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. 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.
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.
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.
