By Dede WOBIL and Blessing Sarfo BOAKYE
Over the past few decades, there has been a growing trend of women becoming entrepreneurs and starting their own businesses. Women-owned businesses are on the rise globally, with many women entrepreneurs breaking new ground in traditionally male-dominated industries.
It is safe to say women are now leading businesses, driving innovation, and redefining leadership in many dynamic ways. As more women take on entrepreneurial roles, they bring fresh perspectives, prioritizing inclusivity, sustainability, and transformational leadership reshaping industries and societal norms and challenging traditional notions of power and success.
By breaking barriers, owning the boardroom, and never shying away from the leadership challenge, women are redefining what it means to be an entrepreneur. Thus, this article explores how women can be supported to elevate entrepreneurship leadership, foster collaboration, prioritize social impact, and leverage innovation to create lasting changes.
The concept of enterpreneurship and leadership
To us, entrepreneurship entails identifying opportunities, developing innovative solutions, taking risks and managing the related business vehicle for value. Entrepreneurship requires unique skills, including self-determination, self-motivation, and perseverance as entrepreneurs play an important role in economic development by introducing new products, services, and technologies.
On the other hand, leadership is the ability to guide, inspire, and influence a group of individuals toward achieving a common goal. Traditional leadership has often been associated with hierarchical authority, but modern leadership trends have shifted towards collaboration, the exercise of emotional intelligence, and adaptability qualities that many women entrepreneurs embody in their business ventures. Entrepreneurship and leadership are closely connected, with each reinforcing the other. To succeed, entrepreneurs must exhibit strong leadership by motivating teams, navigating challenges, and driving business growth.
Therefore, entrepreneurial leadership has become essential for startups and small businesses, demanding business owners acquire specific skills such as effective decision-making, adaptability, and team building. Undoubtedly, many entrepreneurs mistakenly equate being a boss with being a leader, but leadership goes beyond authority to include guiding and empowering teams. And without strong leadership skills, entrepreneurs may struggle to achieve their visions.
Traditional leadership and its problems
For decades, leadership has been defined by a specific set of traits, often framed through masculine stereotypes, emphasizing assertiveness, dominance, and a hierarchical approach. Leadership was typically structured in a top-down, command-and-control manner. This created a significant gap between employers and employees, as workers became disengaged, focusing more on their paychecks than the success of the company or venture thereby reducing the opportunities for creativity and innovation.
Also, the lack of women and other underrepresented groups in leadership positions meant that diverse perspectives were often missing from decision making processes. This has led to a narrow focus and a lack of understanding of the needs of a diverse workforce or customer base over time.
How women entrepreneurs are redefining leadership
Leadership styles vary widely in business, directly influencing a company’s success and sustainability. Regardless of the business size, effective leadership is important. As women gain prominence in various industries, their leadership approach is becoming a significant outlook for entrepreneurship. Their distinct management styles are reshaping leadership norms and may even give them a competitive edge over their male counterparts. Some unique perspectives women bring on board include:
- Leadership through inclusivity and diversity: Women leaders actively create opportunities for marginalized groups and advocate for workplace diversity. A perfect example in Ghana is Patricia Obo-Nai who as the first female CEO of Vodafone Ghana, advocated for gender diversity in the tech and telecom industry. She spearheaded initiatives that promoted women in STEM and created programs which supported young female professionals.
- Leadership by prioritizing social impact over profit: Women entrepreneurs integrate social responsibility into their business models, ensuring they contribute to societal change. A clear example in Ghana is Angela Kyerematen-Jimoh, the first African woman to become Regional General Manager for IBM Africa. She has actively championed digital inclusion and tech-driven economic empowerment programs for young entrepreneurs and women in Ghana. Again, Comfort Ocran, as a co-founder of Legacy & Legacy and Springboard Road Show, goes out of her way to provide leadership training and career development programs that empower young women professionals and aspiring entrepreneurs.
- Leadership through collaboration over hierarchy: Studies have shown that women tend to be more collaborative and inclusive in their leadership styles, valuing diverse perspectives and fostering a sense of teamwork. Ethel Cofie, founder of Women in Tech Africa and EDEL Technology Consulting promotes collaboration among women in technology. She provides mentorship, networking opportunities, and resources to support female entrepreneurs in the digital economy. She is known for creating the largest Women in Tech group in Africa, spanning over 30 countries.
- Leading with emotional intelligence and empathy: Women often demonstrate a greater degree of emotional intelligence, which allows them to connect with their teams on a deeper level. This leadership style enables them to understand the needs and motivations of their employees, creating a more supportive and nurturing work environment. This, in turn, can lead to higher levels of job satisfaction and reduced employee turnover. Dr. Mrs. Ellen Hagan, founder and executive director of L’AINE Services Complex, a human resource consulting firm that focuses on inclusivity and professional development showcases empathetic leadership in more ways than one.
- Redefining leadership through flexibility and adaptability: Another significant shift is the move away from traditional hierarchical structures. Women are often more inclined to create flatter organizations where everyone feels empowered to contribute their ideas. They often champion flexible work environments and hybrid models, allowing employees to thrive without constraints. This decentralized approach can foster a sense of ownership and accountability, lead to greater agility and responsiveness to change.
