GLOBAL – In time for International Women’s Day, Mastercard released the Index of Women Entrepreneurs, revealing the countries with the strongest conditions that support women in business.
These conditions are access to financial services, robust small- and mid-sized business communities, high quality of governance, and ease of doing business, enabling women entrepreneurs to overcome the two main obstacles discouraging females from putting up their own businesses–cultural biases and fewer opportunities for advancement.
Here are the top 10 markets with the strongest supporting conditions and opportunities for women:
1. New Zealand
2. Canada
3. United States
4. Sweden
5. Singapore
6. Belgium
7. Australia
8. Philippines
9. United Kingdom
10. Thailand
On the other hand, the percentage of female business owners in lower income countries like Uganda, Bangladesh, and Vietnam, are higher but it’s mainly because of their need to survive and not because there are an abundance of opportunities for them.
Here are the top 10 countries with the highest percentage of female entrepreneurs:
1. Uganda
2. Botswana
3. New Zealand
4. Russia
5. Austria
6. Bangladesh
7. Vietnam
8. China
9. Spain
10. United States
The major takeaway in this study is that women are spurred by grit and necessity to become entrepreneurs but they need the enabling conditions for them to succeed. Entrepreneurship is a male-dominated industry not because women are less capable but because certain conditions that discriminate against the gender restrict them from achieving their full potential.
Hopefully, in a few years or so, more markets will welcome and support entrepreneurs regardless of gender.
Photo from Pexels.com
