As we look ahead to the new year, it’s clear that female founders in South Africa have the potential to make a significant impact on the business landscape.
According to a report by the Global Entrepreneurship Monitor, the rate of early-stage entrepreneurial activity among women in South Africa is higher than the global average. If you’re looking to capitalise on the untapped potential of the local female economy, have a look at the following tips to embrace change and transform your business:
Money Matters
One major obstacle female founders face is the lack of access to funding, which makes it incredibly difficult for them to scale and grow their businesses. Xena is tackling this issue head-on with network-enabled, data-driven business funding for fempreneurs.
Networking as a Catalyst for Success
It’s important for female entrepreneurs to focus on building a strong network of supportive peers and industry contacts. This could include joining local entrepreneur groups (like Xena) or attending networking events specifically for women in business. By building a network of like-minded individuals, female founders can gain access to valuable resources, advice, and inspiration.
Know your Numbers
We know – nobody wants to talk numbers. But a key step in transforming your business is to work on improving financial literacy. This could include taking a course on financial management or seeking out Xena’s free financial tools, templates and tips.
Work smart, not hard
We’re living in a digital age crowned by rapid advances in technology and AI. Learning how to automate, delegate, and minimise unnecessary tasks is key to prioritising what actually matters – building your business! Have a look at Xena’s incredible tool recommendations to start streamlining your systems in 2023.
Prioritise Mental and Physical Health
If there’s one thing that’s for sure it’s this: What’s good for your health is also good for your career success. While it’s important to remember that success as an entrepreneur takes time, perseverance, and a willingness to take risks, we need to acknowledge that it also takes consistency.
Building a business while going full-steam 24/7 will inevitably lead to burnout. Make a promise to prioritise yourself in 2023. You are your business after all.
You’ve got This, Girl!
It’s time to step into your potential. More and more, companies are becoming aware of the benefits of having a more diverse workforce and leadership. As a result, a growing number of companies are actively seeking out female-led businesses to work with.
Although female entrepreneurs in South Africa face many unique challenges, there are a number of strategies that they can use to empower themselves and transform their businesses in 2023. With the right mindset, a supportive network and the right resources, female founders in South Africa can break through barriers and drive their businesses to success!
Are you a female business owner looking to expand your network? Join XENA and start building your female empire today. The community is 100% free to all female South African founders. Apply by clicking on the JOIN XENA button in the upper right navigation.
