ENTREPRENEURS

THE GLOBAL RISE OF WOMEN ENTREPRENEURS: FACTORS DRIVING SUCCESS IN BUSINESS

The rise of female entrepreneurship is not just a trend in developed countries. In many developing countries, women are starting businesses out of necessity, due to a lack of other opportunities.

01.04.2023
BY JEMMA UTOMO
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In recent years, there has been a noticeable trend of women entrepreneurs emerging and succeeding in the global business landscape. The rise of female entrepreneurship can be attributed to several factors, including the growing number of women in higher education, the increasing availability of capital for female-led businesses, and the rise of technology and globalization.


The number of women entrepreneurs has been steadily increasing over the past decade. In the United States, for example, women now account for nearly 40% of new entrepreneurs, according to a report by the Kauffman Foundation. Similarly, in the United Kingdom, the number of women-led businesses has increased by 45% in the past decade.


One of the main drivers of this trend is the growing number of women in higher education. Women now outnumber men in undergraduate and graduate programs in many countries, and are pursuing degrees in traditionally male-dominated fields like science, technology, engineering, and mathematics (STEM). This education has equipped women with the skills and knowledge necessary to succeed in entrepreneurship.


In addition, there has been a concerted effort to increase funding for female-led businesses. Organizations like the National Association of Women Business Owners (NAWBO) and Women’s Business Enterprise National Council (WBENC) provide resources and support for female entrepreneurs, including access to capital.


Technology has also played a major role in the rise of female entrepreneurship. Advances in technology have made it easier for women to start and run businesses from anywhere in the world. The rise of social media and e-commerce platforms has enabled female entrepreneurs to market their products and services globally, and to connect with customers and suppliers around the world.


The rise of female entrepreneurship is not just a trend in developed countries. In many developing countries, women are starting businesses out of necessity, due to a lack of other opportunities. These businesses range from small-scale enterprises to larger, more established companies.


Despite the progress that has been made, there are still many challenges facing women entrepreneurs. Access to funding and resources, as well as social and cultural barriers, continue to hinder the advancement of women in entrepreneurship. However, with the increasing awareness of these issues, and the efforts of organizations and individuals to support female entrepreneurs, it is likely that the trend of female entrepreneurship will continue to grow in the years to come.

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