Creating an environment where female business leaders are the norm, not the ­exception,

is vital if we are to have a strong economy that leverages the talents of all Australians. It makes sense, both ­socially and economically, that we support women to succeed in business.

Women are, on average, more highly educated than men, outlive men and are the main financial decision- makers in 90 per cent of households.

Despite this, over the decade the Australian Census of Women in Leadership has been run, there has been little change in the number of female executives in the nation’s top 200 companies.

Australia also lags in terms of the share of women on boards of listed companies, with women ­occupying just 7 per cent of Australian listed board ­positions, according to the World Economic Forum. But some progress is being made, particularly in small business. Currently, 32 per cent of Australian small businesses are run by women. Some of the fastest-growing sectors, particularly in the services and ­­e-commerce industries, are providing huge opportunities for female entrepreneurs looking to start up flexible businesses where they dictate their own hours or can attempt to balance work and family life.

Yesterday, I had the pleasure of speaking at the Fair Go for the West Women in Business Breakfast at Parramatta Leagues Club with 60 female business leaders from Western Sydney. The talent and passion of the businesswomen in the room was fantastic, as were their ideas. Yet these very successful women still reported difficulties balancing work and family ­demands, and challenges maintaining a career while taking maternity leave as barriers to participation and success in business.

As the executive general manager of NAB Business, I see first-hand every day the successes of female business owners. As a business leader myself, I also know the challenges well. That’s why I’m passionate about ­empowering and supporting female entrepreneurs.

Increasing female representation in business, from the corporate world to small business, brings about better decision-making, a diversity of thought and creativity.

Female entrepreneurs should also feel encouraged by the changing economy, as industries move to skill sets which are much more suited to women. As the ­author Hanna Rosin has said, we are moving towards a much more fluid marketplace where open communication, the ability to sit still, focus and listen is much more important. These are things women do especially well.

Women are increasingly out-earning men because they are better suited to the services-based industries where so many of the ­opportunities in today’s economy are based.

Regardless of what ­industry you are in however, it is often similar things which hold women back. As women, we often have great business ideas but lack the confidence to take them forward.

That’s why I am a big supporter of networking groups and mentors for ­female entrepreneurs and businesswomen.

I’ve been fortunate enough to have had some amazing mentors throughout my career. They have helped me find trust in my own voice, have been trusted advisers and remain firm friends. Although they may not have always told me what I wanted to hear, they have challenged me to ­believe in my abilities and to operate outside of my comfort zone.

Seek out mentors, join a local networking group or start one yourself to ensure you have a sounding board and support network to help you build your capacity and reach out to opportunities. Jump at opportunities for training, continually ­up-skill and explore coaching options to help you develop a business or strategic plan.

We want girls from across Australia to grow up seeing women in business as the norm, and not the ­exception.

This article was originally published on  The Daily Telegraph May 28th 2014 Read the original article

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