The fear factor

The 12 South African women IT entrepreneurs who are participating in a three-week business training programme in Maryland, USA, are learning that as different as our two cultures may be, it seems more often than not that we share many common challenges and issues.

But one aspect in which female entrepreneurs in the US have the edge is an emotional one. In the South African economy there is pressure to conform, to have 'real job'. Starting a business is often admired, but rarely attempted, and most often is driven by necessity, not desire or passion.

But what are we afraid of? Fear of the unknown; fear of failure; fear of success even. Some women fear how they will be perceived if they rise above others and achieve.

Programme participant Shana Kassiem, CEO (software services) at Maxxor Business Solutions, explains: “One thing that I have realised in being here [Maryland, USA] is that failing is OK. What is more important than failing though, is the way you pick yourself up to try again.”

In the US, failure is a badge of honour and many venture capitalists won't even consider a funding application unless the business owner has at least one or two failed operations under her/his belt.

Our US counterparts embrace this uncertainty and actually thrive on it. Yes, it helps when you're taking the plunge in a robust economy and where there are abundant sources of support. Lead trainer Julie Lenzer Kirk adds: “Here aspiring female entrepreneurs have the opportunity of being supported and mentored by women who've already done it; who will help them face their fears.”

It works. Americans are also a lot more forgiving of failure than we are. No social pariahs here (well, not bruised entrepreneurs anyway!) and their banks don't stop giving them lines of credit if they liquidate. Americans are also good at 'faking it until you make it'. Pretend you are successful and eventually you will be. Some call it 'The Secret'; others say it's simply positive thinking.

In the US, entrepreneurs don't even need to wait for inspiration to strike: most universities have technology transfer offices whose role is to find businesses to commercialise their faculties' inventions and discoveries. It's a little easier to get funding when your product was developed at MIT...

Small businesses drive the US economy – 75% of new jobs are created by these each year, so there is a concerted effort by state and federal governments to promote them.

Providing grants, funding, support services and resources are just some of the ways in which government makes starting a business in the US attractive. South Africa – are you listening?

Related story:
Hub sends lucky 12 to Maryland

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