Growing Women-Owned Businesses - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Growing Women-Owned Businesses

Growing Women-Owned Businesses

Growing Women-Owned Businesses
Tags: , , ...
March
16

Women entrepreneurs often start businesses out of necessity, inspiration and because they have the grit to get the job done, yet they also need access to financial services and a climate that makes doing business easy to move forward with their goals, according to the inaugural Mastercard Index of Women Entrepreneurs.

The Index found that while developed markets like New Zealand, Canada and the U.S., foster the biggest growth in women-owned businesses by having supportive systems in place, women in developing markets like Uganda, Bangladesh and Vietnam, are making their own way based upon grit and need.

Women often need to overcome two issues when becoming entrepreneurs: cultural biases and fewer advancement opportunities. Having access to financial services and an easy path to doing business can make a big difference.

“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,” said Martina Hund-Mejean, chief financial officer, Mastercard.

Supportive countries for women

Developed markets were on top of the Index when it came to supporting the growth of women-owned businesses and providing them with opportunities, with New Zealand, Canada and the United States leading the way.

These countries offer them mechanisms that help them grow their small- and mid-sized businesses and make conducting business easier.

The top ten countries on the Index in this arena are:

  • New Zealand – 74.4
  • Canada – 72.4
  • United States – 69.9
  • Sweden – 69.6
  • Singapore – 69.5
  • Belgium – 69.0
  • Australia – 68.5
  • Philippines – 68.4
  • United Kingdom – 67.9
  • Thailand – 67.5

Lower income economies can have high percentages of women entrepreneurs, because women are spurred on by need rather being inspired to start businesses because of a supportive environment. With Uganda (34.8 percent), Bangladesh (31.6 percent) and Vietnam (31.4 percent) having high numbers of women entrepreneurs due to the necessity factor.

Grit drives women entrepreneurs

When it comes to developing markets, grit is the determining factor for women starting businesses. Women in these areas tending to take on opportunities that do not require them to have specialized knowledge or access to innovative assets.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Capital One Spark Looking to Grow Local Businesses
Capital One Spark Looking to Grow Local Businesses

Posted: May 19, 2017

Capital One Spark Business has rolled out the We Work As One initiative to help grow local businesses, with Capital One Cafes in cities in the U.S. taking the lead on this initiative. Continue reading
New Credit Cards from Hilton Honors and Amex
New Credit Cards from Hilton Honors and Amex

Posted: November 10, 2017

American Express and Hilton have inked a deal expanding their relationship so that there will now be four Hilton Honors co-Branded credit cards in their network, designed with both small businesses and consumers in mind. The cards in this... Continue reading
Middle Market Firms Driving Economic Growth
Middle Market Firms Driving Economic Growth

Posted: August 25, 2017

Middle market firms are outperforming smaller and larger companies when it comes to growth while also having a profound effect on the country's overall economic health, according to the Middle Market Power Index released by American... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
We'll match all the Miles you've earned at the end of your first year. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
Our application is quick and easy with instant pre-qualification available
For Fair / Good Credit