Women’s entrepreneurial activity is on the rise globally thanks in part to improvements in Canada, according to Global Entrepreneurship Monitor.
The report was developed by Babson College, Smith College, Korea Entrepreneurship Foundation, Tecnológico de Monterrey, Universidad Del Desarrollo, and Universiti Tun Abdul Razak. Seventy-four global economies representing 163 million women were analyzed to develop the report.
The report found that total entrepreneurial activity (TEA) — which represents the percentage of the adult working-age population (18-64 years old) who are either nascent or new entrepreneurs — among the economies was highest among women in Latin America, Southeast Asia, sub-Saharan Africa, and Canada.
Entrepreneurial intentions among women increased globally, and in North America by as much as 30 percent — though the report notes that this was mostly due to increases in Canada.
“This not only shows the magnitude of impact women entrepreneurs have across the globe, but highlights the contribution they make toward the growth and well-being of their societies,” said Babson College Professor and report co-author Donna Kelley. “Women entrepreneurs provide incomes for their families, employment for those in their communities, and products and services that bring new value to the world around them.”
Level of international sales among women entrepreneurs varied dramatically across regions. North America’s average, 29 percent, is due to Canada, where 32 percent of women entrepreneurs list at least 25 percent of sales to international markets. This contrasts to the United States at nine percent.
“In Belize, Burkina Faso, Canada, El Salvador, India, and Poland, intentions and TEA increased from 2014 to 2016, leaving a lower lagged ratio resulting from fewer intentions in 2014,” the report reads. “In Belize, Canada, and Poland, an accompanying decline in necessity-driven motives signals greater optimism about entrepreneurship in 2016.”
North America also stands out for high female participation in ICT – again, mostly due to Canada, the report says — which has the greatest female activity in this sector across the entire sample.
Since 1999, GEM has collected data about entrepreneurship in more than 100 economies.
Download a copy of the report here.