, it seems that there are room for improvement to invite more women into business and for them to perform better in business too. Education is key, but the receptiveness of the market seems equally, if not more, important.

From my personal experience as a serial entrepreneur, there are unique gender challenges in business and at work. Explicitly or otherwise, the capabilities and/or the professionalism of a female leader is often doubted by common prejudices and personal opinions. Honestly I have gotten quite frustrated at times during business networking that some men did not respect me as a businesswoman or professional lawyer and seemed to have some other agendas when they talked to me under the pretext of business. It was a waste of my time and energy, and that challenge seems quite common and more specific to women. Pitching was difficult too, given my soft-spoken nature. Investors would often associate that gentleness with weakness, judging me to be lacking in grit or leadership. Putting on a stronger front also backfired a few times. Men and women too, are put off by that style and considered it aggressive and unpleasant. Deduct points again, still no funding.

Of course, perhaps my business cases were weak to begin with. The super strong deals would still get funded regardless, that’s what they say. Putting female entrepreneurs through a harsher trial by fire could be the reason by the females eventually made higher returns than their male counterparts. But isn’t that just a justification for double-standard?

On the other hand, not all is lost for women. Being women provides unique opportunities too. Perhaps it opens doors more easily in a male-dominated world. It is true that during business networking, I often find it easy to begin a conversation with someone new because men generally approach me first. Although I seriously doubt any women would be really proud of that, especially in the business context. And given the growing trend of female-specific investments and business opportunities now, the playing field is being levelled by skewing opportunities in favor of women.

I cannot conclude from my personal experience whether overall it is easier to be a female entrepreneur or leader. It is also hard to generalize as the experiences vary across cultures and from person to person. While there are days I wish I was born a man (although I hardly understand the reality of being a man), most days I am happy being a woman trying my best in all that I do.

If life gives me harder lessons, I take it as the learning required for me to improve faster. If life is sweet and gentle to me, I accept it as the reward for not giving up.

Reference: https://www.ubs.com/global/en/wealth-management/women/insights/2021/funding-gap.html

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