Three Hurdles in the Lives of Working Women
According to the Bureau of Labor Statistics, women are now the majority of the U.S. workforce (50.04 percent), excluding farm workers and the self-employed. While the number of working women is rising because of health care, retail, and empowered female consumers, there are still many challenges that females face in work. In many ways, they are still held back. We take a look at the three common challenges females must consider when working.
- Employed but with low pay
Although there are many women working in the service sector, which includes plenty of high-paying professions, many face low pay. The service sector also covers low-paying jobs, such as home health aides, which are predominately held by women. Some economists argue that workers who oversee or care for others, such as home carers and teachers, are underpaid relative to their social importance. Historically, we have undervalued care work when, in reality, it is incredibly important for everyone.
- Childcare balances
There is evidence that more women have been forced to choose more flexible work, which may be part-time or closer to home, because they need or are expected to provide care for their families. With the rising cost of childcare, women are choosing to opt for flexible jobs to avoid paying for care.
- Dealing with limited access to funding
Raising capital can be difficult for women-owned firms. A 2014 Babson College report found that less than 3 percent of venture-capital-funded companies had female CEOs. Women tend to more be conservative and don’t overstate projections, which can put off investors who think that every pitch has overinflated numbers. Therefore, they will provide funding at lower levels than expected. Fortunately, securing a loan to help your business has never been easier.
Building your business as a woman doesn’t have to be difficult. For more guidance on growing your own business, contact the Economic Development Collaborative. Conveniently located in Camarillo, California, we’re here to help.