Entrepreneurs
Women Trailblazers: The Most Successful Female Founder in Every Country
If you are a female entrepreneur, it’s natural to feel like the odds are against you. After all, there continues to be a significant bias towards a male-leadership model, and investors still tend to be more cautious in their response to pitches from women.
You shouldn’t be put off by nay-sayers, though. If you’ve got a great business idea, it’s really worth persevering to make it happen. Despite the fact that only 15% of venture capital is invested in them, women-led businesses consistently offer a better return on that investment.
Women entrepreneurs out-perform their male counterparts in terms of revenue, in part because their motivations tend to be less profit-driven. With a more meaningful, customer led approach, greater interest in corporate social responsibility, and collaborative working culture, they are primed for greater overall success.
To celebrate the impressive achievements of women who are world leaders in startup business, BusinessFinancing have gathered data on the top female founders from country to country around the world.
Top 5 Women Startup Founders Around the World
The data shows that startup success is possible across a wide range of industries, with particular success in fintech and e-commerce. The self-made women with the highest levels of finance are spread across the continents. Lucy Peng’s online finance company Ant, which is based in China, has achieved a massive $22 billion in funding. No wonder she was named Forbes’ 35th most-powerful woman in 2016.
Hot on Peng’s heels is Rebekah Neumann, whose US-based real-estate company The We Company, which specialises in establishing collaborative work spaces, achieved a significant $19.5 billion. With the third highest funding of $9.9 billion, Singapore’s Tan Hooi Ling has revolutionised transportation with her Grab app, which connects drivers and passengers.
Innovating fintech to offer more personal finance services to smaller businesses, and creating a fairer personal lending platform, Kate Keenan (Judo Bank – Australia) and Victoria van Lennep (Lendable – UK) achieved similar funding levels of $1.4 and $1.2 billion, respectively.
Top Women Founders in Europe
In addition to Victoria van Lennep’s huge success in fintech with Lendable, the biotech and health industry is a thriving field for startups in Europe. Switzerland’s Ilise Lombardo has raised a $278 million fortune for the biopharmaceutical company Arvelle Therapeutics, specialising in treatments for disorders of the Central Nervous System (CNS). In Sweden also, Josefin Langerd got $348 million for KRY’s healthcare and digital health services.
Lifestyle systems and wellness are flourishing fields for women entrepreneurs in eastern europe. Anja Varnicic raised an impressive $127,054 for her mini indoor garden enterprise in Serbia, and Belarussians Luba Pahkovskaya and Natalia Bahar each raised $265,000 each for their wellness and fitness app, Verv.
Top Women Founders in North America
Women are making it big with e-commerce and business software in North AMerica. After Rebekah Neuman, Canada’s Michelle Romanov has raised $119.2 million for Clearbanc. The data also shows that community-focused startups are financially viable, with $100,000 raised by Marwa Alhaj in Panama for her security and communications software company, and $130,00 by Morgan Babbs, who is making a difference to low income houses with her solar solutions company, Colibri, in Nicaragua.
Top Women Founders in South America
Brazil’s Cristina Junqueira is pretty inspirational. Not only did she raise $1.1 billion for her finance company, Nubank, but she is also a vocal advocate for gender equality and inclusion in the world of business and finance. She clearly understands the benefit of being forward-thinking and how embracing diversity will attract new talent. No wonder she was listed twice as one of Forbes’ most powerful women!
Top Women Founders in the Middle East & Central Asia
There’s a lot going on for women entrepreneurs in this part of the world, with start up founders doing well in the fields of education (Lamia Tabbaa and Rami Kayyali at Little Thinking Minds in Jordan) and gaming (Rina Onur Sirinoglu at Peak Games in Turkey), as well as the usual finance and e-commerce.
Making a significant difference to the field of biotech and health, Miri Ratner has raised $188M as co-founder of Yayar. Yayar developed a sensor that was initially intended as an early detection system for breast cancer, but has since found applications in robotics, intelligent vehicles, and security systems.
