Richa Rai is a proud Bellevue resident passionate about empowering others. She is currently on sabbatical from her career as a Product Management Executive, with experience at companies such as Microsoft, Kaiser Permanente, and F5. Outside of work, Richa finds fulfillment in teaching, volunteering, and mentoring, and is dedicated to empowering others, which is what led her to participating in the Bellevue Essentials Program.
Tell us about your volunteer project with Bellevue Essentials Program
A pivotal question posed to me by Mayor Robinson during the launch of the Bellevue Essentials Program inspired my volunteer project. She sought insights into the challenges women business founders face and avenues for the city to empower them to establish thriving, long-term businesses. As a result of this question, I immersed myself in networking, conducting interviews with entrepreneurs, and engaging diverse stakeholders to gain a holistic view of empowering sustainable businesses in our community.
Ultimately, what is the goal of your project?
We want more women business founders in our community because entrepreneurship can promise both financial and personal freedom. Additionally, women bosses make excellent employers because they understand the delicate balance of family responsibilities. Furthermore, they serve as inspiring role models for future generations by breaking gender stereotypes.
What are some challenges faced by women business founders?
I've identified distinct challenges faced by women business founders in brick-and-mortar stores compared to those in tech startups.
For brick-and-mortar owners, rising commercial real estate prices and competition from big brands are pressing concerns threatening their sustainability.
For tech startups, women founders worry about month-to-month survival due to funding disparities. Shockingly, companies founded by women received just 2.1% of venture capital funding in the US. Most women tech founders lack access to relevant connections with investors and like-minded entrepreneurs.
My project aims to address these gaps by advocating for supportive policies and fostering opportunities tailored to the specific needs of each group.
How can the community get involved?
The community can show support by purchasing from local women-owned businesses, offering pro bono services, volunteering, donating, and simply spreading awareness. Even small gestures contribute to closing gender gaps.
For further inquiries contact richarai@hotmail.com.
We want more women business founders in our community because entrepreneurship can promise both financial and personal freedom. Additionally, women bosses make excellent employers because they understand the delicate balance of family responsibilities. Furthermore, they serve as inspiring role models for future generations by breaking gender stereotypes.
