Australia is in the top 10 global markets for female business owners, with more than 30% of total business ownership belonging to women, according to new research.
This year, we came in at 8th on the Mastercard Index of Women Entrepreneurs (MIWE) for our percentage of female entrepreneurs, illustrating the thriving drive women have as business leaders.
The global Index tracks the progress and achievement of women entrepreneurs and business owners across 58 countries.
The United States emerged as the best place globally to be a woman entrepreneur, the first time it’s taken the lead. New Zealand came in at second, followed by Israel, Ireland and Taiwan. Australia does not make the top ten, according to this ranking.
The data also showed interesting statistics, such as the fact that some of the least wealthy and developed nations such as Ghana, Uganda and Malawi, have the highest rates of Women Business Ownership (more than 30% Women Business Ownership), suggesting that the opportunity for entrepreneurship does not necessarily align to the wealth and advancement of a market.
The study, which is in its third year, included data from the International Labor Organisation, UNESCO and the Global Entrepreneurship Monitor.
“Now is the time for governments and organizations to power together to support women to advance their businesses by eradicating gender-bias and ensuring greater access to education and financial inclusion,” Ann Cairns, Executive Vice Chairman at Mastercard said on the research.
“Women-owned and -led businesses are strong catalysts for economic growth, improving the lives of everyone. With this study, we are shining a light on those under-represented because, even today, inequality and exclusion still hold women back.”
Earlier this month, a study from Thomson Reuters Foundation’s global survey on the best countries for social entrepreneurs found Australia to be second best. The same poll also found that while 67 per cent of experts believed women were well represented in leadership roles, only 44 per cent thought female leaders were paid the same as men.
The top markets to be a female entrepreneur are:
1. United States
2. New Zealand –
6. Taiwan (China)
9. United Kingdom
And here’s the top ten for countries according to the proportion of female entrepreneurs:
1. Uganda – 38.2
2. Ghana – 37.9
3.Botswana – 36.0
4.United States – 35.1
5.New Zealand – 31.8
6.Russia – 31.2
7.Malawi – 31.1
8.Australia – 30.9
9.Angola – 30.3
10.Portugal – 30.2