Image: iStock
Grit, community and technology helped local female entrepreneurs in recent years to break down barriers and make significant inroads in various industries. Education, skills, resilience, surrounding yourself with the right people all play a role in getting and staying ahead.
According to research, female entrepreneurship is an upward trend that is shaping post-pandemic employment.
Some of these dynamic women share valuable advice on how to navigate the entrepreneurial landscape and achieve success.
The journey of entrepreneurship can be challenging, but success can be built by investing time in understanding the intricacies of running a business and trusting your instincts.
“Having access to digital tools that will help build core business skills, such as financial literacy, are significant factors in the success of woman-led small businesses. In fact, according to Xero’s 2023 State of Small Business Report, the two most significant factors that helped small businesses survive and grow in the past year were technology (41%) and their accountants (28%),” says Carla Thiele, head of marketing at Xero South Africa.
Owning a small business in the South Africa can often be a rollercoaster ride but resilience is key to overcoming challenges and setbacks.
Mariaan de Kock, owner of Grit Accountants, a professional accounting firm in Pretoria East since 2009, knows this all too well.
“Our name, GRIT, represents what we believe and stand for: Strong character, passion, perseverance, initiative, resilience, tenacity and guts, all the characteristics that are essential for success as a female entrepreneur.
“What I learned very quickly is that things will get tough but you must have the grit to push through. Have the tenacity to not give up when you do not get your first pay check,” De Kock says.
ALSO READ: How support for women entrepreneurs can drive economic development
De Kock also advises that hiring the right people can make or break your business.
“At GRIT, we hire for attitude and train for skill. When the business started out, the influence on each other as a team played a major part in our journey. Having an energised, positive person beside you makes a huge difference, particularly in in the world we live in today.”
Connecting with experienced partners and mentors can also provide valuable fresh perspective and help you to navigate obstacles you might encounter on your journey.
“Networking is a critical component of startup success. By building a solid network of contacts, entrepreneurs can connect with people that can inspire and help them along the way, which will assist you when things get tough,” she says.
Even in mastering multitasking, entrepreneurship can be demanding and therefore it is important to maintain a healthy work-life balance.
Prioritise self-care, set boundaries and make time for your personal life to prevent burnout.
“Mental health and wellbeing have emerged as a clear priority for small businesses, with 99% noting its importance in the business, a 5% increase from 2022. Over half (53%) of respondents support wellbeing in the workplace by creating an open environment where everyone feels comfortable discussing and caring for their mental health,” says Thiele.
The journey of a female entrepreneur in South Africa comes with its own set of challenges and opportunities.
By leaning in on technology, continuously learning and embracing resilience, female entrepreneurs can make a lasting impact on their industries and inspire others to follow suit, driving innovation and economic growth in the process.
ALSO READ: These are the barriers women entrepreneurs face in SA
In today’s digital age, technology can significantly boost your business.
According to Xero’s research, nearly three-quarters (74%) of respondents say the importance of technology has increased in their businesses, with 43% reporting that tech has enabled them to reach new customers.
Depo Ogunruku, MD of Outsourced Finance, is a digital accountant who works with small businesses in South Africa.
She says that using a range of software and hardware solutions has helped her practice transform the finance function and empowered her team to unlock critical financial data for better decision-making.
“I am naturally drawn to technology and its capabilities. It is a passion that keeps me on my toes to learn and see where the roadmap is going. I am constantly looking for the evolution of the Internet of Things (IoT),” Ogunruku says.
“My computer science lecturer at university said women struggled with his course because we cannot think singularly in coding. Our permutation roadmap is broad and this actually became a Trojan horse for me for the course.
“I later realised the broad permutation ability of how female brains are wired to multitask and process multiple permutations in split seconds, is the driving focus behind the technology like AI that is advancing in our world today.
“I believe that it is not tech that will impact the future of women in business, but women entrepreneurs that will impact the future of tech that will change business,” she says.
Download our app and read this and other great stories on the move. Available for Android and iOS.
