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 Mastercard Index: U.S., New Zealand, Canada and Israel Are the Top Countries for Women Entrepreneurs

November 20, 2019 GMT

REYKJAVIK, Iceland--(BUSINESS WIRE)--Nov 20, 2019--

Female entrepreneurs around the world are making strides to overcome gender-related biases and advance their businesses. This has a meaningful impact on the labor force, economic growth and the well-being of their societies. Mastercard today revealed the third edition of its Mastercard Index of Women Entrepreneurs, celebrating the countries where women entrepreneurs are most likely to thrive, while sounding the alarm that there are still significant inequalities that hold us all back.

Based on publicly available data from international organizations including the International Labour Organization, UNESCO and the Global Entrepreneurship Monitor, the global Index tracks the progress and achievement of women entrepreneurs and business owners across 58 markets (representing nearly 80 percent of the world’s female labor force) at three levels: (i) Women’s Advancement Outcomes, (ii) Knowledge Assets & Financial Access, and (iii) Supporting Entrepreneurial Factors. The results reaffirmed that women are able to make further business inroads and have higher labor force participation rates in open and vibrant markets where the support for SMEs and ease of doing business are high. They are also able to draw from enabling resources, including access to capital, financial services and academic programs.

Out of the top 20 ranking markets, 80 percent are high income economies, fueled by highly supportive entrepreneurial conditions. This includes the United States, which topped the charts for the first time, and New Zealand, which trailed closely in second place.

Top 10 markets for women entrepreneurs, based on supporting conditions and opportunities to thrive:

Rank

Market

MIWE Score

1

United States

70.3

2

New Zealand

70.2

3

Canada

69.0

4

Israel

68.4

5

Ireland

67.7

6

Taiwan

66.2

7

Switzerland

65.8

8

Singapore

65.6

9

United Kingdom

65.6

10

Poland

65.1

“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. At Mastercard, we believe good ideas come from everywhere. 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,” said Ann Cairns, Executive Vice Chairman, Mastercard.

Of the 58 markets, eight markets moved up by more than five ranks compared to the previous year’s scores, including France (+22 ranks) which was driven by a near-double increase in the women entrepreneurial activity rate, followed by Indonesia (+13), Costa Rica (+11), Taiwan (+9), Ireland (+7), Russian Federation (+6), Thailand (+5) and Ghana (+5).

The Index also suggests that the opportunity for entrepreneurship is not necessarily aligned to the wealth and advancement of a market. Countries with less conducive supporting conditions such as Uganda, Ghana and Botswana rank in the top three countries for women business ownership rates, compared to more developed ones. Women in these markets are deemed as “necessity-driven” entrepreneurs, spurred by a need for survival despite their lack of financial capital and access to enabling services.

Top 10 markets: Women business owners as a percentage of all business owners:

Rank

Market

%

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%

Other key insights:

In addition to shining a light on the progress of women entrepreneurs on a global scale, Mastercard is committed to designing a better world for women that creates limitless possibilities for us all. In the U.S. Mastercard is cultivating entrepreneurs through programs like Start Path and empowering small business owners in partnership with Create & Cultivate. In Africa and South East Asia, Mastercard is fueling women-led businesses with access to micro-credit and new digital marketplaces through platforms like Jaza Duka and the Mastercard Farmer Network. Furthermore, the Mastercard Center for Inclusive Growth is providing philanthropic support to enable financial literacy training and access to vital tools and services for women entrepreneurs in underserved markets.

Download the full Mastercard Index for Women Entrepreneurs 2019 report and infographic.

Methodology
The Mastercard Index of Women Entrepreneurs 2019 is the third report profiling the progress and achievement of women entrepreneurs/business owners across 58 societies around the world. With Angola as the newest market added to the Middle East & Africa region, the Index expands its attempt to track the factors that underpin the gender gap among business owners. Based on publicly available data from international organizations including the International Labour Organization, UNESCO and the Global Entrepreneurship Monitor, the study represents nearly 80% of the world’s female labor force and highlights how the 58 markets differ at 3 levels: (i) Women’s Advancement Outcomes, (ii) Knowledge Assets & Financial Access, and (iii) Supporting Entrepreneurial Factors. The results also shed light on which factors and conditions are the most conducive in helping to narrow the gender gap among female entrepreneurs/business owners, or the most inhibitive and disabling, thereby weighing on women’s ability to thrive in business.

About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

 

1https://wbl.worldbank.org/en/data/exploretopics/starting-a-job

View source version on businesswire.com:https://www.businesswire.com/news/home/20191120005266/en/

CONTACT: Kara Condon

kara.condon@mastercard.comAlexandria Brown

alexandria.brown@mastercard.com

KEYWORD: UNITED STATES MIDDLE EAST ICELAND AUSTRALIA/OCEANIA NEW ZEALAND ISRAEL NORTH AMERICA CANADA EUROPE

INDUSTRY KEYWORD: SMALL BUSINESS BANKING PROFESSIONAL SERVICES FINANCE

SOURCE: Mastercard Investor Relations

Copyright Business Wire 2019.

PUB: 11/20/2019 04:01 AM/DISC: 11/20/2019 04:01 AM

http://www.businesswire.com/news/home/20191120005266/en