Code V tekenmoment
Code V tekenmoment

More female entrepreneurship makes sense not only socially but also economically

Being seen as a legitimate and potentially successful entrepreneur in society. By definition, this is still more difficult for women than for men, says associate professor of Entrepreneurship Caroline Essers. ‘37% of all entrepreneurs in the Netherlands are women. Then it is only sensible for financial institutions to make their systems and products more female-friendly.’

These are just two examples of what women entrepreneurs run into in their daily lives: they are successful with their businesses but don't have the possibility to make serious networking calls. Or they submit the same business plan to the bank as their male equivalent and still do not get start-up capital. ‘Entrepreneurship is generally a rather masculine domain’, says Essers. ‘A domain that mainly represents white heterosexual middle-aged men. And that is not only a missed opportunity socially and economically’, says Essers, ‘it can also become improper and unethical.’ Essers: ‘If masculinity consciously or unconsciously dominates financial support or access to networks, it also contributes to exclusionary mechanisms. And that is problematic.’

You say: entrepreneurship is a fairly masculine domain. What does that look like?

‘By that, I mean the generally typical masculine characteristics, such as communicating in planful language, wearing conventional and business attire, keeping work and private life separate, joining the 'old boys network' and putting financial and individual success above the collective. These characteristics, unlike more feminine behavior, are usually more expected in entrepreneurs who are seen as successful. By definition, this makes it more difficult for women to be treated and judged equally as entrepreneurs as men. So successful women tend to be those who show just enough femininity, but also enough masculinity: a bit tough, rational, not too extroverted, and not too 'exotic'. There's a certain discrepancy in that, so you can never really get it right as a woman. I find that very unfortunate.’

Caroline Essers in entreehal EOS

Unfortunate

‘Yes. You are asking those women to adapt to the male norm in entrepreneurship. As a result, women quickly think: we just have to adapt, be resilient, ask for coaching and reflect on our behavior ad nauseam, otherwise we will never be successful. And that is quite tiring. While I am convinced that those inequalities women feel are still in the systems themselves. Because it is well established in history that the labor market and the financial market have been dominated by men. And then it makes sense that financial services and the products that come out of it are geared towards masculinity.’

In addition, we see that the people who ultimately decide on capital allocation are still regularly men, and often go for people who look like them in their decisions. That's just how it works in practice, we call it in scientific terms ‘homophily in social networks’. But we have to be aware of this, and this has to change now. That banks start looking more outside the box in lending. After all, entrepreneurship also involves innovation and creativity. People inextricably include their cultural identity, sexuality and age in that creativity. Not only in their products or services but also in their entire business operations. So then you end up with a much richer entrepreneurial landscape.’

ABN Amro ondertekening Code V

You are part of the public-private partnership 'Code-V', to accelerate and encourage funding in female entrepreneurship. What do you think that will achieve?

‘On 12 December, more than 65 financial institutions in the Netherlands signed this code. This will hopefully contribute to a bit of improvement in the system because it creates more awareness in the entrepreneurial field. Because the moment they sign, these organizations will naturally be under a magnifying glass. They will have to make their internal practices more inclusive and their financial products more female-friendly. In their assessment process for (seed) capital, for instance, but also in how they do business in general. We know from research, for instance, that women and therefore women entrepreneurs want to be contacted differently to become customers of banks than men.’

What would you like to say to women entrepreneurs who face barriers now?

‘It's a cliché, but I would say: believe in yourself. Unfortunately, women feel they have to adapt because otherwise, they cannot be successful. I would advise them to question the system, be openly critical of it, and don't be afraid. Be aware that you will occasionally run into stumbling blocks, and that this is neither fair nor fun, but don't let that stop you. If you want to be an entrepreneur, you can do it!

And finally: it's not about conflict between men and women. Gender is about male and female, masculinity and femininity, and it can be in both men and women. Nor is it that anyone is necessarily to blame for the problems women face. But things need to change now. So please, let's be more open to diversity and inclusiveness because it only makes for more economic growth, labor market participation and integration. So let's embrace it!’

Photos: BLINK fotografie and Duncan de Fey

Text: Annette Zonnenberg

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