Key takeaways from female founders, including finding the right support, tackling imposter syndrome, improving access to funding, and much more
Don’t let Covid widen the startup gender gap
Female founders continue to create and run some of the UK’s most innovative and successful startups. Yet there remains a distinct gap in the advantages afforded to female founders and entrepreneurs compared with their male counterparts - and Covid-19 threatens to widen that gap.
Tackle the causes of imposter syndrome
Imposter syndrome is the feeling that you don’t deserve to be where you are and lack the skills and experience to succeed. It can undermine the success or confidence of women in business and tackling it means being kind to yourself while also training investors to ensure they treat female founders equally and without discrimination.
Age doesn’t matter
Some founders struggle with confidence when starting out if they are in an older age bracket. More than 10 years ago, at the age of 50, Julie Robinson left teaching to start Move it or Lose it, which has grown into a national network of instructors delivering exercise classes to thousands of older people every week.
Just go for it
Women may be more risk-averse than men, so it’s important to have confidence, believe in your ideas and surround yourself with people who trust your judgment, says Mandy Powell, co-founder of The Goodwash Company and ex-Welsh international hockey player.
Get creative in lockdown
Following the disruption caused by the 2008 financial crash, many innovative businesses emerged — from Airbnb to Uber. And with more people stuck at home due to the pandemic, now is the time for women to develop their startup, says Mark Dowds, Managing Director at Anthemis Group.
Don’t think about failure
The risk of failure should not stop you from launching a startup, says Cathy Craig, CEO of INCISIV. When you launch a startup, you’ll progress, you’ll change, you’ll learn new skills, meet new people—all of which is personal development, so there’s nothing to lose.
Improve access to funding
The statistics clearly show that women are not being given the right sort of access to funding. Initiatives such as the Female Innovators Lab in New York are helping address the balance.