Updated: Apr 25, 2019
The emergence of women entrepreneurs and contribution to global economy is quite visible today.
Women entrepreneurs need to be lauded for their increased utilisation of modern technologies, creating a sizable employment for others and setting the trend for other women entrepreneurs.
Emerging economic force
Women owned businesses are highly increasing in almost all the countries of the world. In order to start up a new enterprise an entrepreneur must have access to keys resources like capital and assets. An Australian study conducted on female entrepreneurs suggested that the average required capital expenditure was $52,980. The individual amounts vary depending on the enterprise and can range from hundreds of dollars to millions of dollars. Most of the women used their personal savings and the second source banks. Women are more likely to us their own money and borrow from friends and family. More than half surveyed in Australia did get loans to start up their businesses from banks.
In Singapore women entrepreneurs are starting businesses at twice the rate of their male counterparts Female entrepreneurs in Singapore tend to be more educated and have at least secondary education. 35% of them have post graduate degrees. Singaporean women are also up to date with the latest technology and how to use it in their business. They value networking and feel that it is one of their key success factors. The importance of networking is also important to American women.
In many developing countries like India, the government is taking steps to encourage women entrepreneurs. According to National Sample Survey, only 14% of businesses are run by women entrepreneurs in India. In which most of the companies are boot strapped and small scale. Taking a global report, nearly 126 million women have their own business and whereas in India 8 million women run their own.
Women-led business is booming. Women are starting businesses at a more rapid rate than anyone else. In the past 20 years the number of women led businesses in U.S. have increased by 114%.
As per a report by MasterCard, these are the Top 10 markets with the strongest supporting conditions and opportunities for women to thrive as entrepreneurs
Women often start businesses out of necessity
As per a report from Global Entrepreneurship Monitor, countries with lower per capita incomes--and higher unemployment--have higher rates of women-led entrepreneurship. In Africa, for example, the study indicates that 25 percent of the female population is in the process of starting a business, compared to 26 percent of men. Similarly, 14 percent of women in Asia and the tropical Pacific were said to be starting a new businesses, compared to 15 percent of men. By contrast, in North America, 11 percent of women compared to 16 percent of men said they were starting businesses. In Europe, in more traditional economies supported by heavy industry, the rate is six percent of women compared to 13 percent of men.