Women entrepreneurs are on the rise in India. As per the data of the sixth economic census, released by the Ministry of Statistics and Programme Implementation (MoSPI), almost 14% of the total entrepreneurs in India are women. It is an encouraging fact that entrepreneurial opportunities are finally opening up for Indian women.
However, they still have to face more challenges than their male counterparts to build and sustain a venture. Add to this the family responsibilities they are expected to perform, women entrepreneurs often find themselves struggling twice as hard as men to make their presence felt in the industry.
In this scenario, coworking spaces serve as a flexible platform where women can give wings to their entrepreneurial dreams. Shared workspaces help carve their niche in the business landscape in more ways than one. Here are 6 reasons why coworking is a better choice than traditional offices for women entrepreneurs.
6 Reasons Why Coworking Is Ideal for Women Entrepreneurs
- It empowers them
- It provides them with the right work environment
- It opens up networking opportunities
- It increases funding prospects
- It enhances the chances of finding a mentor
- It offers a proper business address
1. It empowers them
Women empowerment is a catchphrase all businesses use these days. Organizations spend their money and resources on initiatives that empower their female workforce. Despite such efforts, women are still not standing on equal grounds, even in India’s metropolitan areas. The existing work culture tends to favor men, and as a result, women often don’t get access to resources and opportunities as easily as their male counterparts.
Coworking contributes towards leveling the playing field for women. Unlike traditional offices that are often unfriendly or unaccommodating towards women, shared offices are spaces where women can work freely and unconstrained by gender stereotypes. It’s a crucial step towards creating inclusive, safe, progressive, and creative business communities where women can work without being looked down upon.
2. It provides them with the right work environment
Most people consider it a convenient option for women entrepreneurs to handle their business while working out of homes. After all, it helps them attend to their professional and familial commitments, doesn’t it? Well, the case is quite the contrary. Though working out of home does have its own benefits, it often leads to women compromising on the work front, undermining their ambitions, and missing out on opportunities.
A coworking space, on the other hand, has the right environment where they can concentrate on work leaving aside the worries of home and hearth. Also, if women entrepreneurs have a partner or a team of workers, a coworking space can be the right spot to sit as a team and brainstorm ideas or get their work done. Neighborhood offices offered by pioneers like The Office Pass (TOP) are also a viable option for women who want a professional space close to their residence. To know more about neighborhood offices, click here.
3. It opens up networking opportunities
Business events, seminars, and workshops are a part and parcel of almost every coworking space. Given that growth opportunities are not always the same for women and men, female entrepreneurs benefit hugely from networking platforms offered by coworking offices.
By being part of a coworking community, they get to meet professionals from different backgrounds. Women entrepreneurs can team up with the right kind of people and gain traction and form successful collaborations. Moreover, networking helps them remain updated on the latest trends and changes in the industry and create business strategies accordingly.
4. It increases funding prospects
When it comes to funding opportunities, women entrepreneurs are way behind in the race even today. As of 2019, women entrepreneurs in India were able to gain just 6.5% of the amount raised as funds among the best 150 sponsored start-ups. Time and again women founders have realized that when it comes to raising funds, they are treated as second-class citizens in the business world.
Lack of support, gender-based prejudices, and unequal access to resources are some of the main reasons why women entrepreneurs fail to get funding. This is where coworking spaces can offer a sliver of hope. Many coworking spaces are attracting an ever-growing base of investors who are open to the idea of tapping into the potential of women-founded businesses.
5. It enhances the chances of finding a mentor
According to a LinkedIn study, around 82% of women professionals believe that it is important to have a mentor in order to succeed. However, only a very small percentage of women can claim to have gained mentorship in their entrepreneurial journey.
Coworking spaces offer women the much-needed opportunity to seek out a mentor. They get a chance to reach out to seasoned entrepreneurs who are aware of the struggles and challenges women face in the business world. Mentors often share their knowledge, experience, and advice, which are invaluable lessons for women entrepreneurs who are trying to make it big in the highly competitive and regrettably biased entrepreneurship landscape.
6. It offers a proper business address
One of the first things people take note of women entrepreneurs is their business address. It gives potential clients an idea about where the company is based and how it functions. Conducting business activities without a proper office address might make the race harder than it is.
The best solution to this problem is to work out of a coworking space that provides women entrepreneurs with a proper business address. It will help them get off to a good start and also create a strong business identity.
The bottom line
In the world of entrepreneurship, the playing field is still uneven for women. However, coworking spaces can help them overcome some common problems faced by women entrepreneurs in India. At the same time, being part of the coworking community can help them stay motivated and inspired in their challenging journey.
If you are looking for a coworking space in South Delhi, Gurgaon or Noida that offers a welcoming and flexible work environment for women entrepreneurs, check out The Office Pass (TOP).