In November, the International Women’s Entrepreneur Day, a date dedicated to recognizing the importance of the work of women who not only dream of having their own profitable business, but who seek to break barriers to achieve it. According to the Association of Entrepreneurs of Mexico, in 2021, only four out of 10 (37%) ventures in the country are founded by women entrepreneurs. The number falls short compared to the number of men who undertake.
Why do women entrepreneurs fail?
No matter how much time, effort or money is invested, not all ideas end with success. Of the businesses founded by women, among the main reasons for failure are: lack of knowledge of the market (37%), lack of liquidity or lack of working capital (31%), poor business administration (27%), lack of availability of time (26%) and problems with partners or partners (24%), among others.
The data is hard, however, I think it can be seen as an opportunity to encourage us to review, understand and acquire learning that allows us to grow and expand the development of women-founded businesses. For example, making use of the tools that we find on the internet represents an option for female entrepreneurs to formalize and grow their businesses with the intention of reaching more potential customers.
To achieve this, I believe that it is essential that entrepreneurs know how to develop and manage their businesses on the Internet, in order to later expand their presence on the Internet and reach target consumers.
How can they achieve all of this and increase the chances that their companies will grow?
This is the question that we at Google have asked ourselves and to answer it we have generated tools that anyone can access. Take, for example, Google Primer, an app that features quick (5 minutes or less) and easy-to-understand lessons for learning accounting and budgeting, business planning, customer service, professional networking, and more. Also, through Crece con Google, they can access specialized lessons in digital skills that cover topics from planning to execution in different business topics.
Once the entrepreneurs manage to launch themselves into the market with greater certainty, it is essential to be present at the moment when people need their products or services to generate new business opportunities. For example, 82% of Latin Americans look for inspiration for their purchases in the search engine. Having a website is the way to make a first impression for consumers. A well-thought-out domain can make all the difference in increasing user interest and driving web traffic to the site, which will eventually lead to more sales. Our recommendation is that the web page be simple and easy to remember, that it contains keywords that connect with the offer and the interest of the people, as well as that it reflects the sense of the business. Through Google Domains, people can find more useful information.
Businesses founded by women entrepreneurs must be strengthened
Connecting with a greater number of potential customers is also important, but we recognize that the priorities are different in this type of business, which sometimes causes your marketing strategy to be different. marketing be placed in the background. However, there are tools that can be used to delegate the creation of ads that connect effectively with your target audience. With Google Ads Smart Campaigns, in 15 minutes they can create an ad that describes their business, select keywords and set a budget to automatically generate an ad that will be shown to potential customers, allowing female entrepreneurs to spend more time on other important tasks. of the business. Likewise, knowing the importance of the digitization of SMEs in our country, we recently collaborated with Fintech companies to offer exclusive financial and digital benefits, in order to continue promoting financial inclusion in this sector.
It is essential for the development of the economy that businesses founded by women continue to develop. According to Mckinsey data, if women around the world were empowered to contribute to the economy, they could add 26% to global GDP annually. It is important that together we know the existing tools on which we can rely and that through them we acquire the necessary resources and knowledge, while accessing the opportunities that the Internet offers to promote new businesses.
Fanny Ruiz Mijangos Fanny has a degree in marketing and within Google is part of a team that promotes social, cultural and economic growth in Latin America, which seeks to inspire and promote positive change.