The only thing harder than being an entrepreneur is being a female entrepreneur. Despite all the blood, sweat and tears that get poured into a start-up by its founder, statistics indicate that female entrepreneurs still start their companies with 50% percent less capital than their male counterparts. This needs to change, not only because I believe in gender parity, but because I know that what’s good for female entrepreneurs is good for the global economy.
According to a recent report published by the Boston Consulting Group, women now control about $39.6 trillion (about 30%) of the world’s wealth, and by 2020, women have the potential to control over $72 trillion globally. This trend depicts a clear picture – the appetite and justification is there for women to gain more financial and economic power. We just need to mirror that change within the SME sector by encouraging business leaders to capitalize on the potential of women entrepreneurs around the world.
Ashish J. Thakkar, Chair, Global Entrepreneurs Council, United Nations Foundation