guide's free consulting and coaching services are in particularly high demand and ... Among the services introduced in 2
CITIES SUPPORTING SPECIFIC GROUPS
MUNICH
THE GUIDE PROJECT
Consulting and coaching for female entrepreneurs
Female entrepreneurs encounter specific problems when starting up their own businesses such as raising investment capital, accessing trade networks and juggling work and family. They are more susceptible to the fear of failure which they offset with a careful, deliberate and well-prepared approach to starting and running a business.
Encouraging more women to start their own business could promote economic growth. Research from the Global Entrepreneurship Monitor 2011 on female entrepreneurship in Germany confirms that businesses owned by women tend to be smaller than those created by men. Women are more likely to establish their business in the highly competitive service industries.
The majority of Germany’s business owners and professionals are male. Even though women account for 46% of the working population, they make up 42% of entrepreneurs and only 38% of the full-time self-employed workforce.
A GUIDING LIGHT guide was launched in 2005 by GründerRegio M e.V., a non-profit organisation, to promote entrepreneurship in Munich and the surrounding region. The city of Munich is a member of the organisation, part of the board and contributes financially their projects. guide provides training, advice, counselling and networking opportunities to female entrepreneurs in Munich. It supports women in planning and establishing their own service sector business. It targets women who are returning to the labour market after raising a family and those who may have problems finding or are actively seeking employment. guide also reaches out to female entrepreneurs over 50 years of age. Women can access consulting services and explore if entrepreneurship is the right option for them. Unlike other institutions offering start-up consultation, guide’s services are tailored to the client’s specific needs and unique personal situation such as their employment history, health issues, family commitments and their individual aims and interests. This integrated approach includes a realistic look at how setting up a business will impact on the entrepreneurs’ life. The one-to-one consulting and coaching take s place before and during the start-up process. As many women also prefer to work on their own, without business partners, they require specific advice. Furthermore guide regularly organises seminars and workshops, often with young entrepreneurs giving presentations. Aspiring and actual female entrepreneurs share their knowledge, experience and expertise at frequent networking events. The ‘Best Concept’ competition further motivates women to refine their ideas, come up with solutions and present their project to the public. The project runs from February 2011 until December 2013.
24
CONTACT Dr. Bettina Wenzel Guide project director GründerRegio M e.V. www.guide-muenchen.de
SUCCESS guide’s free consulting and coaching services are in particularly high demand and appointments with the business advisers are booked well in advance. guide has assisted almost 4 000 female entrepreneurs. About 60% of guide’s clients successfully started their own business during the consulting process. About another 30% are planning and organising their next steps towards sustainable self-employment. It contributes to Munich’s increasing female entrepreneurial activities and improves the compatibility of family and career through taking into account and planning for the women’s whole life situation. A community of female entrepreneurs has developed, facilitating the exchange of experience and improving the business survival rates and growth perspectives of the newly founded companies.
CHALLENGE guide was awarded major European and local funding, enabling the project to thrive. In order to carry its mission from 2014 onward, continued financial support is crucial to the project.
SHINE ON guide will maintain its focus on female entrepreneurs, taking into account the unique background, education and experiences of each client. Among the services introduced in 2012 is a support system for female entrepreneurs to share and learn from each other in a social and friendly environment. An informal group of successful businesswomen known as the ‘Entrepreneur Mastermind’s’ meet regularly to advise others. Participants benefit from the peer-to-peer network of business advice, group coaching, contacts and experience. A new service in 2013 will offer in depth counselling and support tailored to the needs of specific target groups, beginning with midwives wishing to create their own business. Since the current project period expires in December 2013, continuing this service and network is a priority on Munich’s labour and economic development agenda. guide will apply for financial support from the European Union and the city of Munich so as to continue with its work.
FUNDING guide is mainly funded by the Bavarian state ministry of labour and social welfare, family affairs and women, the European Social Fund (45%) and the city of Munich’s department of labour and economic development (41%). The remaining 14% comes from its own funds, generated from giving speeches, writing evaluations and fees for workshops.
The workshop about copyrights saved me from a lot of trouble and made me change the name of my business.
The workshop on business plans helped me when my business plan hit a dead end.
reactions from two of the service users
25
