The underrepresentation of women in entrepreneurship – HS Insider

While my peers grew up watching Disney Channel, nothing excited me more than watching hopeful entrepreneurs pitch their ideas on “Shark Tank.” However, even at a young age, I recognized there was something fishy about the show, and it wasn’t the billionaire sharks. But rather, it was the fact that only a small percentage of the featured entrepreneurs were women. Years later, I recognize that the disproportionate amount of female founders on “Shark Tank” is reflective of a much bigger trend in the world of business.

Although our society has made incredible strides in terms of equality over the past century, fields like business continue to perpetuate harmful gendered stereotypes that limit women’s ability to attain professional success and mobility.

According to the New York Times in 2017, women own 36% of companies in the United States, and are half as likely as their male counterparts to employ people and generally earn less revenue.

Due to their gender, women founders face far more obstacles than their male colleagues. Take for example, the fact that only 2% of venture capital funding went to women in 2021 despite the industry being valued at $238.8 billion.

In addition to the disparity in venture capital funding, women must continually fight for the resources that male-owned businesses take for granted such as diverse staffing.

A 2018 survey of 279 businesses by Inc. and Fast Company revealed “45 of these female-founded companies have no male employees at all.” The lack of male representation can be pinned on several factors, but ultimately, they all lead back to the idea that women aren’t equipped to be in control. 

While women like Lynda Resnick, Oprah Winfrey, and Susan Wojcicki have blazed a path for so many female entrepreneurs, we unfortunately still live in a world that does not favor women in business. In order to create greater equanimity in boardrooms, we, as a society, must address the harmful stereotypes and outdated behaviors that have been unconsciously woven into the fabric of American business practices. While diversity training seems like a fair place to start, it’s not enough. In order to impact long-term change, we must first increase female representation in business. 

As Forbes writer Karim Nurani explained in 2022, “When there’s more female representation, the chances of getting funding for women-led businesses increase.”

By providing equal access to job opportunities, funding, promotions, and mentorship, we can ensure that more females feel comfortable taking up space in business settings as well as other sectors such as tech and medicine. 

At the end of the day, boardrooms shouldn’t be shark tanks.