Top Women Founders in the Rest of Asia & Oceania
Of the top ten financial successes in this region, half were in the fields of fintech and e-commerce. As well as frontrunners Lucy Peng (China) and Kate Keenen (Australia), Japan’s Miku Hirano has made great waves with her AI company, Cinnamon. Hirano was inspired to create innovative solutions to improve working culture after the birth of her child. She envisioned how AI assistance in cumbersome tasks could facilitate a healthier future for future generations.
Top Women Founders in Africa
Of the 15 African countries included in the study, women have made strides across a wide range of industries. As well as the usual fintech and e-commerce, various services are focused on helping people in the community access health care, energy, and resources.
Audrey Desiderato has achieved great success, raising $81.3 million for her solar-energy Kenyan company, SunFunder, while Alima Bawah’s Cowtribe made $1.7 million to provide farmers with animal vaccines in Ghana, and Brenda Katwesigye raised $800,000 for WaziVision to provide recycled glasses to people in Uganda.
From finance to farming, there’s more to building a successful startup than money. Women entrepreneurs have a talent for seeing how business affects people, and that makes a big difference.
Entrepreneurs
How Entrepreneurs Are Harnessing LLCs to Launch Successful Startups
LLCs have unique advantages for starting up and growing a successful business
In my entrepreneurial journey, I’ve learned that LLCs have unique advantages for starting up and growing a successful business. But, before delving into the advantages, it’s essential to grasp the fundamentals of what an LLC is and how it operates.
What is an LLC?
An LLC is a hybrid business entity that combines the liability protection of a corporation with the pass-through taxation of a partnership or sole proprietorship. This unique blend provides entrepreneurs with the best of both worlds: personal asset protection and simplified taxation.
One of the most significant advantages of an LLC is its limited liability feature. This means that as the owner, my personal assets are shielded from any liabilities or debts incurred by the business.
In the event of lawsuits or financial obligations, only the assets of the LLC are at risk, offering me peace of mind and protecting my personal wealth.
Advantages of Forming an LLC
Flexibility in Management and Structure
Another aspect of the LLC that appealed to me was its flexibility in management and structure. Unlike corporations, which have rigid hierarchies and formalities, LLCs allow for a more relaxed approach to governance. As the founder, I have the freedom to structure the company in a way that suits the needs and goals of my startup.
For instance, LLCs can choose to be managed by their members (owners) or appoint a manager to oversee operations. This flexibility enables me to maintain full control of the business or delegate management responsibilities to trusted individuals while retaining ownership.
Additionally, LLCs are not bound by strict meeting requirements or extensive record-keeping obligations, reducing administrative burdens and allowing me to focus on building and growing the business.
Pass-Through Taxation and Financial Efficiency
One of the most attractive features of an LLC, particularly for startups, is its pass-through taxation. Unlike corporations, which are subject to double taxation (taxation at both the corporate and individual levels), LLCs pass profits and losses directly to their members’ personal tax returns.
This tax efficiency not only simplifies the filing process but also allows for greater flexibility in managing cash flow and reinvesting profits back into the business. As an entrepreneur, minimizing tax liabilities and maximizing financial efficiency are critical components of long-term success, and the pass-through taxation feature of an LLC aligns perfectly with these objectives.
Enhanced Credibility and Professionalism
Establishing an LLC can also enhance the credibility and professionalism of a startup. Unlike sole proprietorships or general partnerships, which may be perceived as informal or less legitimate, an LLC provides a formal business structure that instills confidence in customers, investors, and partners.
By operating under the umbrella of an LLC, I can present my startup as a reputable and established entity, which can open doors to opportunities such as securing financing, attracting top talent, and forging strategic partnerships.
This enhanced credibility can be a significant advantage, particularly in competitive industries or when seeking to differentiate my startup in the market.
