According to the World Bank Group, while women are making major strides in terms of educational attainment at primary and secondary levels, they often lack the combination of education, vocational and technical skills and work experience needed to support the development of highly productive businesses. Male entrepreneurs, for example, are more likely than female entrepreneurs to have been employed in the wage sector prior to starting a business. Female entrepreneurs who were surveyed as part of the Global Entrepreneurship Monitor reported being less confident in having sufficient skills to run a business and were more likely to state that fear of failure prevented them from starting a business.
Access to finance is often cited as the main constraint to the growth of female-owned enterprises. The Gallup World Poll shows significant differences in access to financial services for women and men-owned businesses in developing countries. Women have less access to basic banking services such as checking and savings accounts. Disproportionately high legal and regulatory barriers can also have a profound effect on women’s ability to run stronger, more viable businesses.
We develop lessons in Gender Entrepreneurship for developing and underdeveloped countries to support women entrepreneurs and investors in those economies:
- Women entrepreneurs and investors in developing and underdeveloped countries could have the same growth opportunities as their developed countries counterparts
- There is a lack of valuable historical information on women entrepreneurs and investors in developing and underdeveloped countries
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