Although more men are involved in entrepreneurship than women, more women choose entrepreneurship BECAUSE of the lack of available job opportunities. The largest gap occurs in middle-income nations where men are 75% more likely to be active entrepreneurs, compared to 33% in high-income countries and 41% in low-income countries. A recent GEM (Global Entrepreneurship Monitor) study showed that the level of female entrepreneurship activity across the 34 countries varied from 39.1% in Peru to 1.2% in Japan.
Women and Education Levels:
The majority of entrepreneurially active women (54%) who live in low-income countries have not completed a secondary degreen. In high-income countries, on the other hand, women with post-secondary education are the most likely (34%) to start a new business.
Women Entrepreneurs and Access to Start-up Capital:
According to the Aurora Network for Women, only 3% of venture capital goes to women-owned ventures. For women entrepreneurs, most of their start-up funding comes from either personal savings or loans from friends and/or family.
Women Entrepreneurs Use of Technology:
In today's fast-paced business market, having, using and understanding technology is vital to the success of almost every kind of business. It's especially vital for small businesses who are competing with large companies. Today, over 95% of women-owned businesses report that they use technology regularly.
Women Entrepreneurs andTop Business Management Concerns:
Women entrepreneurs site their top day-to-day business management issues as: - growing profitability - finding skilled and committed employees - managing cash flow - compliance and regulation issues - purchasing scalable technology - access to financial capital (debt and equity capital).
Average Age of Women Entrepreneurs:
Globally, the average age for women starting a business is 25-34. The next biggest age bracket is 35-44, followed closely by women in the 19-24 age group. Both men and women are less likely to start a business over the age of 55.
Factors That Encourage Women to Start Their Own Businesses:
Women are more likely to start their own business if they:
Know other entrepreneurs
Can see that business opportunities exist
Live in areas where entrepreneurship is encouraged and supported by local governments, leaders and financial institutions
Have a belief in their own knowledge, skills and experience
Have access to training, capital and support
Studies conducted over the last five years have show that women entrepreneurs are more likely to start, stabilize and succeed as business owners if they receive training and technical assistance, have a strong support system that includes a mentor and can access sufficient capital to meet the needs of their business without jeopardizing or taking away from the family income.
