WOMEN IN BUSINESS
Mastercard Index of Women Entrepreneurs reveals top countries where female-owned businesses flourish What factors compel women to go into business? According to the findings from the inaugural Mastercard Index of Women Entrepreneurs, women are driven to become
Mastercard Index of Women Entrepreneurs reveals top
countries where female-owned businesses flourish
What factors compel women to go into business? According to the findings from the inaugural Mastercard Index of Women Entrepreneurs, women are driven to become entrepreneurs for the following: necessity, sheer grit and the presence of enabling conditions that lead to access to financial services and ease in doing business.
The Philippines got the 8th place (68.4 percent) described as “higher than expected index scores in its lower middle income economies.” It was also noted that “the country belongs to a segment wherein the underlying entrepreneurial conditions and women business ownership are not necessarily the most conducive.”
Developed markets topped the index: New Zealand (74.4 percent, first); Canada (72.4 percent, second) and the United States (69.9 percent, third). Although New Zealand took top spot on the Index, Uganda (34.8 percent, first) and Botswana (34.6 percent, second) featured the largest number of women business owners as a percentage of total business owners.
According to the Index, developed economies feature conditions that support women business ownership…in general, high income economies tend to perform better in terms of women’s advancement, women’s knowledge assets and financial assets.
Martina Hund-Mejean, Mastercard’s chief financial officer states, “The prevalence of ambitious, resourceful women should be regarded as a prime business opportunity. As society addresses existing cultural bias, we will do our part to help create those conditions that will strengthen and fuel the foundation for personal and economic growth.”
The Index suggests that countries with enabling conditions foster more Opportunity-Driven Entrepreneurs (driven by desire to progress) while countries with less conducive supporting conditions tend to breed more Necessity-Driven Entrepreneurs (driven by the need to survive).
The Mastercard Index of Women Entrepreneurs uses 12 indicators and 25 sub-indicators to look at how 54 economies across Asia Pacific, Middle East & Africa, North America, Latin America and Europe representing 78.6 percent of the world’s female labor force differ in terms of the level of Advancement Outcomes, Knowledge Assets & Financial Access and Supporting Entrepreneurial Factors.