Angola ranks first globally for the percentage of women owning businesses, according to a new survey
- Angola is the leading country for the percentage of women owning/managing businesses, with (35%), followed by Guatemala (24.9%) and Burkina Faso (21.2%).
- The survey also found that Rwanda is one of the most affordable places for women to start a business, with no fees and an average of 4 days to complete all procedures officially required.
- The wholesale/retail trade industry has the most early-stage entrepreneurial activity for women, with 51%.
Angola is the leading country for the percentage of women owning/managing businesses, according to a new survey conducted by Taiwanplus.
Using analysed data from sources including The World Bank, Global Entrepreneurship Monitor and International Labour Organization, the survey outlined the countries leading the way for entrepreneurial women on the global stage.
Top 20 countries for women-owned businesses
Percentage of women who own early-stage and established businesses in each country.
According to the survey, Angola emerged as the leading country for the percentage of women owning/managing businesses with (35%), followed by Guatemala (24.9%) and Burkina Faso (21.2%). The survey also found that the highest rates of established business ownership for women were found in Central & East Asia at 6.9%, 1.3 percentage points higher than the global average of 5.6%.
According to the survey, the wholesale/retail trade industry has the most early-stage entrepreneurial activity for women, with 51% operating within that sector globally, compared to 43% of men. On average, ICT saw the largest gender gap in early-stage activity for entrepreneurial women, with only 2% of women starting or owning a new business within that industry.
Where are the most affordable places for women to start a business?
Data from the survey showed that Rwanda is one of the leading affordable locations for women to start a business, with no start-up costs involved and minimal days required. The United Kingdom and Slovenia also have low or no start-up fees, allowing women in these countries to register a new business without the burden of high administration costs. Although women in South Africa can start a business with minimal fees, the days required are one of the highest analysed at 40 on average.
Where are women most fearless in business?
In Africa, Egypt reported the highest percentage of women undeterred to start a business due to fear of failure at 62.5%, followed by women in Angola (61.2%) and Morocco (57.8%). The report noted that women in countries like Nigeria, South Africa, and Kenya were the most likely to be put off starting a business due to fear of failure.
It’s estimated that 274 million women globally are involved in business startups, with an additional 139 million owning/managing established businesses. However, despite the incredible work of millions of entrepreneurial women around the world, the gender gap in business is still prevalent.