When traditional workplace standards catch up to women, physically and emotionally, it's time to rethink work culture. Women entrepreneurs can help.

Welcome back to my weekly newsletter.

A topic has been coming up repeatedly in recent conversations with women entrepreneurs. In last week's newsletter, I talked about the boxes women are constantly placed in (sometimes by our own doing), and several readers commented and brought up the question of age. Many entrepreneurs finally quit the workplace and start their first business in their forties, fifties, or even later: there is no age limit to creating our own business; in fact, there is no age limit to do anything we want to do with our life -- do not let stereotypes and limiting beliefs make you think otherwise.

But there are gender stereotypes when it comes to women entrepreneurs. Who is more likely to end up on the front page of a business or lifestyle publication? And who is more likely to have access to funding? You can guess the answer. (I also addressed this in a newsletter a few weeks ago on the heels of a report highlighting that "attractive women 16% more likely to secure start-up funding".) This is too bad because women entrepreneurs who enter their 'second act' bring a wealth of knowledge, skills, and experience from their previous careers, they have resources, and they've had time to build a strong network of supporters. All the ingredients that should position them for business success.

There is a lot to unpack when it comes to women starting a business later in life. And a lot of it intersects with women leaving the workplace. In Canada, it is estimated that 100,000 women left their roles during the pandemic, with many choosing to exit the workplace altogether. The figure for men is more than ten times smaller.

What pushed women to do this? For many, the entrepreneurial journey comes from dissatisfaction with workplace culture and years of trying to conform to a lifestyle that does not suit their needs, with, in many cases, limited advancement possibilities. The Brand is Female released a report in collaboration with Randstad Canada, and our study's results indicate women's disappointment: only one in five employed women say much progress has been made over the past ten years in achieving gender equity. It also comes with vast amounts of stress, which eventually catches up to us physically and emotionally.

Lorraine Candy, Editor-in-chief at Elle UK Magazine, just published an article in The i Paper sharing her experience grappling with a physical and emotional breakdown in her forties. She writes:

"I married at 30, had my first child at 33 and my fourth at 43. Life was full on, and I loved it. I wasn’t alone in this, I had female friends in different industries who relished the combination of career and domestic busy-ness, lawyers, nurses, doctors, engineers flourishing at full speed. And those women I knew who took on mothering full time hurled themselves at it with tireless 100 per cent daily commitment. We all coped well – until one day, somewhere in our mid-forties, we didn’t. Almost overnight, the stress that fuelled us became a problem, it ambushed us out of the blue and our Generation X ability to push on through, our endurance mentality, suddenly seemed to fail us. I began to have panic attacks about workload and our family to-do list. Around me, women of a similar age were melting under the weight of increasing responsibility too. Many of us were in senior positions, managing ambitious workloads alongside parenting teenagers (more difficult than toddlers) or grappling with the unexpected grief of an empty nest. Some of us were re-entering the workforce, or caring for ageing parents, facing illness of our own or that of close friends. News of divorces, deaths, financial problems, or the shock of redundancy, filled our WhatsApp chats. We were overwhelmed and inexplicably physically and mentally broken. I could feel my confidence slipping away. Daily, I fantasised about being knocked over by a car so I could go to hospital and work out what was wrong with me, and why my peers and I felt this midlife burnout."

I am having similar conversations with women around me. Women who are accomplished business leaders, C-suite executives, lawyers, bankers. Women who are realizing that there is more to life than the traditional business success model which, we can't ignore, is modelled after men climbing up the corporate ladder armed with a style of management that is aggressive and does not leave much room for things like EQ or empathy (or taking care of children at home).

Lorraine Candy goes on to talk about the role perimenopause had to play in her situation. Still, for many, the build-up of years of working in a stressful environment, enduring ongoing gender bias and daily microaggressions is enough to make them rethink what they're doing with their lives and with reason.

Entrepreneurship is a way to reach independence for many, but it comes with its own set of obstacles. And when decades of emotional stress catch up to us, it also requires a healthy dose of introspection and healing work to emerge more grounded and see clearly through it all. However, when we, women, helm our businesses, it allows us to rethink the culture we want to instill at work for ourselves and our teams.

Still, workplace culture needs a general overhaul. This is where gender equity practices (part of a holistic approach to EDI which benefits all), more women in C-suite and Board roles, and flexible workplaces that meet women's needs are paramount. (For more advice for employers, head to our report on gender equity.)

A booming beauty founder's advice to women entrepreneurs

This week on The Brand is Female podcast, I spoke with Allison McNamara, Founder of MARA Beauty LLC, a line of algae-infused skincare that has been met with rave reviews and sells at prestige retailers from SEPHORA to The Detox Market and more. Allison had a fresh take on making a beauty brand successful: she knows she's playing in a saturated industry and believes storytelling makes a difference. She'd know a thing or two about that, having been an editor with top US outlets from POPSUGAR, Refinery29, Inc. and Who What Wear.

What's her advice to women entrepreneurs? Get a good lawyer and ensure you understand where your money's going.

"I think a lot of people who don't come from a finance background (I don't come from a finance background), kind of let someone else do that. But I think that's why Mara has been successful. Because I really took the time to learn the finance portion of the business. And operate the ERP system that we use. And really see where the money's going. Then you can make smarter choices. And I think sometimes we get our hands tied into a place where you're like, okay, just pay them to take care of it. Where you would save so much more money, time, energy, resources if you just learn how to operate it yourself."

Now, for this weekend's suggested reading:

To overcome adversity: It's OK if you don't fit into the typical CEO model, especially for women. Here's a guide to embracing your unique leadership qualities. 

To inspire: London Laine, a Black-owned wedding dress rental company, is working to make the wedding industry more sustainable. 

To spark change: How to hustle: a new program is working to help Black women entrepreneurs think bigger.

To fix what's broken: According to the World Economic Forum, we are 131 years away from achieving gender equality. This is mainly due to a need for more women in leadership roles, which has resulted in regression from parity. 

Thanks for reading this week's newsletter and tuning in to our weekly podcast episode! Let me know what you think of today's topic and what you'd like to see covered in upcoming editions.

Until next week,