Two years ago, a study highlighted that women entrepreneurs are still facing investment barriers. Today and in Europe, women entrepreneurs use an area that is most convenient for them to develop their projects successfully. In any case, this is the conclusion of the study carried out by Mastercard, even if difficulties were identified, these are particularly related to Covid-19.
Europe leads the Mastercard ranking
There are 6 European countries in Mastercard’s world rankings this year. This is twice as much as last year, and this year it is thus possible to find Israel in first place in the world rankings, Switzerland in third place, Poland in fifth place, the United Kingdom in sixth place in Sweden. in eighth and finally Spain in tenth place. In all of these countries, the socio-economic contributions of women entrepreneurs are greater than anywhere else in the world. It should also be noted that these good results, particularly in Israel, Sweden and Denmark, are achieved thanks in part to government support for entrepreneurship. For its part, France seems to be a bad student, it is now eighth in the ranking of European countries, but struggles with eighteenth place worldwide and therefore only gains one place compared to 2019.
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We understand here that Europe has become a good playing field for women entrepreneurs, even if certain countries are less favorable for their activities. Indeed, countries like Ireland and Belgium have fallen in the rankings. The first went from 5th to 13th place. The second went from 21st to 30th place.
Women entrepreneurs very present in Europe
The fact that Europe is an interesting market for women entrepreneurs is also related to the distribution of women in certain European countries, according to the study by Mastercard. In fact, the percentage of women entrepreneurs per country is 31.2% in Portugal, 30.9% in Spain, 29.9% in Poland and 28.4% in the United Kingdom.
These rates are attractive and increasing. This is all the more remarkable when we consider certain positions of women in companies. For example, 40% of women in Poland or Sweden hold a leadership position.
Women entrepreneurs around the world denounce the effects of Covid-19 on their activities
Although the study shows the presence and investment of women entrepreneurs in the European market, it is clear that the differences with men persist and undermine their business. The coronavirus pandemic is the latest major example of this. The Mastercard study shows that women suffered more from the pandemic than men as part of their business. For example, 64% of women-owned businesses were hard hit, compared with just 52% of men-owned businesses. In France, the difference between men and women is smaller at this level. 65% of women entrepreneurs stated that their work was severely impaired, and this was also the case with 61% of women entrepreneurs.
As with the entire crisis, the study finds that the sectors hardest hit are tourism, transport, sales or even catering. Conversely, the entrepreneurs who are least affected in the course of their activities are those who are invested in education, health and social affairs as well as in agriculture.
If we look closely at the difficulties posed by women entrepreneurs, we find privacy. In fact, a third of business leaders felt that they had devoted more time and attention to family life during the health crisis, which blocked them from doing their jobs.
Finally, the study produced by Mastercard shows that the coronavirus has shed light on the essential role of women and their ability to assume and lead in certain circumstances. The study also raises the difficulties faced by women entrepreneurs in developing countries. It is difficult for them to access business opportunities and efforts are required in these markets. This with the aim that equal opportunities for entrepreneurship and success are equal for all. After all, as Mastercard points out, all is not lost as gender equality action and core investment are essential to correct the gender biases that often permeate the business world.