Challenges faced by women entrepreneurs
Despite progress, women entrepreneurs still face challenges rooted in societal norms, financial constraints, and structural inequalities, making it harder for them to succeed in business. Here are some challenges women constantly encounter:
- Gender bias and stereotypes: Many industries still uphold outdated leadership ideals, making it difficult for women who challenge these norms. They often face resistance, skepticism about their competence, and bias from investors and stakeholders who tend to favor male-led businesses, creating significant barriers to funding and recognition.
- Limited access to funding: Research overwhelmingly reveals a glaring disparity in venture capital funding, with female entrepreneurs receiving only a fraction of what their male counterparts secure. Women are often forced to jump through endless hoops, tirelessly proving the viability of their business models to investors who, despite their claims of impartiality, deeply underestimate women’s leadership potential. The uphill battle for funding is not just a challenge it is an exhausting, relentless fight against ingrained biases that continue to plague the entrepreneurial world.
- Work-life balance expectations: Women are expected to juggle the immense demands of business leadership while simultaneously bearing the weight of family and caregiving responsibilities, a pressure that male entrepreneurs rarely experience. In a society like ours, deep-rooted cultural expectations make it even more difficult for women to fully commit to the gruelling hours and sacrifices required to scale a successful business.Top of FormBottom of Form
- Lack of mentorship and networks: Many leadership and business networks are still male dominated, this creates an almost impenetrable barrier for women seeking mentors, sponsors, and influential allies. The lack of access to these exclusive circles not only isolates women but also severely limits their chances of securing game-changing collaborations, funding opportunities, and strategic partnerships. Without a seat at the table, women are forced to fight for scraps in an environment designed to keep them on the sidelines.
- Underrepresentation in certain industries: Industries like technology, energy, and finance remain strongholds of male dominance, with few women in leadership positions. This glaring imbalance makes it incredibly difficult for aspiring female entrepreneurs to find role models, mentors, or even a clear path into these sectors. In these male-dominated arenas, women are often forced to prove themselves over and over again, facing relentless scrutiny and skepticism, as if their expertise and ambition alone are never enough to earn credibility.
Recommendations to address challenges faced by women entrepreneurs
Closing the gap for women entrepreneurs requires bold action, as their challenges stem from deep-rooted systemic barriers. Overcoming these obstacles demands fearless advocacy, strategic reforms, and a shift in mindset to reshape the future of entrepreneurship. Here are key recommendations to drive this transformation:
- Expanding access to funding and investment opportunities: One of the greatest obstacles holding women entrepreneurs back is the disparity in funding. Despite their groundbreaking ideas and undeniable potential, women led businesses consistently receive less investment than their male counterparts. To bridge this gap, dedicated financial interventions are crucial. Women-focused funding initiatives, such as grants, venture capital funds, and microloans, must be established to support female-led enterprises. Beyond funding access, financial literacy training is essential. Equipping women with the skills to craft compelling business pitches, negotiate deals, and attract investors will empower them to secure the resources they need to thrive.
- Strengthening business education and skill development: Education is the great equalizer, and when women are given the tools to sharpen their entrepreneurial and leadership skills, they do not just enter the business world, they redefine it. To truly empower women in entrepreneurship, we must invest in their education, mentorship, and skill-building at every stage of their journey.
This can be done through entrepreneurship and leadership training programs tailored specifically for women whiles developing robust mentorship and coaching programs that bridge the gap between aspiring female entrepreneurs and seasoned business leaders, CEOs, and investors. Also, STEM (Science, Technology, Engineering, and Mathematics) education for young girls must be encouraged to increase female participation in high-growth and innovation-driven industries such as technology, energy, and finance fields traditionally dominated by men.
- Fostering a culture of confidence and empowerment: For far too long, women have been conditioned to shrink their ambitions, downplay their successes, and second guess their potential. This deep seated doubt does not just affect individual women it stifles innovation, limits economic growth, and prevents industries from benefiting from diverse leadership. One of the most effective ways of breaking this vicious cycle is to launch large-scale empowerment campaigns that challenge outdated societal expectations. These campaigns should spotlight women who have defied the odds, proving that leadership, risk-taking, and success are not defined by gender. By seeing more women in positions of power, aspiring entrepreneurs gain the courage to step up and shatter their own limitations.
Conclusion
Women entrepreneurs are no longer just participants in the business world, rather they are pioneers and architects of a new leadership paradigm. By breaking barriers, challenging traditional norms, and leading with innovation, resilience, and inclusivity, they are reshaping the definition of leadership itself.
Despite persistent challenges from funding gaps and societal biases to balancing business with family responsibilities, women continue to defy the odds and carve out space in industries that were once male dominated. With increasing access to mentorship, education, and investment opportunities, they are shattering ceilings, rewriting the rules, and paving the way for future generations. The future of leadership is no longer confined to traditional power structures. Women entrepreneurs are proving that leadership can be bold yet compassionate, profit-driven yet socially conscious, ambitious yet inclusive. As more women rise to the forefront of business, they are not just changing industries they are reshaping the world for the better.
>>>Dede Wobil is an Associate at Sustineri Attorneys PRUC (www.sustineriattorneys.com). Dede specializes in Corporate and Commercial Transactions, Sustainability, Environmental, Social, and Governance (ESG) Advisory, Natural Resource & Renewable Energy, and Dispute Resolution. She welcomes views on this article via [email protected]
>>>Blessing Sarfo Boakye is a Trainee Associate at Sustineri Attorneys PRUC (www.sustineriattorneys.com). Blessing specializes in Corporate and Commercial Practice, Energy Law, Dispute Resolution, and Intellectual Property. She welcomes views on this article via [email protected]
