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Women are opening up massive opportunities for business expansion.
5 min read
The opinions expressed by contractors are theirs.
Small spots form a massive ocean. The adage could not be better represented than the scenario in the small and medium business sector today. In 2016, nearly 98% of all importers in the United States were small and medium-sized enterprises with fewer than 500 employees, and the percentage of exporters was only marginally less than 97%, according to the Small Business and Entrepreneurship Council. Approximately $ 556.2 billion worth of goods were traded with 15 foreign countries in early 2016, with approximately 96% of SME consumers living outside the United States
Most women-owned businesses are SMEs . their vast base of foreign consumers. Despite studies showing that women-owned businesses exporting their goods and services earn exponentially more than firms owned by women who do not, only 12% of exporting firms belong to women.
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The Global Entrepreneurship Monitor (GEM) Report for women 2016/17 reports that 274 million women were already running their own business out of 74 economies, of which 111 million were running well-established businesses in 2016.
As globalization breaks down the barriers that constrain businesses through cultures, gender and geography, many partnership and trade agreements have been developed to encourage global economies. activity among women. Women are reputed to spend about 90% of their income on the health and education of their community and their families, thus contributing directly to development, so that it is easy to understand why they are essential .
Understanding Women's Attitudes, Trends and Activities All over the world, they will help shape government policies at various levels as well as many education and training programs aimed at improving the environment. business for women.
Here are some interesting conclusions – and paradoxes – from the GEM Women Report: [19659011] 1. Developing economies are seeing greater gender parity among entrepreneurs than in developed economies.
Asia and Latin America show the highest parity between men and women, resulting in greater entrepreneurial activity. Economies at the development stage of innovation saw women start businesses at 60% of the male rate – a surprisingly strong decline in factor-driven economies. Despite the advantage of technology in a typical economy of innovation, fewer women were inclined to entrepreneurship.
2. More women than men cite opportunity motives for businesses
More women than men, about 20% more, cite opportunities as the main reason for getting into business, even in factor-driven economies. This only worsens in the innovation group, where women are three and a half times more likely to cite opportunity motives than motives of need
. In addition, the report shows that women entrepreneurs have a 5% higher probability of innovation than men in all 74 economies
Related: Danica Patrick Years spent in prepare to retire ]
3. More women than men never start their business.
Although the number of women who aspire to start their business is closer to the number of men, the gap is widening among business owners, indicating that women are less likely to start their business. It is also more likely to emerge at an early stage or between transition phases (4 out of 10 in factor-based economies). This trend is improving slightly in the innovation-driven economies where there are two outlets for 10 women-owned businesses.
The cessation of activity among women is associated with lower growth expectations and their expected roles as primary caregivers. ] 4. Women Orient Community Initiatives
In developed economies, more than half of women-owned businesses are clustered around government services, health, education, and services. social. The report shows that women are geared to sectors typically dependent on human capital – probably because of women's intrinsic emotional appeal.
Entrepreneurial activity decreases as economic development increases.
Surprisingly, entrepreneurial activity among women declined when economic development improved, which translated into a larger gender gap.
While developing countries exhibited higher entrepreneurial activity, fewer firms were likely to enter a mature phase. Innovation-based economies were perceived to be more supportive of sustainable firms, but grew at a slower pace than firms owned by men. Interestingly, women in the innovation-driven economies displayed a less favorable view of their own abilities than women in developing economies.
Laurel Delaney, founder of Women Entrepreneurs Grow Global and author of the bestseller "Exporting: The Definitive Guide" says, "Even in a developed economy, women business owners are less likely to explore and expand their products or services because they think they can not do it, or that they do not have access to the right training, education, advisory networks, mentoring and community programs.This perceived deficiency makes it difficult for women to access markets, do marketing and do not have to go to market. to build relationships. "
Related: A day in the life of Jen Gotch, the Malay woman behind the multimillionaire company Ban.do
6. Entrepreneurial activity decreases as and as the level of education increases
The entrepreneurial participation dim inuait with the increase in the level of education, suggesting that general education is less relevant for developing entrepreneurial skills or aptitudes
. entrepreneurial activities in the most unexpected places. A refugee camp in South Sudan has been found flourishing with micro-enterprises and small businesses, mostly headed by women. Technology, the gigantic Gamechanger crushes the barriers between geographies and cultures and federates companies with the perfect customer to hang them without prohibitive costs.
"A global state of mind begins with self-awareness, reflects an authentic opening and engagement world, and uses an increased sensitivity to the sensitivity of intercultural differences," noted Delaney.
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