Monday, July 22, 2024

7 Crucial Areas Where Women Entrepreneurs Require Advanced Technology Assistance for Expansion

Many business groupings, banks, NGOs, and women’s empowerment groups are working to enable and promote women entrepreneurs. Aid focuses on improving access to cash, networking, and business skills.

Unfortunately, there is little assistance available for female entrepreneurs in terms of digital literacy and technology adoption.

Women entrepreneurs face additional barriers to getting banking services and applying digital transformation to increase business efficiency.

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Women business owners in low-income urban areas and rural areas suffer the most from discrimination because of their gender.

Women business owners need help with technology in areas such as:

1. Financial technology  

Not many business owners have an investor or financier. So assistance with financial technology such as payment gateways, app-based payments, cyber security, and data protection should be provided. 

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2. Cloud computing and data storage, analysis and privacy 

Cloud computing is a cost-effective and efficient method for data storage, sharing, and management. Its extra benefit for start-ups and MSMEs is the low or little CAPEX it provides, which aids in cost reduction. 

3. Modernization of legacy applications 

By laying down the right foundations and putting in place modern infrastructure, women entrepreneurs will be able to stay ahead of the competition. Additionally, they will take advantage of the new business opportunities that will come with 5G. 

4. Technology training and skill development  

Upskilling and reskilling workshops are best for upgrading tech teams’ competencies. There are a lot of tech companies that can build custom LMS to train their staff about their industry and domain.

5. Business process automation and optimization of technology processes 

When implemented and supported effectively, business process automation has achieved results that go beyond process improvement to process perfection. Automation eliminates manual labour and completes process activities effectively and efficiently.

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6. New product development 

With the proper professional, any new product may be developed on time. From ideation through UI/UX, development to release, many digital businesses can swiftly construct an MVP for funding. After the investment, companies can improve and maintain products. 

7. Building online portals and mobile applications

Establishing a presence online on one’s own or with an inexperienced friend or employee might backfire for fledgling female businesses. To develop a cost-effective and efficient digital identity, a new business needs the proper specialist.

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Richa Sharma
Richa Sharma
I am 26 years old, hailing from Shimla, Himachal Pradesh. I am a masters degree student and a poet by heart. I have been writing since childhood. Writing is my way of expression. One can find impressions of Hindi/ Urdu in my poetry. Apart from my love for poetry, I am a writer who loves to portray feelings of the contemporary generation.

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