Research Summary
Women Entrepreneurs Worldwide Voice Optimism
Women business leaders from around the world are optimistic about their business prospects and their countries’ economies, according to recent surveys conducted by the National Foundation for Women Business Owners (NFWBO). Eighty-four percent (84%) of the women entrepreneurial leaders surveyed expressed optimism about the outlook for their businesses over the next two years; 65% are optimistic about their country’s economic outlook.
Also embrace technology and international trade
The surveys sponsored by IBM were conducted at two international conferences of entrepreneurial leaders of women’s business associations: one was organized by the Center for International Private Enterprise (CIPE); the other by Les Femmes Chefs d’Entreprises Mondiales (FCEM). Surveys were completed by women business owners from 14 countries: Australia, Canada, Cote d’ Ivoire, Ethiopia, Ghana, Italy, Malta, Mexico, Namibia, Paraguay, Senegal, South Africa, Uganda, United States.
“Women’s entrepreneurship is expanding around the world. The growing economic power and influence of women-owned businesses are changing the shape of the global economy,” according to NFWBO Director of Research Julie R. Weeks. “Research into the challenges and contributions of women business owners is thus of increasing importance.”
Studies have shown that women-owned firms comprise between one-quarter and one- third of the businesses in the formal economy, and are likely to play an even greater role in informal sectors.
Technology is playing an important role in the growth and development of women- owned businesses internationally. “Fully 83% of the women participating in the surveys currently use computers in their businesses, 51% have used the Internet, and 26% have home pages for their businesses,” noted Cherie Piebes, Global Market Executive, Women Entrepreneurs, IBM. “As the economic clout of women-owned firms increases and women entrepreneurs continue to embrace technology around the world, IBM will support research and offer technology solutions to this important market segment.”
International business opportunities are also playing an increasingly important role for women business owners around the world. Four in ten (39%) of the women business leaders surveyed are currently involved in the international marketplace. This is a relatively recent trend; 47% of them have only become involved in international trade within the last year. Among those not yet involved in importing or exporting, nearly half (48%) say they will be likely to do so within the next three years.
This recent research also shows that the primary concerns of women business owners internationally are a blend of day-to-day internal business management issues and external factors. The top business management issues facing women business leaders (those reporting the issue to be “very important” or “extremely important”) include:
maintaining business profitability (100%);finding and keeping quality employees (95%);managing cash flow (88%);obtaining more training in business management issues (81%).
The top external issues affecting the growth and development of women-owned businesses internationally (ranked “very important” or “extremely important”) include:
government business laws and policies (86%);the state of their country’s economy (81%);gaining access to technology (79%);access to capital for business growth (79%);development and expansion of infrastructure, such as roads, bridges, electricity, andphones (74%);political instability (70%).
Charts
Women Business Leaders Internationally Are Embracing Technology
Business Management and Economic Policies Top Issue Conerns
Methodology Note: The recent NFWBO surveys were conducted at two conferences of entrepreneurial leaders of women’s business associations around the world: a conference hosted by the Center for International Private Enterprise (CIPE) in Washington, DC in September 1997 entitled “Organizing for Success: Strengthening Women’s Business Associations;”and the 45th International Congress of Les Femmes Chefs d’Entreprises Mondiales (FCEM), in Cape Town, South Africa in October 1997. The surveys were available in English, French, Russian and Spanish at the CIPE conference and in English and French at the FCEM conference.
In total, 43 women business owners from 14 countries completed surveys at the conferences. The countries represented were: Australia, Canada, Cote d’ Ivoire, Ethiopia, Ghana, Italy, Malta, Mexico, Namibia, Paraguay, Senegal, South Africa, Uganda, United States.
The National Foundation for Women Business Owners (NFWBO) is a nonprofit research and leadership development foundation. NFWBO is recognized as the premier source of information and intelligence on women business owners and their enterprises by corporations, policy makers, financial institutions and the media. Up-to-date intelligence about women business owners and their enterprises worldwide is documented in NFWBO’s original research and analysis. NFWBO is affiliated with the National Association of Women Business Owners (NAWBO), which is a member of Les Femmes Chefs d’Entreprises Mondiales (FCEM).
Citation
Center for Women’s Business Research. “Women Entrepreneurs Worldwide Voice Optimism.” Research Summary. March 3, 1998. Washington, DC.