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1800 877 741 Every Monday 6:30PM - Channel 31
What It’s Like for Women in Business

Good news for women entrepreneurs: there are more women owning their businesses in Australia, according to the latest Census published in 2016.

Compared to 2006 where only 31% of women were owner-managers, it has slightly increased to 33% today.

And growth is happening at a speedier pace than men, with the number of female owner-managers higher by 7.6% over the last decade compared to only 0.3% for men.

Global data also puts Australia at a great standing when it comes to supporting female entrepreneurs. According to The Dell research, both Sydney and Melbourne ranked 11th and 17th, respectively, among 50 cities for friendliness towards businesswomen.

While it’s certainly welcome news that there are more women entering the business landscape as leaders, is it a satisfying endeavour for them?

Data suggests that just 57% of women entrepreneurs are pleased with their lifestyle.

One likely reason for those who are unsatisfied is that running a business entails more effort without the guarantee of a bigger income.

In fact, evidence suggests that while businesswomen work 2 more hours than employees, they earn $1,028 weekly – just a few dollars more than $1,023 weekly income of employees.

Nonetheless, many women continue to pursue entrepreneurship, giving them greater autonomy than regular workers.

Time Well-Spent Means Striking a Balance

So, what does it take to make it as a woman entrepreneur?

Our interview with Karen Glass sheds light on this subject.

The founder and director of Time Well Spent, Glass is in the business of providing virtual accounts, customer service, marketing, and website design services for different companies.

Starting in 2009, she shares that finding a career that let her utilise her skills, while giving her the chance to care for her young family paved the way for her to pursue the business.

“I knew that I could add value to other people’s businesses,” Glass says, illustrating how she needed to make something of herself beyond being a wife and mother.

Such is an ongoing conundrum for many mothers: how to nurture both career and family life.

And like what many entrepreneurs face, Glass has had her fair share of challenges. From tough decisions about how to grow the business, to finding the time to do it all, she faced and overcame different issues.

She notes that taking a consistent and gradual approach helped her address challenges that came with juggling family and business.

For instance, she started with hiring just one staff and working at home. A prudent approach helped her grow the business, and she gradually added employees as it grew.

Concerning time, Glass says, “I did set myself some really good boundaries…balancing with enough downtime and family time.” Her planning and dedication to segment her time on both aspects of her life has certainly worked for her in the long run.

Glass lives by her company name after all – time well spent!

Are you aspiring to become an entrepreneur and want to become more financially savvy? Join us at Dollars With Sense and get tailored advice from professionals!