Women's self-efficacy needs improvement – Oulu's higher education institutions strengthen women's confidence in entrepreneurship and leadership

Becoming a CEO is more challenging for women than for men. Out of ten individuals in leadership positions in Finland, four are women (EVA study 10/2024, in Finnish). In 2024, for the first time, the share of women in executive roles exceeded 30 percent.

A joint training initiative by Oulu University of Applied Sciences and the University of Oulu aims to change this trend. “We encourage women entrepreneurs to expand their businesses and female experts to advance to leadership roles, such as executive teams and boards. Our training focuses on strengthening women's skills and networks,” explains Katta Siltavirta, Project Manager at Oamk.

The fTwist project (in Finnish) on women's entrepreneurship and leadership targets highly educated female professionals, leaders, and entrepreneurs seeking new challenges in the job market.

“Women have enormous potential, but the key issue is strengthening their self-efficacy. The fTwist project offers an opportunity to enhance skills and build confidence in one's leadership abilities,” says Anne Keränen, a University Researcher at the Martti Ahtisaari Institute of the Oulu Business School. Her research focuses particularly on responsible and sustainable leadership and business.

“A weak sense of self-efficacy arises from the fact that women are not usually encouraged to pursue leadership roles, which weakens their confidence in their own abilities. They also lack role models, making it harder for them to believe that women can reach top leadership positions,” Keränen explains. Women also find it challenging to balance work and family life, which influences their career choices.

The project has identified significant barriers, but also opportunities for the growth of women-led businesses. Women's entrepreneurship differs significantly from men's. “Women’s businesses tend to be smaller than those founded by men, female entrepreneurs are less likely to become serial entrepreneurs, they are more reluctant to scale their businesses, and they often have less startup capital than men,” Siltavirta lists.

For many women, self-employment is a conscious choice, allowing them to flexibly combine work, family, and free time. It also enables them to fully utilize their own skills and expertise. However, this can also limit growth. For self-employed women, networks and collaboration offer significant opportunities for business development, especially when resources for growth are limited.

“According to studies, female entrepreneurs are more enthusiastic about their work and more satisfied with it than men,” Siltavirta summarizes.

The fTwist project builds upon previous women’s entrepreneurship and leadership programs run by Oamk and the University of Oulu. Over the years, nearly 800 female entrepreneurs in Northern Ostrobothnia have participated in these training programs. Feedback from participants indicates that their confidence in business development and leadership has strengthened, their understanding of business operations and customer orientation has improved, and their self-awareness and recognition of their own skills have grown.

The three-year fTwist – Courage and Resilience in Business project is an ESR-funded joint initiative between Oamk and the University of Oulu, coordinated by Oamk. The project aims to enhance women's leadership skills, courage, and networks while promoting a more equal working life. It will develop and pilot four multidisciplinary, innovative training programs, as well as workshops, education, and international collaboration.