WOMEN IN BUSINESS – FUND HER BIZ SUMMIT, WHAT DID IT ENTAIL?

August 13, 2024 15

The “Fund Her Biz” summit, hosted by TIE Events brought together women entrepreneurs, business leaders, and industry experts to discuss the pressing challenges and opportunities in the world of women-led businesses. The event was a hub of knowledge-sharing and networking, with various critical topics covered that are essential for the growth and sustainability of women-owned enterprises. Below are the key themes that dominated the discussions:

1. Access to Funding

One of the most significant challenges faced by women entrepreneurs is accessing funding. The summit dedicated substantial focus to this topic, with experts discussing the gender disparities in investment and financing. Sessions explored traditional and alternative funding sources, including venture capital, angel investors, crowdfunding, and government grants. Practical advice was given on how women entrepreneurs can better position themselves to secure funding, including the importance of financial literacy, creating solid business plans, and building strong networks.

2. Navigating Gender Bias

Gender bias in the business world remains a formidable barrier for many women entrepreneurs. At the summit, panelists shared personal stories of overcoming gender discrimination and offered strategies to combat bias in various business environments. Discussions highlighted the need for systemic changes in corporate culture and the importance of mentorship and support networks in helping women navigate and succeed in male-dominated industries.

3. Scaling Up Businesses

Scaling a business is a critical phase that many women entrepreneurs struggle with, often due to limited resources and support. The summit addressed this issue by exploring strategies for scaling up, including expanding market reach, diversifying product lines, and leveraging technology. Participants were encouraged to think big and plan for growth, with emphasis on the importance of innovation and staying competitive in a rapidly changing market.

4. Digital Transformation

In today’s digital age, mastering technology is crucial for business success. The summit featured sessions on digital transformation, focusing on how women entrepreneurs can harness the power of digital tools and platforms to grow their businesses. Topics included social media marketing, e-commerce, data analytics, and the role of artificial intelligence in streamlining operations. The discussions underscored the need for continuous learning and adaptation to keep pace with technological advancements.

5. Networking and Building Alliances

Networking was another pivotal theme of the summit. Participants were encouraged to build strong networks and alliances with other entrepreneurs, investors, and industry leaders. The importance of collaboration, rather than competition, was emphasized as a means of gaining new opportunities and support. Several workshops were dedicated to teaching effective networking skills, with live sessions allowing attendees to practice and make valuable connections.

6. Overcoming Imposter Syndrome

Imposter syndrome—a feeling of self-doubt and inadequacy despite evident success—was a topic that resonated with many attendees. The summit addressed this psychological barrier, offering insights on how to overcome it. Speakers shared their experiences and provided practical tips on building confidence, embracing success, and fostering a positive self-image. The discussions highlighted the importance of mental health and self-care in sustaining a successful business journey.

7. Legal and Regulatory Compliance

Ensuring compliance with legal and regulatory requirements is crucial for the longevity of any business. The summit included sessions that educated women entrepreneurs on the legal aspects of running a business, such as intellectual property rights, contract law, and tax obligations. The aim was to equip participants with the knowledge to protect their businesses and avoid legal pitfalls.

8. Sustainable Business Practices

Sustainability is becoming increasingly important in the business world, and the summit did not overlook this critical issue. Sessions on sustainable business practices highlighted the importance of incorporating environmental and social responsibility into business models. Entrepreneurs were encouraged to adopt practices that reduce their environmental footprint, promote social equity, and ensure long-term viability.

Conclusion

The “Fund Her Biz” summit was a significant platform for addressing the unique challenges faced by women entrepreneurs. By covering these vital topics, the event provided attendees with the knowledge, tools, and inspiration needed to thrive in the business world. As more women step into entrepreneurship, such summits play a crucial role in fostering a supportive ecosystem that empowers women to achieve their full potential.

COMPILED BY:

ELIZABETH MAINA