Women to drive the global economic recovery

| September 4, 2010
Women's Photo courtesy of of Superburschi's Flickr Photostream

Women outpace men when it comes to growing businesses and hold the potential to lead the global economic recovery according to a new study.

A report by Ernst & Young investigated the productive power of female entrepreneurs and states that women-owned enterprises grow faster than those owned by men.

Females own or operate up to 33 per cent of private businesses worldwide.

“Women entrepreneurs have distinctive needs — such as access to capital and business networks —that, if met, can help them scale up their businesses and drive economic revival.” the report states.

The unique challenges women entrepreneurs face such as discriminatory laws and social responsibilities can block the growth of their businesses.

The report also states women on average are less adventurous and less confident in the business environment.

Networking, strong role models and goal setting were among the tools identified as improving the female entrepreneur’s chances of success.

Read the full report: Scaling up: Why women-owned businesses can recharge the global economy


By Virginia Harrison, Editor First 5000