Protection of Intellectual Property and Brand Assets
For startups built around innovative ideas or unique intellectual property, protecting these assets is paramount. An LLC offers an additional layer of protection for intellectual property and brand assets, safeguarding them from infringement or unauthorized use.
By registering trademarks, copyrights, or patents under the name of the LLC, I can establish legal ownership and enforce my rights more effectively in the event of disputes or infringement claims. This protection not only preserves the value of my intellectual property but also enhances the overall stability and longevity of the startup.
Steps to Form an LLC
Let us now look at the general steps to form an LLC for your business:
Step 1: Choose a Name for Your LLC
Selecting a unique and distinguishable name is the first step in forming an LLC. Ensure that the name you choose complies with the rules set by your state’s LLC division. Typically, the name must end with “Limited Liability Company,” “LLC,” or an abbreviation of these terms.
Additionally, the name should not infringe on the trademarks of existing businesses.
Step 2: Designate a Registered Agent
A registered agent is an individual or entity appointed to receive legal documents, such as lawsuits or subpoenas, on behalf of the LLC. The registered agent must have a physical address within the state where the LLC is formed.
For instance, if you are forming an LLC in Texas, ensure that your registered agent has a physical address in Texas.
This role is crucial for ensuring that the LLC remains compliant with legal requirements and maintains good standing.
Step 3: File Articles of Organization
The Articles of Organization, also known as a Certificate of Formation or Certificate of Organization in some states, is a document that formally establishes the LLC. You’ll need to submit this document to the appropriate state agency, usually the Secretary of State or Division of Corporations.
The articles typically include basic information such as the LLC’s name, address, registered agent details, and the purpose of the business.
Step 4: Create an Operating Agreement
While not always a legal requirement, drafting an operating agreement is highly recommended for LLCs. This document outlines the ownership structure, management roles, voting rights, profit-sharing arrangements, and other important aspects of the LLC’s operations.
Even if you’re the sole owner of the LLC, having an operating agreement in place can help clarify expectations and prevent disputes in the future.
Step 5: Obtain an Employer Identification Number (EIN)
An Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify your LLC for tax purposes.
Even if your LLC doesn’t have employees, obtaining an EIN is necessary for opening a business bank account, filing taxes, and conducting other financial transactions.
Step 6: Obtain Necessary Permits and Licenses
Depending on the nature of your business and its location, you may need to obtain various permits, licenses, or certifications to operate legally. These requirements can vary widely from one industry and jurisdiction to another. Common examples include business licenses, zoning permits, health permits, and professional licenses.
In my entrepreneurial journey, the decision to establish my startups as LLCs has been instrumental in mitigating risks, optimizing financial performance, and positioning my ventures for long-term success.
By harnessing the advantages of the LLC structure, I’ve been able to navigate the complexities of entrepreneurship with confidence and resilience, laying the groundwork for a bright and prosperous future.
Entrepreneurs
Build a Strong IT Team with These Smart Hiring Tips
Without dedicated IT staff, your company may not be able to function as efficiently or effectively
The role of IT staff in your company is not only essential but also ever-evolving. As your business grows, so does the need for qualified IT staff and more robust recruiting solutions.
After all, from maintaining and troubleshooting the computer systems that keep your business running smoothly, IT staff also help employees stay connected and productive by providing technical support at all times. (more…)
Entrepreneurs
5 Important Legal Tips Every Entrepreneur Should Know
With a firm commitment to legal knowledge, you pave the way to grow your business sustainably
While creativity, drive, and strategic vision are paramount, integrating legal insight into your entrepreneurial toolkit can be a game-changer.
This comprehensive guide delves deeper into the five critical steps that can empower you to navigate the intricate legal landscape and propel your venture toward prosperity. (more…)
Entrepreneurs
6 Hacks to Boost Your Productivity as a Business Owner
To improve how much you get done each day, it’s smart to establish routines and use careful planning
Entrepreneurs are always looking for ways to get more done with the time and resources they have. Business owners can use clever productivity tricks to break these limits and make the most of their projects. (more…)
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